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Nairaland Forum / Nairaland / General / Family / Having A Joint Account With Your Spouse, Good Or Bad? (3028 Views)
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Having A Joint Account With Your Spouse, Good Or Bad? by OduntanGabriel(m): 12:05am On Sep 11, 2014 |
They say love of money is the root of all evil, and it certainly can be when it comes to your relationship. Money can come between you and your partner and cause irreparable problems. But it doesn’t have to be that way. Couples building a life together have to answer this question: should we have a joint bank account, or should we not? Do you think having a joint account with your spouse is right ? If yes, give your reasons. |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by Baddestguyp(m): 12:07am On Sep 11, 2014 |
Im personally against it 3 Likes |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by MrDoGood(m): 12:23am On Sep 11, 2014 |
not bad at all. at least she will knw wen u are broke. instead of her thinking u hv wen u actually don't. at least, d both of u go broke together ![]() ![]() ![]() ![]() 1 Like |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by Jennydoris(f): 12:47am On Sep 11, 2014 |
Am not married yet, but I prefer to have a separate account of my own. But I have a sister cousin of mine who is married. She once told me during a visit to her house that she opened a joint account with the husband. I was like 'what'. And she said, nne please calm down let me tell you. She said both she and the husband have their own personal account but then after attending a seminar which centres on family and how to manage it's finances, they decided to open a joint account which is mainly for the family's upkeep. They also opened a three separate account for their three kids, the first one is in JS1, the second is in Primary 5 and the third one is in Primary 2. Now the husband is a graduate but due to unemployment he went into business and the wife is a worker. So at the end of every month they have a stipulated amount of money that they pay into their kids account. And she said, that of the kids is to help them cater for their expenses of tertiary institution when the time comes, the account withdrawal slip is with her mum, and then the joint account they also have a certain amount of money they pay into it as the case maybe. And they do it every month end. At first it wasn't easy she said, but now it has become a normal family routine for she and the husband. The joint account is mainly used by the two of them. They can withdraw from it but both parties have to be aware and the withdrawal must be for a very good reason. She said the joint account is for unforeseen contingencies. And they have been benefiting from it ever since. Hmmm! After her explanations, I started having a different thought about having a joint account with my husband in the nearest future. She said it must be for a very good reason. It's strictly for the family's upkeep because if you keep on spending from your own personal account then there will be no savings and nothing to rely on. So it's better to open an account that is for the family. 4 Likes |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by ibdeals1(m): 12:59am On Sep 11, 2014 |
Not a good idea 1 Like |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by 1one: 1:04am On Sep 11, 2014 |
Just as the poster above me says...I've always planned that when I get married my wife and I would have a joint account for either family upkeep or major projects say; building our house, or sending the kids abroad for schooling or for yearly summer trips around the world etc.. and for other major things.. .However this would not prevent either of us from having personal accounts, but the joint account would be fed from our individual accounts. .In essence, having a joint account is good putting aside all other character flaws as relating to individualistic lack of financial prudence , pride, tendency to cheat and so on. 2 Likes |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by MisterLongman(m): 1:06am On Sep 11, 2014 |
I don't support it...... No matter what, there are some spending that will cause disagreement between them....... 1 Like |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by leki10(m): 1:33am On Sep 11, 2014 |
OduntanGabriel:I dnt tink dey shuld av a joint acct. Evryone has the liberty to spend witout close scrutiny 1 Like |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by Nobody: 6:13am On Sep 11, 2014 |
I don't buy d ideaa; |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by Opiosko: 6:46am On Sep 11, 2014 |
1one: Just as the poster above me says...I've always planned that when I get married my wife and I would have a joint account for either family upkeep or major projects say; building our house, or sending the kids abroad for schooling or for yearly summer trips around the world etc.. and for other major things.. .However this would not prevent either of us from having personal accounts, but the joint account would be fed from our individual accounts. .In essence, having a joint account is good putting aside all other character flaws as relating to individualistic lack of financial prudence , pride, tendency to cheat and so on.Seconded 3 Likes |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by Opiosko: 6:55am On Sep 11, 2014 |
leki10: I dnt tink dey shuld av a joint acct. Evryone has the liberty to spend witout close scrutinyYou missed the point, joint account does not mean either of the spouse won't have separate individual accounts. Joint accounts are for project purposes. For instance Building project or buying a new ride. Here the couple decides that each of them is to contribute a certain percentage (let's say 20/30) of his/her income at month end into the joint account.....It's really a good option for people who have a home, not just a marriage. 1 Like |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by UuzbaGuuzba: 7:42am On Sep 11, 2014 |
One of the easily misquoted passages of the Bible. Easily misquoted by those who refuse to read it meditatively. Money is not the the root of all evil. Check your Bible. The [size=18pt]Love[/size] of money is the root of all evil. It is this [size=18pt]Love[/size] of power through the use of money that constitutes all evil. It simply destroys humility. You know very well that if a couple had a joint account, then they are bound by condition to explain always to each other what they spent the money on. Dear, why did you withdraw N100 from our account? I got an sms notification. It is even on our statement. Oh Dear, it was Gbenkechi O. I that girl asked me to buy her recharge card. Who the h*** is Gbenkechi? Kesele don gas! Well, I think a joint account is very good for a couple because it strengthens the bond and humility between husband and wife. If your wife is truely flesh of your flesh, then why are you afraid to know yourself better as you are? Unless she is not and you both are still having trust issues. Better to start reading some counselling books now and do deep spiritual prayers and fasting. (More than Pastor Chris O). |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by Samguine: 7:42am On Sep 11, 2014 |
OduntanGabriel: They say money is the root of all evil, and it certainly can be when it comes to your relationship. Money can come between you and your partner and cause irreparable problems. But it doesn’t have to be that way.Money is not the root of all evil. It is the love of money ![]() |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by bukatyne(f): 7:45am On Sep 11, 2014 |
UuzbaGuuzba: One of the easily misquoted passages of the Bible. Easily misquoted by those who refuse to read it meditatively. Hmmm Very correct |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by OduntanGabriel(m): 8:30am On Sep 11, 2014 |
OduntanGabriel: They say love of money is the root of all evil, and it certainly can be when it comes to your relationship. Money can come between you and your partner and cause irreparable problems. But it doesn’t have to be that way. |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by Missy89(f): 10:44am On Sep 11, 2014 |
The Highest earner will always be against it. Its simple logic 1 Like |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by muffins99(f): 1:55pm On Sep 11, 2014 |
A joint account is a good idea as it promotes responsibillity and accountability on both sides. There wont be any of the 'but i pay the school fees and rent and you only buy food' wahala. It is important though, to agree what percentage of your incomes will be paid into the joint account ( I don't recommend more than 80% unless you both earn very little). You should also decide whether or not you will take out an overdraft and what expenses will be funded from the account. However, a joint account is a bad idea if your partner cannnot be trusted with money either because they've bad spending habits, don't know how to manage money or they're planning to leave you and take all the money with them. Never put all your eggs in one basket or else..... |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by babestell(f): 3:18pm On Sep 11, 2014 |
muffins99: A joint account is a good idea as it promotes responsibillity and accountability on both sides. There wont be any of the 'but i pay the school fees and rent and you only buy food' wahala. It is important though, to agree what percentage of your incomes will be paid into the joint account ( I don't recommend more than 80% unless you both earn very little). You should also decide whether or not you will take out an overdraft and what expenses will be funded from the account. Well said |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by teeboo: 5:38pm On Sep 11, 2014 |
To me its not a good idea , it can cause prob btw d couple,we're frm diff home,diff background and diff family responsibility,in a situation where one of them is d first child and both parent are jobless,plenty sibling to be sent to schl by him or her and @ d same time feed d whole family. And d oda partner has no responsibility at all,problem might start frm there as d partner with plenty responsibility will be spending more dan wot he/she earns since dey're running a joint acc. my opinion though |
Re: Having A Joint Account With Your Spouse, Good Or Bad? by Nobody: 6:31pm On Sep 11, 2014 |
It works for me n I think it kind of stabilizes my home. |
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