We have a joint account for the house bills and separate checking/credit cards. We are not married yet...I have been thinking about asking him for his username/password to his checking/credit card accounts but I don't want to seem like I don't trust him. Of course, I would give him my information but he hasn't asked for it.
The only joint account we have is the one for our daughters' savings. We had accounts separately before, but we see each other's statements all the time and we log in to each other's online management continuously to check on clearances and balances. I usually spend more than her, 'cuz I earn much more than her, but that is also why I pay most of the larger payments like vehicles, insurance for both home and auto, mortgages, and even HER credit cards from my account. She pays the smaller bills like the electricity, water, HOA balance, girls' tuition for extra-curricular activities, etc. This got me thinking, though. We might, soon. FIXED. Seems like you are ALREADY married from all these things that you do together. How about just give him your information to keep as a safeguard, then if he feels he should, he will?
When I was married, we had a joint bank account. Considering I made twice as much money as her, I got the raw end of that deal but it never bothered me. Well we got divorced, and are back together now. We have separate bank accounts and it makes things MUCH easier. If we ever get re-married we've both agreed to keep separate accounts. She just transfers some money to me each month to help with bills.
So she can make sure she isn't unknowingly marrying an $80,000 credit card debt. Seriously, in this day and age, it ain't a bad idea...
what information are you gaining? You want to check up on his account activity..? edit: not saying it's a bad idea.. just saying it is kind of an "I don't trust you" thing no matter how you slice it. you either want to make sure he's not racking up debt now or that he doens't do it in the future. (Or you want to be super nosy, I guess)
If I didn't trust him, I would have told him to give me his information long time ago. I trust him but what if I need to access his stuff? When we marry, we become as one so I have no problem him accessing my accounts. He shouldn't either unless he has something to hide.
But you already said you didn't want to seem like you didn't trust him. So does he not trust you? Why are you even hesitant on the matter if it goes both ways?
We both trust each other. I just don't want to come off like I don't trust him if I ask him for his information. I could just give him my info and see if he would do the same.
What if you and Lady_Di are each others significant other posting here anonymously and you didn't even know it.
Why are you arguing about this? Its a valid request to ask for this info if needed. Can I borrow $1000?
Im just going off the example laid in front of me from my parents. Its still works and have worked for them. My wife and I use it and it works for us because although its a joing thing, no one agrees with what the other buys all the time. People like different stuff. We,re debt free except the house and so there isn't any hidden credit card bill or anything. Like I said, she wanted a lexus. She know the rules, its either cash or nothing. She wanted it bad enough and she saved enough and paid 31K for a 06 LS430. She actually got the guy down to 25K. She saved a lot of money and even did a garage sale, took clothes to consignment and stuff and bought the car. I was happy and that's her deal. When I wanted the old school 95 BMW 850, I had to do the same,but not as long. Everyone has things hey really want when they're married, but a lot of stuff happens when dealing with money. It works for us, but it may not work for others. If we didn't have the allowance system, she wouldn't be buying those red bottom shoes and I probably wouldn't be buying hd projectors. Even though I own a small fleet of trucks, its selfish to spend more because I make it. Its give and get, push and pull. Im already retired and if she wanted too, she could too and it wouldn't change the way we live now. Its all about a happy medium.
I've actually been retired for 3 yrs or so. What i've come to understand is the less credit you have, the less you need to make it also. Instead of using the money on cars and stuff, i bought trucks. Any decent driver can get the truck paid 140k per yr. Take out for fuel and taxes along with driver pay and your looking at about 1g a week. Multiply that by 4 and that then by 52 and that how i'm retired. Its just like having rent houses owning rigs.
I thought this thread would be the right place to post this. Sorry about reopening old threads, but it's not out of style to be "financially savvy." Much more good stuff at http://finance.yahoo.com/family-home/article/110075/keeping-finances-separate-can-be-costly
Just to add my name to the tally... we have a joint banking/checking account and a credit card. Been together since October of 2004, starting sharing a bank account a few months after we moved in together (8/2005), and we we got married this past March. NEVER been an issue, and has, in fact prevented a lot of issues. There are no secrets in our relationship... including the fact that I buy lunch too often while she brown-bags it every day. There are also few slip ups in managing the our balances since there are 2 sets of eyes on it. Here's the number one thing for me though... I would be absolutely HUMILIATED if I ever had to borrow money from my wife.
