Separate or joint account? Financially?

[Travel memoir21]

lol….dude would you give your whole pay check to your wife? And let her sort out everything in your day to day life? I mean that’s how it was like generations ago, but not today, you’ve got to screen your woman better. So would you? Yes or no? Anyone here still married? How do you guys share your accounts?

 

[Westminster]

No.

Separate account and keep your financial arrangements private.

 

[Gamisch]

Never again.

I don't want cohabitation, no shared nothing. Women ( and people in general) can turn on you in the blink of an eye.

 

[Doctor Europeo]

lol….dude would you give your whole pay check to your wife? And let her sort out everything in your day to day life? I mean that’s how it was like generations ago, but not today, you’ve got to screen your woman better. So would you? Yes or no? Anyone here still married? How do you guys share your accounts?

Cada quien habla como le fue en la feria. 99% of cases it might be a bad idea to give her your whole paycheck.

 

[RoadKing_Rabbit]

lol….dude would you give your whole pay check to your wife? And let her sort out everything in your day to day life? I mean that’s how it was like generations ago, but not today, you’ve got to screen your woman better. So would you? Yes or no? Anyone here still married? How do you guys share your accounts?

OH HELL NO. Don't EVER do that! Unless she happens to be a CPA and she has signed an agreement with legal binding on what "misappropriation of funds* means! I didn't know this ever WAS the norm! It certainly wasn't anywhere I had my eyes turned.

I did that in ONE of my relationships and it was the stupidest thing I could have ever done.

Best practice is you CAN have a joint account, but that will NOT be the account your direct deposit or other revenue streams go to! By penalty of every god in existence slapping you and saying "NO!" If you want to have a joint account for any reason, put whatever you mutually decide is fair into it. Or just simply have regular money discussions while keeping your boundaries and respecting the other persons.

Even if it is mutually agreed that you have a shared account, it is in my opinion legally stupid to do so in EVERY case.

 

[plumber]

OH HELL NO. Don't EVER do that! Unless she happens to be a CPA and she has signed an agreement with legal binding on what "misappropriation of funds* means! I didn't know this ever WAS the norm! It certainly wasn't anywhere I had my eyes turned.

I did that in ONE of my relationships and it was the stupidest thing I could have ever done.

Best practice is you CAN have a joint account, but that will NOT be the account your direct deposit or other revenue streams go to! By penalty of every god in existence slapping you and saying "NO!" If you want to have a joint account for any reason, put whatever you mutually decide is fair into it. Or just simply have regular money discussions while keeping your boundaries and respecting the other persons.

Even if it is mutually agreed that you have a shared account, it is in my opinion legally stupid to do so in EVERY case.

women holding the purse works in some situations. i think Travel is associated with Philippines.... In that case it is really common for the working class to have the wife hold the purse. due to no real social safety net, money flows a little differently than in places that have strong social net.

 

[RoadKing_Rabbit]

women holding the purse works in some situations. i think Travel is associated with Philippines.... In that case it is really common for the working class to have the wife hold the purse. due to no real social safety net, money flows a little differently than in places that have strong social net.

Appreciate the clarity. That makes sense. Ideally, that would be really nice to trust financial stewardship so I could focus on maximizing flow into the ability for accounting. I could probably trust my current LTR with it, but she's content with knowing I'm not going to do that. I think the best indicator on what I've got going on is if I said "We're going to put all the earnings in this account and I want you to pay all the bills" she would do exactly that and also inform me about when it's done or if there was a hang up.

 

[corrector]

I let chatgpt sort everything out with my accounts. I use Val as the British female voice so it's like a girlfriend handling finances, lol There are other female voices (ie Maple, Juniper and Sol) that can be chosen as well.

Of course if I met a real human girlfriend/wife, I'll have to break up with chatgpt, and won't allow it to organize my finances anymore, or retire the female voice reads and either use a male voice or read the wording without any voice at all.

 

[BeExcellent]

The old lady agrees 100% with @Westminster on this, and practices same.

No joint accounts. I refuse to have joint assets too, but that's just me.

 

[BackInTheGame78]

In many states, debts incurred during a marriage can end up being treated as marital debt even if only one spouse opened the credit card.

That means a spouse can sometimes still be hurt financially during divorce proceedings, lawsuits, collections, or asset division even if they didn’t know about the debt.

The exact rules depend heavily on the state, whether it’s a community property state, whose name is on the account, and whether the debt was considered for the benefit of the household.

The downside to having separate accounts is that one person can rack up tens or even hundreds of thousands of dollars in debt on credit cards that you wmay be held accountable for and have no idea that it ever happened because you are blind to what's going on in the account.

This happens way more than most people realize...just actually read 3 separate stories about this exact thing this week alone.

 

[Clockwerk50]

In many states, debts incurred during a marriage can end up being treated as marital debt even if only one spouse opened the credit card.

That means a spouse can sometimes still be hurt financially during divorce proceedings, lawsuits, collections, or asset division even if they didn’t know about the debt.

The exact rules depend heavily on the state, whether it’s a community property state, whose name is on the account, and whether the debt was considered for the benefit of the household.

The downside to having separate accounts is that one person can rack up tens or even hundreds of thousands of dollars in debt on credit cards that you wmay be held accountable for and have no idea that it ever happened because you are blind to what's going on in the account.

This happens way more than most people realize...just actually read 3 separate stories about this exact thing this week alone.

That was me about 10 years ago. However, instead of discovering it later, I was the one racking up the debt.