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To Joint Account or Not to?
 Moderated by: actroub  
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Mana: 
 Posted: Mon Feb 22nd, 2010 01:24 am
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I am a career woman soon to be married.  I make more money than my fiancee.  I am considering keeping separate bank accounts and one joint account for family expenses.  What is your opinon on this?

actroub
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Mana: 
 Posted: Tue Feb 23rd, 2010 12:40 am
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Gone are the days when a wife can depend upon a husband as the sole breadwinner of the family.  In the modern economy, husbands and wives are out, working in full partnership in the rearing of a family, dividing the work of earning money as well as housework, cooking, dishwashing.....

When two people get married, they are united in body, mind and spirit, but not MONEY?  This is not a question that can be viewed from a single perspective.

My personal experience is this:  Opposite attracts, and I see many cases where one partner is a spendthrift, while the other is a tightwad.  Then, of course, there's a lot of fight over money, because one wants to spend, another wants to save.

Here is my suggestion:
1. Talk about money right at the start of the marriage.
2. Set up a joint account and contribute to the joint account.
3. Decide on an amount to contribute to each of your own fund where you can  have complete liberty to spend without consulting the other partner.
4. Set a rule so that all major purchases must be agreed by both partners;  no major purchases can be made by only one partner. 
5. Do not buy anything you cannot afford.

There you go. This is not a marriage counselling session, but the above rules work.  and hey!  be careful, when the money is gone, love can just fly out the window.  Don't let money be the issue that splits you apart.  Talk about it before you tie the knot.


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