Life is Grand!!!

Tuesday, April 04, 2006

Checking Accounts

My parents called me last night saying they found the perfect Easter outfit for my son...that is if I didn't already have one. My dad even said that he would pay for it! Now after hearing this, I knew that it must be something special. Since my parents have separate checking accounts, my dad doesn't buy very often. It's a shock to me to hear him say that he is paying. He has his bank account, that his pay check goes into, and my mom has hers. He takes care of his truck payment, as well as his tithe, and a few other bills. My mom pays for everything else including groceries and a majority of the restaurant checks. She just has a much more dependable paycheck since my dad never knows how much special duty he will have for the week.

So anyway, I knew this outfit must be pretty special since my dad was actually offering to pay! He just loves telling us that he doesn't have any money...when in fact he usually has at least $500 in his checking. If it drops below this, he is "poor". Crazy man!!!

Btw, my hubby thinks it's weird to have separate checking accounts. We put all our money in the same account. Now I bring in less of course, but it's still all of our money. We depend on each other to get the bills paid, and we couldn't imagine having "his" money and "her" money.

Am I alone on this? Do you and your honey have separate accounts? Do you put everything together? Do you think it's okay for a couple to have separate accounts if both of them work? What are you thoughts?

Blogger Oh great One said...

We haven't had seperate accounts since we were dating! He makes the money and I take care of making sure the bills are paid. I have never understood the idea of my money and your money. It wouldn't work at our house!

April 04, 2006 1:47 PM

Blogger loelsh said...

We had seperate accounts for a while when we were both working at different banks. I'm not sure about him, but I know the bank I worked for required their employees have an account at their bank and get direct deposit.

However, we had both names on both accounts, so we actually just had 2 joint accounts. We each had certain things we would each pay for out of our accounts, like I would pay the mortgage, the kids' tuition and my gasoline and he would pay the car payments and all the other bills.

For me it was easier to keep track of things. My checkbook was always balanced to the penny while guru would wait for the statement and check things over.

Now that I'm not working, we just have one checking account. He makes the money, and I spend it. :)

April 04, 2006 2:09 PM

Blogger Guru said...

Like Lo said, we had separate accounts at one time because of work requirements, and paid bills because of how much each one of us made, but the idea was always that money would be tranferred together to pay something if need be. It was never my money or her money.

In fact, when she left that bank, we began the transition to one account where we are now.

I don't see the point of a married couple each keeping their own money. I also don't see the point of the man not taking the initiative to pay for the woman whenever possible.

I guess people are just different. No condemnation on your parents, because I know them and know they aren't like this, but in general I think that it gives the feeling that the couple isn't going "all in" to the marriage if they still divy up money and things as if they were only roommates.

April 04, 2006 2:45 PM

Blogger DayByDay4-2Day said...

I think what ever works for that couple is great. For us, we have a joint account.

April 04, 2006 2:46 PM

Blogger Becky said...

When I was married, we had separate accounts b/c my Ex couldn't manage money or funds properly and I didn't trust him to make the "big" payments on time. His parents thought it was weird and that our money "fights" were a direct result of having separate accounts. But, when your spouse doesn't balance his checkbook and spends as he pleases, what else can you do? If I get married again and my spouse and I are alike, then I think it would make sense to have just one account.

April 04, 2006 3:11 PM

Blogger deputyswife said...

All of our accounts are together. Though I am seriously considering getting the Deputy his own account. He is always asking me "How much can I have?" or "Can I spend this amount?" Drives me nuts. So I thought I would get him his own account so he can spend what he has...

April 04, 2006 3:53 PM

Blogger Texas_Ivy10 said...

When I was married, we had separate accounts for each of us and 1 joint account. We both transferred money into the joint account to pay the bills. .

April 04, 2006 5:13 PM

Blogger Barbara said...

We have one joint account, it's been that way since we were married. I can understand separate in some circumstances, like if a spouse is irresponsible with money.

April 04, 2006 9:47 PM

Blogger Better Safe Than Sorry said...

we've had a joint account since before we were married, as soon as we were buying our first home, that's when we did it. we have no money in our joint account, i suppose if we each had our own account, we'd have two accounts with no money.

April 04, 2006 9:50 PM

Blogger Leslie said...

We don't do the 'his' money and 'her' money either. One account that all bills are paid from.

April 05, 2006 12:00 AM

Blogger Jen said...

We have had a joint account since before we were married. Then we made so little money there was no point in separating it. Now it just makes sense so we both have easy access to everything.

April 05, 2006 2:04 AM

Blogger Viamarie said...

Now since my hubby retired, we have a joint account. Years ago, we put together our salaries and start paying bills and put aside a certain percent for savings which go to our joint account and the rest we divide equally and we each put it into a separate account. This arrangement has worked well so I guess it all depends on what the couple agrees upon at the start of their marriage.

April 05, 2006 8:07 AM

Blogger Princess21 said...

I am not a fan of seperate checking accounts. I really don't see the need. Any money I make goes toward the household...and vice versa. It is never mine or his....but it does seems wierd when I go to buy something for the hubby as a present...using his money...our money.

Right now we are living pay check to pay check....and every bit helps go towards the bills....I cannot see trying to manage all the bills and two accounts. Who would pay for what??

I guess it is like the Bible says...the 2 shall become everything!

Good question!!!

April 05, 2006 9:35 AM

Blogger CameraDawktor said...

I'm glad you came back to my site and didn't think I was a weirdo when I commented the other day that every once in a while my boys still see me naked!

BTW: This is a thought: You would think they would demand for this to stop! (lost 45 lbs., 3 know the story!)

Anyway, we have one account, I don't work, but even when I did we only had one.

I guess whatever works for a couple so they are not fighting and feel like they are on the "same page" about their finances. I don't think separate accounts = not having like-minds about finances. If you do it and don't trust each other...then I think there's a problem....just my opinion.

I like how you ask people's opinions on your site! Gives you food for thought.........

April 05, 2006 9:53 AM

Blogger said...

WifeGeeding and I have three accounts. One for her, one for myself, and one that we put money into to pay the bills. That way if we wanted to buy a gift for one another in secret or whatever, no clues are left around. We think of it this way, we earn the money we work for, so other than sharing the responsibility of bills, we have the right to spend as we wish.

April 05, 2006 10:49 AM

Blogger Trinity13 said...

Same here OGO!

I remember Bank One was that way with me Lo...they really discouraged their employees having bank accounts elsewhere.

I hear ya Guru, and I think it's because my mom has her own business that she also has her own account. It would prob make things easier with "her" money. :-)

Sounds good Day!!!

That makes sense Becky...if my hubby wasn't good with money, he wouldn't be allowed to touch it!

I like that idea DW! Get him his own account and put like $20 in there a month! :-P

I'm starting to like that idea Texas.

Right, right Barbara.

Heehee, very funny BSTS!

Thanks for stopping Leslie!!!

We were the same way money when we married. Wait, we are like that now!!!

Sounds like a really good idea Viamarie...thanks for the imput.

I didn't see the need before PJ, but some of these comments are starting to change my mind.

Thanks for stopping by again Cameradawktor...I love getting feedback cause it gives me a new prespective on things!

That's one of my problems BoN...I have a hard time buying something for my hubby without him knowing. He is always checking the account, so it would be nice for me to have a seperate one for gifts. Good idea!!!

April 11, 2006 9:58 AM


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