Why I Would Only Agree to a Joint Bank Account

by Crystal Carder
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The days after your wedding are some of the best days of your life. It’s so romantic. Everyone is always commenting on how in love the two of you look and you go to bed happy every night. You’re young and in love. You go to bed with barely any stress and you wake up wanting to spend every second together. But just like the honeymoon phase, these feeling soon are replaced with more important life topics.

After you get married, you still have a lot of big decisions to make that you and your partner need to discuss. Many people may be tempted to ask others for their opinion on some of these matters, but these matters really need to be between just you and him. Among these decisions, you have to decide “if you’re taking his last name” and “each other’s rule in the household.” Amongst these topics, one of the things that must be discussed is finances and the idea of opening a joint bank account.

What is a Joint Bank Account

A joint bank account is basically a bank account that the two of you open together. You and he share 100% of the money.

What’s the Big Deal

You hear people say it all the time, “that’s my money, not hers.” Or they say, “he didn’t give me any money.” These people probably have his and her bank accounts where their money is theirs, not each other’s. A joint bank account basically allows a couple to share their money between the two.

Should You Have One?

Maybe a joint bank account is not for you and your spouse, but it is for me. Growing up, my parents only ever had one joint bank account. They shared their money between the two of them and they recommended Mike and I get one when we got married.

They told us that a joint bank account kept them from arguing over “missing money” and one never had more money than the other.

Since financial struggles are one of the most fought about issues in marriage, having a joint bank account made sense to me.

Then there was the biggest fact that made having a joint bank account right for us, I would eventually be a stay at home mom. After getting married, we both knew we wanted a family – like right away. And of course, Mike was the breadwinner, so it always made sense that I would give up my job to be a SAHM.

I’m not high maintenance, but I refused to be a wife who had to beg her husband for an allowance, so when we got married, that’s why I demanded a joint bank account. And thankfully, Michael was already on board with it.

After ten years of marriage (well almost), a joint bank account is the one decision that neither of us regret. Is it right for you? I don’t know, but it’s worth discussing.

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