Thursday, October 20, 2011


My coworker who has been married for four months asked me this question about a week ago.
"If you were married,would you have a joint account with your spouse?"
Well to respond to that, the only reason why i would have a joint account with my spouse is to have the account to pay bills and run the household such as buy the kids clothes, fix broken stuff and many other household expense. I am a firm believer of being a spouse that complements and not just completes.
Before marriage we both ran separate accounts and managed the money separately. Getting married should not mean that your money gets married too, you dont have to lose your sense of individuality, it means that you and your spouse can create a wholesome relationship. Money can be a problem too, too much of it and too little of it can bring about both jealousy and self esteem problems.
I also advice young couples not to consolidate their studnt loans from college together for example, Susan married Joe, she went to Stanford University and owes over $65000 in loans while Joe went to Cal State East Bay and owes $1500 in student loans, they got married and lump their loans together and pay it off. There is nothing wrong with that, personally  i will  not do it, your degree is in your name and my degree is in my name so answer your father's name and pay off your student loans. Enough said.


  1. I agree with you. I think there should be a joint account for like bills and household expenses but you each should have your own accounts for your own personal spending. Even now, i have an account for bills and then one for goofing off (in addition to my savings acct).
    And i've never even heard of couples consolidating their student loans. But I guess if both parties are cool with it...they gotta pay it off one way or the other. And if one doesn't have the money that month, then the spouse is most likely gonna pay it anyway.

  2. Yes each person should always have a separate account. "then the spouse is most likely going to pay it anyway" I like that buut it wont be me sha :)

  3. That joint acct things ehn! I am completely for the joint account for the sake of having a joint account. Quite frankly, I am not interested in knowing how much comes into my husband's account as long as he is living up to his responsibilities.
    As for the school loan repayment, e get as e be.

  4. A joint account is good for family expenses but I think it's better to also have individual accounts to make personal expenses with.

  5. We have a joint account for everything. His money is my money and mine his. The same applies for debt. We believe in having the transparency across our financial matters and that by being married things should be together as one.