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View Full Version : Couples: Do you have 1 combined bank account or seperate accounts?


jAZ
12-26-2006, 06:50 PM
I was talking with a couple-friend of mine and my wifes last night. They told me that they have deliberately maintained seperate bank accounts although they have been married for a few years now. His check goes into his account... her's into her account. They agreed on who pay's which bills out of which account and then each draws upon their own account for non-monthly spending (impulse, toys, daily lunch, etc).

I thought that was weird, but they told me that another couple-friend of ours does basically the same thing only this 2nd couple has 3 bank accounts. A joint account that most of the money goes into to pay scheduled/budgeted/monthly bills out of... and then each person puts some agreed upon % of their own pay check into their own private account to use in the same way. The bulk of both paychecks goes into the joint account (ie 90 joint... 10 personal).

My wife and I had a joint checking account before we even got married, so this whole thing seems really weird to me. I'm just curious how many here have a similar arrangement with their spouse.

BIG_DADDY
12-26-2006, 06:51 PM
2 Accounts but her statements come to me.

jAZ
12-26-2006, 06:54 PM
2 Accounts but her statements come to me.
Why so?

CoMoChief
12-26-2006, 06:56 PM
Why so?


Cause she's a fuggin woman, and women can't manage money worth a shit!!!!

BIG_DADDY
12-26-2006, 06:56 PM
Why so?

Why 2 accounts or why have the statements come to me?

Bwana
12-26-2006, 06:56 PM
Seperate banking: Seperate accounts for each person

chiefs4me
12-26-2006, 07:00 PM
we each have our own and then one together...:thumb:

Simplex3
12-26-2006, 07:04 PM
We're one couple so we have one set of accounts.

Multiple accounts are dumb IMO. You'll wind up having lower dollar amounts and won't qualify for as good an interest rate.

Saggysack
12-26-2006, 07:07 PM
Both seperate and joint accounts. Joint account is strictly for bills.

redbrian
12-26-2006, 07:12 PM
Joint Checking, Joint savings 1 biz account in my name only.

Rain Man
12-26-2006, 07:17 PM
I've never understood how a married couple can have separate accounts. You're either a team or you aren't. What happens if one person loses their job? Are they supposed to borrow money from the other to meet "their half" of the bills? Will they be scrounging and eating Ramen while the working spouse is eating steak?

Simplex3
12-26-2006, 07:18 PM
Joint Checking, Joint savings 1 biz account in my name only.
Make sure that bad boy is covered in the will somewhere or she could wind up completely out of luck on that account. Best case it would wind up in probate forever.

Simplex3
12-26-2006, 07:18 PM
Will they be scrounging and eating Ramen while the working spouse is eating steak?
Hell, this is how my house is NOW.

Bwana
12-26-2006, 07:21 PM
Will they be scrounging and eating Ramen while the working spouse is eating steak?

Well yeah! :shake:

BucEyedPea
12-26-2006, 07:24 PM
IMO the man works and pays ALL the support. So one account should do. The lady can handle the books just fine...just hand her your paycheck.
Men make more money this way.

However, IF the woman wants to work.... it's her money...for jewels, furs, shoes, clothes whatever so long as she feeds him, gives him sex, cleans, handles chores and does bulk of childrearing.

Rain Man
12-26-2006, 07:26 PM
IMO the man works and pays ALL the support. So one account should do. The lady can handle the books just fine...just hand her your paycheck.
Men make more money this way.

However, IF the woman wants to work.... it's her money...for jewels, furs, shoes, clothes whatever so long as she feeds him, gives him sex, cleans, handles chores and does bulk of childrearing.

What if the guy doesn't like wearing fur and jewels?

BucEyedPea
12-26-2006, 07:27 PM
What if the guy doesn't like wearing fur and jewels?
It's not his....her money her jewels and furs.
Get it right RainMan! ROFL

John_Locke
12-26-2006, 07:29 PM
seperate accounts but each others name on them just in case

split bills and never question what the other spends as long as bills get paid

BucEyedPea
12-26-2006, 07:34 PM
So now lemme see...what if the woman inherits some money in her name?
Is that all joint money now? Legally, as I understand it's hers and hers only...until she agrees to comingle it. If she has her own account, just because the hubby is a co-signer he has no right to touch it w/o permission.

Rain Man
12-26-2006, 07:39 PM
My understanding is that, in Colorado and probably many other states, the possessions of one spouse are legally the joint status of both spouses. It doesn't matter if you have separate accounts; if you get a divorce everything goes into one pile and then gets split 50/50 unless the woman wants it all.

Hoover
12-26-2006, 07:42 PM
We have one checking account which I manage.

Its our money, and while I bring home 3 times more than she does, its ours. We make all financial decisions together.

BucEyedPea
12-26-2006, 07:46 PM
My understanding is that, in Colorado and probably many other states, the possessions of one spouse are legally the joint status of both spouses. It doesn't matter if you have separate accounts; if you get a divorce everything goes into one pile and then gets split 50/50 unless the woman wants it all.
My info has it that any money inherited in that person's name is theirs legally.
Maybe the legal beagles can correct me on this part, but I understand that if a woman works it's her money provided she does her traditional duties. Perhaps, these are laws not enforced anymore...but I swear I read it in one of those family law books. I read it in the mid 90's as well.

But the inheritance thing I'm pretty certain is true.

jAZ
12-26-2006, 07:50 PM
My info has it that any money inherited in that person's name is theirs legally.
Maybe the legal beagles can correct me on this part, but I understand that if a woman works it's her money provided she does her traditional duties. Perhaps, these are laws not enforced anymore...but I swear I read it in one of those family law books. I read it in the mid 90's as well.

But the inheritance thing I'm pretty certain is true.
Depends on whether you live in a "community property" state. Arizona is a community property state. Sounds like Colorado is as well.

Cave Johnson
12-26-2006, 07:56 PM
My info has it that any money inherited in that person's name is theirs legally.
Maybe the legal beagles can correct me on this part, but I understand that if a woman works it's her money provided she does her traditional duties. Perhaps, these are laws not enforced anymore...but I swear I read it in one of those family law books. I read it in the mid 90's as well.

But the inheritance thing I'm pretty certain is true.

Excluding the crazy "women can't drive on Sundays" type of unenforced laws, as far as I know, how married couples divide up their income is strictly at a couple's discretion. If you get divorced, the earnings of either spouse during marriage are considered marital assets for property division purposes.

However, in some states degrees can be considered marital property. I guess the lesson is get your M.D. or J.D. first.

jAZ
12-26-2006, 07:57 PM
And on a totally unrelated note, am I the only one that's at least a little suprised to see BucEyedPea reveal a... man makes ALL the money... woman keeps the books... she can earn her own money for shoes as long as she gives him sex and food... persona?

BucEyedPea
12-26-2006, 07:57 PM
Depends on whether you live in a "community property" state. Arizona is a community property state. Sounds like Colorado is as well.
I thought of that after I posted. So is Florida. From what I checked, I don't think it applies to an inheritance. If my kid inherits money from her grandma...it's also hers too.

BucEyedPea
12-26-2006, 07:58 PM
Excluding the crazy "women can't drive on Sundays type of unenforced laws", as far as I know. how married couples divide up their income is strictly at a couple's discretion. If you get divorced, the earnings of either spouse during marriage are considered marital assets for property division purposes.

However, in some states degrees can be considered marital property. I guess the lesson is get your M.D. or J.D. first.
I agree it should be that way. Just sayin' what I read...but I'm talkin' while married...not for purposes of divorce.

Bugeater
12-26-2006, 07:59 PM
IMO the man works and pays ALL the support. So one account should do. The lady can handle the books just fine...just hand her your paycheck.
Men make more money this way.

However, IF the woman wants to work.... it's her money...for jewels, furs, shoes, clothes whatever so long as she feeds him, gives him sex, cleans, handles chores and does bulk of childrearing.
You're kidding, right?

redbrian
12-26-2006, 08:00 PM
Depends on whether you live in a "community property" state. Arizona is a community property state. Sounds like Colorado is as well.

Missouri is also I think a community property state, anything owned prior to getting hitched belongs to the individual, anything gained after is jointly owned uless a pre-nep is written up, could be wrong but I think that is how it works.

Cave Johnson
12-26-2006, 08:03 PM
Missouri is also I think a community property state, anything owned prior to getting hitched belongs to the individual, anything gained after is jointly owned uless a pre-nep is written up, could be wrong but I think that is how it works.

I paid scant attention in Family Law class, but I did listen enough to know that MO is a common law, not community property, state

Cave Johnson
12-26-2006, 08:04 PM
You're kidding, right?

My sarcasm meter didn't budge. I think she's serious.

BucEyedPea
12-26-2006, 08:14 PM
You're kidding, right?
Somewhat...I was somewhat facetious and wanted to stir-the-pot ( for fun of course) but I'm not totally kidding either.

I do feel division of labor is more efficient instead of two people sharing all the same responsibilities overall. And I do feel many men can make more money ( depending on profession) if they have a lot of things a woman traditionally did off their plates.

My gf's hubby who has a business claims hers makes more when she doesn't work. During mine, I found the same.

BucEyedPea
12-26-2006, 08:16 PM
Any lawyers here on the inheritance point?

I could only find this online:

Why an inheritance is a 'yours,' not 'ours' (http://moneycentral.msn.com/content/CollegeandFamily/Loveandmoney/P72670.asp)

Bugeater
12-26-2006, 08:17 PM
Somewhat...I was somewhat facetious and wanted to stir-the-pot ( for fun of course) but I'm not totally kidding either.

I do feel division of labor is more efficient instead of two people sharing all the same responsibilities overall. And I do feel many men can make more money ( depending on profession) if they have a lot of things a woman traditionally did off their plates.

My gf's hubby who has a business claims hers makes more when she doesn't work. During mine, I found the same.
That may be true, but we need her job for the health-care benefits (although if they are barely worth it anymore), and she won't do yard work.

Bugeater
12-26-2006, 08:20 PM
Any lawyers here on the inheritance point?

I could only find this online:

Why an inheritance is a 'yours,' not 'ours' (http://moneycentral.msn.com/content/CollegeandFamily/Loveandmoney/P72670.asp)
Q. Do you really think any married person is going to shut their spouse out of any money they inherit?

A. Not if they want to stay married.

Cave Johnson
12-26-2006, 08:24 PM
Any lawyers here on the inheritance point?

I could only find this online:

Why an inheritance is a 'yours,' not 'ours' (http://moneycentral.msn.com/content/CollegeandFamily/Loveandmoney/P72670.asp)

That's the law in MO. Gifts/inheritance to 1 spouse aren't considered marital property.

BucEyedPea
12-26-2006, 08:27 PM
Q. Do you really think any married person ist going to shut their spouse out of any money they inherit?

A. Not if they want to stay married.
Yeah know, I was married to a man born with a silver spoon in his mouth...and I never dreamed of, thought of expecting any of his inheritance for myself. It was all his idea buying our first property. But I insisted on contributing to payments until I went to a part-time schedule post pregancy. He did whatever he wanted with it.

Anything else I made, was always considered mine. I had my own car and paid for all of it. I never asked for anything and frankly he never really bought me anything....maybe a $5 Starbucks card for Christmas. I even paid for half my kid's school tuition outta my own pocket because I wanted her in a private school. That was the deal I struck with him to get him to budge.

BucEyedPea
12-26-2006, 08:30 PM
That's the law in MO. Gifts/inheritance to 1 spouse aren't considered marital property.
Thank you.

Now what's the deal on a working but married woman...is it her money if she wants despite her husband, provided she does or has the traditional duties and responsibilities?

Bugeater
12-26-2006, 08:36 PM
Yeah know, I was married to a man born with a silver spoon in his mouth...and I never dreamed of, thought of expecting any of his inheritance for myself. It was all his idea buying our first property. But I insisted on contributing to payments until I went to a part-time schedule post pregancy.

Anything else I made, was always considered mine. I had my own car and paid for all of it. I never asked for anything and frankly he never really bought me anything....maybe a $5 Starbucks card for Christmas. I even paid for half my kid's school tuition outta my own pocket because I wanted her in a private school. That was the deal I struck with him to get him to budge.
That's strange, I would think he would want to share it with you, especially if he was spending it on himself. I'd feel like a jerk if I was rolling around in a Benz and the wife was driving a Ford Escort.

Then again, what the hell do I know? I didn't come from a wealthy family nor did I marry into one so it's of little consequence to me either way.

BucEyedPea
12-26-2006, 08:37 PM
That's strange, I would think he would want to share it with you, especially if he was spending it on himself. I'd feel like a jerk if I was rolling around in a Benz and the wife was driving a Ford Escort.

Then again, what the hell do I know? I didn't come from a wealthy family nor did I marry into one so it's of little consequence to me either way.
It wasn't exactly like that with a Benz either. Like I said I never expected to be handed any of it. I never asked either. However, the joint home things and furnishings were just the joint things. He wanted to invest was part of it....I'd say more...but!

Rain Man
12-26-2006, 08:39 PM
It wasn't exactly like that with a Benz either. He wanted to invest was part of it....I'd say more...but!

But what? You don't want to reveal that you're an obscenely wealthy dowager who lives on a 300-foot yacht with your own menagerie of hoofed mammals and gets foot massages from Regis Philbin?

Ari Chi3fs
12-26-2006, 08:40 PM
I have made 100% of the money for a long time, she recently got a daycare business, so she now has her own acct for that.

Cave Johnson
12-26-2006, 08:40 PM
Thank you.

Now what's the deal on a working but married woman...is it her money if she wants despite her husband, provided she does or has the traditional duties and responsibilities?

Under English common law, no. A wife's earnings were the property of her husband. Under modern common law, it's hers until the husband divorces the bi***, at which point he can get half (or so).

BucEyedPea
12-26-2006, 08:41 PM
But what? You don't want to reveal that you're an obscenely wealthy dowager who lives on a 300-foot yacht with your own menagerie of hoofed mammals and gets foot massages from Regis Philbin?
No that's not the case either Rainman.
Oh no! I've said too much.
Remember I posted there are just as many riches to rags stories too.

BucEyedPea
12-26-2006, 08:43 PM
Under English common law, no. A wife's earnings were the property of her husband. Under modern common law, it's hers until the husband divorces the bi***, at which point he can get half (or so).
An wha, wha , what about midevil Islamic society?

When I was in the ME I was told, at least for SA, the woman has her own money and it's hers.

But thank you....about the modern common law point. That is, I believe, to what I was referring.

Rain Man
12-26-2006, 08:44 PM
No that's not the case either Rainman.
Oh no! I've said too much.
Remember I posted there are just as many riches to rags stories too.


You're a countess. I bet you're a countess. Or maybe a duchess.

BucEyedPea
12-26-2006, 08:44 PM
LOL!

Rain Man
12-26-2006, 08:48 PM
Waitaminute waitaminute waitaminute. Your husband had an inheritance... you think that women get fur and jewels for doing their duty...the man should bring in the money...YOU'RE PRINCESS FERGIE!

Saulbadguy
12-26-2006, 08:48 PM
Joint account, but I handle all the bills and finances.

BucEyedPea
12-26-2006, 08:50 PM
Waitaminute waitaminute waitaminute. Your husband had an inheritance... you think that women get fur and jewels for doing their duty...the man should bring in the money...YOU'RE PRINCESS FERGIE!
ROFL

Iowanian
12-26-2006, 08:51 PM
During mine, I found the same.
I don't know about anyone else, but I'm terribly, terribly surprised that Deniseyepea is no longer married.


Separate accounts, shared savings....bills paid randomly out of either, either of us can write a check from either account.

I like it this way, because if the bills are paid, I know how much room I have to "play". It works well for us, because we're both fiscally responsible.

We're married. We're on the same team...Its all OUR money.

I'll never understand marraiges, planning for assumed failure.

Frazod
12-26-2006, 08:53 PM
Just one. Since she doesn't earn jack shit, there's little point in having two.

Sort of like that common brain we share that happens to be in my head.