How would you recommend a married couple set up their bank accounts?

2 separate checking accounts (one for each), and then one combined savings account? Or one combined checking and one combined savings account? Or any other ideas? What has or has not worked for you in the past?How would you recommend a married couple set up their bank accounts?
IMO, it's best to have separate checking accounts, savings accounts, and household (joint) accounts. The household accounts can be funded ';as agreed'; for recurring mutual debt and maintenance/repair.





While some may feel that ';marriage is all or nothing'; better than 50% of marriages do end in divorce. However, that's not the only reason for separate accounts. One must also consider limiting liability if one or the other is sued; children from prior marriages need protection in event of accidental death; business risks need to be minimized; catastrophic health bills limited, etc., etc.





While you're at it, maintain separate credit accounts as well. Each person needs to be rated and uncontrolled spending needs to be limited. An unforeseen mental illness can be just as detrimental as an angry spouse running up charge accounts during divorce, for example.





HOW YOU ARRANGE FINANCES AND TITLE ASSETS HAS NOTHING TO DO WITH ';LOVE!'; Nor is unconditional trust a requirement for a healthy, happy marriage. RJHow would you recommend a married couple set up their bank accounts?
There is no right or wrong answer to this question. Whatever you both agree on and feel comfortable with is what you should do.





Most people have joint accounts because it is easier to manage finances with one account that both parties have access to. It's also easier if one partner is ill or incapacitated for the other to take over the financial business of the couple because all the money belongs equally to both partners.





It also depends on your financial status. If one of you comes into the marriage substantially more wealthy than the other, the wealthy partner might want to keep his or her pre-marriage assets separate.





Some couples have separate accounts but agree on who will pay which bills. For example, he pays the mortgage but she pays for utilities and groceries.





It would be a good idea to check on the laws in your area regarding community property. Even if you keep separate accounts, in some US states all marital assets might be considered to belong to both parties equally.





Also, if you have separate finances be sure to have a will/trust and power of attorney in place so that your accounts can be accessed by your spouse and/or heirs if you die or are unable to manage your own affairs.
Separate checking accounts for each. Then a joint checking account.


The same for savings. separate for each then a joint account.





The reasons are the joint is used to pay your bills and each of you have a debit card for this account. The separate checking accounts are for your payroll to be assigned to. Each person has to have their ';own'; money. The accounts can be funded by the bank, internal transfers between accounts. You have checks for the joint account but none for the separate accounts. When you have about 5k then open a cd ladder and continue this process. good luck
We have both separate accounts and one joint checking and savings. It's easier for us to not have to constantly consult each other for personal purchases. It's not a trust issue, it's more convenient. If he wants to buy video games for our son, he doesn't have to call me to make sure it's within our budget. We put half of our paychecks into the joint account to cover bills, so the money in his account is his and can be spent how he wants. It works for us.
This is what we do.....





We have a joint checking account that both our checks are deposited into. We have a joint savings that the bulk of the money goes into, and from which we pay our house, car, cell and tv bills (every bill that doesn't change monthly).





I have a separate savings account for our ';fun'; or ';vacation'; funds that he is on as a silent partner, so to speak, though this usually goes toward gym socks and such for the kids. 5% of the payroll goes here.





He has a savings account that I am on as a silent partner, so to speak, for our ';rainy day fund.'; 5% of our payroll goes here.





We each have a separate checking for our spending money. This covers groceries, gas, fun stuff, movies, pizza, etc. I get more than he does because I do all the shopping for the family. Since we can both access the accounts though only carry the checks and check cards for our own, we can easily transfer money if needed. It usually isn't necessary.





Because I also have a home based business, I have a checking and a savings for that at a separate bank - that way we can't spend it by accident - and every quarter I ';draw a paycheck'; from my home based business.








A little quirky, some might say cumbersome, but it works for us!
Why would you need to have separate accounts? If you don't want to share your money or you don't trust the other person - those are things that should have been discussed earlier. Joint is the best way so that there aren't any surprises. You both will be able to see credit cards and bank statements together. Money can start a lot of nasty fights but so can having to ask permission to take money. Should begin by setting up a budget and rules meant to get you to your goals. What happens if you break the rules.
My husband and I actually maintained our seperate checking accounts. We used to have a combined savings account, but that became more of a hassle. Some people thought this would lead to secret purchases and crap, but it has worked quite well for us - we communicate a lot about the money in our accounts and never make purchases (small or large) without talking about it.
My wife and I had only joint accounts. It was not a factor at all in our separation.


My sister and her husband have separate accounts and pay bills based on their individual incomes through a joint account that they both put money in.


If I were to do it over, I might do as my sister does, if only to make buying presents easier, without the SO seeing what you spent and where, haha.
What I have seen work best is two joint checking accounts and one joint savings. Each of you has their ';own'; checking account. One of you is responsible for paying the household bills out of their account. Both of you put money into savings. Have all the accounts at the same bank so money can be transferred if needed.
well honestly it depends on the amount of trust in the relationship. do you trust your spouse with your money and vice versa? if so then you could just combine the checkings and savings. if not, then make both accts seperate. being that the couple is married there is at least some trust so you should prob jsut combine both accts, you will be able to accumlate more interest on your money as well
If you are truly life partners, a joint account is most logical. If you are selfish, stingy, or have something to hide, then get separate accounts.


Financial decisions should be made together either way.
I would go with





2 separate checking accounts (one for each), and then one combined savings account
Separate accounts.
combine everything...all into one pot. Either it's a marriage or it is not.
it's been in joint name since 1981...zero problems...