Joint accounts.. who has em?

[AtW]

ven if free banking does come in. If you want to keep your empty bank accounts open then just recycle the same 1K between the accounts using Standing Orders.

End of free banking would have meant that you pay £X per month for your account. Banks would have made exception if you have more than £Y at any time in your account.

[AtW]

If you have to plan a prenup or keep your accounts separate then you really should not get married.

Seems like a sensible risk management.

[Churchill]

Seems like a sensible risk management.

How the f**k would you know?

[NetwkSupport]

Joint account.

Im the only bread winner because we have a ten week old baby. We are not married (yet) but i wouldnt have it any other way as we are a family unit.

If i couldnt trust her with OUR money then thats a big problem, we have our bills come out of it, if we need/want something we check we can afford it and get it. We're both on the same wavelength with money so no arguments/selfishness.

When she starts to work again, her wages will go straight into the joint account too.

[NotAllThere]

Just one joint account - always have.

All my money is hers. Is this bad in modern society?

My wife tells me it's normal. It's the way we've been operating for nearly 20 years, and it hasn't caused us problems. ( This is with her both earning and not earning - all money is pooled ).

[DS23]

separate personal accounts. multiple joint savings accounts. i pay the mortgage and the other half pays the general bills.

rc's point about access to comany funds in the event of an untimely exit is important - i don't have a plan for that. given the warchest gathering there i clearly should.

[RichardCranium]

I didn't explain the separate accounts thing properly. We don't have any secrets from one another but do respect one another's privacy. We find not using a common account saves us having to worry about going overdrawn accidentally. But money flows freelly between us and our accounts (usually in one direction when I'm working and the other when I'm benched).

rc's point about access to company funds in the event of an untimely exit is important - i don't have a plan for that.

I thought everyone did that?

As my father found last year, getting access to your partner's account when they die can be really hard and take over six months. However, if you & your spouse are joint signatories on the business account, if the breadwinner goes under a bus the other can get the accountant to sort out the affairs and wrap everything up very quickly. Otherwise... there'll be late payment penalties on tax and all sorts of tulip for them to deal with after you've gone.

And if you don't trust your spouse not to run off with the VAT money, make your mum a signatory.

[EternalOptimist]

I wonder how many who have joint bank accounts also have joint email set ups ?
I know some that do.

Personally, we do not have a joint account, I have a standing order paying into hers, and as I hold 3 times more dosh when I am working, I pay for most of the big ticket items.
She likes to be able to splash out now and then with 'her' money, like she has told me she want to take me to Camden in jan for a mini break. Plus she was dominated by a previous partner, suffocated and so she likes a bit of autonomy.

[Churchill]

I no longer earn money for me.

I earn it for us.

[Pogle]

Everything is separate - no joint anything