Should We Combine

Bank Accounts When We Get Married?

Should double-income families combine all their money into one account or should they keep them separate? Before we make a decision, let’s look at the pros and cons of combining bank accounts.

Most of us learn how to deal with life situations from the model our parents gave us. Unfortunately, some of these models were better than others. Most of us have had to figure out how to manage money on our own. I’ve made my fair share of money mistakes trying to figure out this adulting thing, but throw a marriage into the mix and it is even more difficult.

How We Learn About Money

In the past, most traditional married couples had one bank account and the father was the main income provider. As times have changed, many couples are now both working and have separate bank accounts. Should double-income families combine all their money into one account or should they keep them separate?

Old School Versus New School

- I Don’t Really Trust My Spouse With Money - I Hate Feeling Guilty - I Need My Security Blanket (Savings) - I’m Embarrassed By My Spending Patterns - It’s My Money

Some Common Reasons For Separate Accounts

Do you see what most of these scenarios have in common? It’s a lack of trust in a relationship – plain and simple. Rather than taking the “easy” way out and keeping things separate, it’s time for you two to get on the same page with money.

Building A Relationship On Trust – Or A Lack Of It

Can you imagine how much power two combined incomes working towards the same financial goals have?! It’s incredible to see.

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