Good morning everyone! How was your weekend? Did you go out and do anything fun or exciting? We had a busy weekend here and got a lot of work done around the house! We are about 80% done now with our new coastal landscaping projects and hubby got the 2 busted out windows (from a storm last weekend) replaced. We are hoping to start gutting the official living room next week so that we can start the remodeling in there.
Anyway, How many of you who are married have separate bank accounts from your spouse? Hubby and I have a joint checking & a joint savings account. But…we also have separate checking & savings accounts too. Some people think that it is odd but that is how we have always done it…for over 28 years and it has worked for us! Since my daughter is getting married next September, I have advised her to do the same thing, have one joint account but also to keep a separate account. Your thoughts?
We had a few giveaways close late last night so we do have winners to announce this morning. As always, we spend time every morning validating entries, trashing out the cheater entries and then randomly select a winner using random.org. We then double check that persons entry to make sure it’s legit and then finalize it.
Winner for the Seabuck Wonders Skincare is… Emily Mahr
Winner for the Pillow Décor Giveaway is… Christine (daisy)
Congratulations to both of our lucky winners on this fine Monday morning! Emails will be sent to the winners shortly. Have a great start to your week everyone!
We have joint accounts but one he controls and one I control. We don’t use each others account but could if we wanted to or needed to.
I heard back when just out of college, that a couple should always have at least 2 accounts one in each name. And it does not matter if one is a SAH parent. It’s like life insurance, you prepare for unspeakable events. In a worst case scenario, a surviving spouse is blocked from from access to joint assets pending probate. And if there is no will and creditors, you have a court appointed executor controlling access.
The more likely is that one of your accounts – bank/credit card will be compromised and having a second account in a different bank provides a useable account for the interim because not all banks overnight a replacement card.
We actually have 3 credit cards, one for each and a 3rd that was used for online purchases. Using a separate card lets us comfortably track our purchases. It’s much easier to verify your own purchases. If it is too much hassle to always be cross checking with each other about odd store names popping up, people stop paying attention to charges which is really unsafe.
Congratulations to the 2 winners.
I would think that for 2 people who have different jobs it is a good idea to have both a joint and separate bank accounts. Each situation is different, so the best thing is to discuss it with your partner.