25 thoughts on “Should couples run a joint account?

  • August 21, 2019 at 12:08 pm
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    Joint accounts are necessary, but not compulsory. This is depend on the personalities involved, how they’ve decided to fund projects at home, whose responsibility a certain project should be, how much they intend to set aside month or as the case may be. Together, a couple may decide to build, buy electronics, save for kids, and unwanted needs of relative, health, travels, shopping etc. It is all for accountability and discipline and management, but shouldn’t preclude each of them having separate accounts.

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    • August 21, 2019 at 12:30 pm
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      I get your point about it being a necessity but not compulsory. But who decides how the money is disbursed and what if one spouse suddenly turns a shopaholic with the family funds? What happens then?
      Moreso, won’t they now feel obliged to always state how personal funds are spent?

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      • August 21, 2019 at 1:36 pm
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        I don’t think it should be much of a problem. I believe partners should know how much each other earns. They should also have a REASON for operating a joint account. That way, they decide how much to set aside per time (least amount). IF they foresee trouble and are better off without it, FINE! I also think they should agree on every expenditure, bearing in mind that it’s a pool of funds.

        Can partners still do stuff without a joint account? Yes, Effectively!
        I believe a joint account could further strengthen a bond, their sense of responsibility and transparency.

        Ideal situations

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        • August 21, 2019 at 8:34 pm
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          Ideal situation you said.
          But in my field of study, it is generally accepted that there’s no such thing as ideal situation when you’re referring to reality.
          But I get your point clearly though

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  • August 21, 2019 at 12:51 pm
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    Joint account for couple is under probability for some people, For me It’s OK to have a joint account bcoz as a couple when you wanna look into the expenses at home and for the children, if the husband alone is contributing in the expenses alone, one day he’ll start complaining that he’s the only one spending vice versa with the wife..For me, I will love joint account with my husband but that doesn’t mean I can’t have a separate account, half of my salary can go to the joint account and half for my personal account, the joint account can cover everything for our INSURANCE and other RELEVANT things, the minor things I as the wife or my husband can choose to do it..The joint account can also contribute to the growth of our businesses, Yes its true one must take permission before taking any money from the joint account, As a couple the matter must be discuss before u taking the money if only d demand for d money will bring more profit but in the case of the account being separate, it will look as if they’re hiding things. I prefer JOINT ACCOUNT WITH MY HUSBAND

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    • August 21, 2019 at 8:28 pm
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      I’ll only agree to this if we’re earning the same salary scale. It won’t be fair to be on different salary scales yet contribute the same amount. Plus you’ll agree that women maintenance is generally higher, thus, more personal responsibilities. For guys, I believe their expenses reduces greatly once they stop looking outside

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      • August 23, 2019 at 6:55 pm
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        Nowadays, women also look outside… o.

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        • August 23, 2019 at 11:39 pm
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          The occurrence rate however with respect to that of men is low

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  • August 21, 2019 at 12:55 pm
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    I think it’s important for a couple to have a joint savings account since marriage is a joint partnership. It is a way to pool funds into one place. It encourages accountability, transparency and good organisation. They can save together to buy a house, set up a trust for their children, buy a car etc.

    However, this is not compulsory. Some people are content with being transparent with their personal funds in their separate bank accounts without a need to save together in one account.
    I encourage joint savings account but not joint personal account. Each partner can keep whatever he/she earns but contribute a certain percentage to what the couple is saving.

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    • August 21, 2019 at 8:30 pm
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      Only for savings? How about other bills that requires attention in the home? Whose personal account will fund that?

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  • August 21, 2019 at 1:01 pm
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    it’s primarily about understanding and sincerity of purpose. a joint account if decided on should involve thorough planning of the budget, the allocation formula, withdrawal limit for the month and ofcoure something for miscellaneous. strict adherence can save unnecessary disagreements and frictions in the future. but should they opt for seperate accounts, a reasonable level of accountability is expected. secrecy in marriage is bad.by the way, couples these days hardly operate joint accounts, how baba wan tek fund im girlfriend? & how madam wan tek sponsor her plenty owambe…

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    • August 21, 2019 at 8:31 pm
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      Exactly. People who have skeletons in their cupboard hardly support this notion. The other sect are the ones with trust issues. They argue that anyone can turn tiger anytime

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  • August 21, 2019 at 1:21 pm
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    I prefer a trust fund for the children than a joint account.

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    • August 21, 2019 at 8:32 pm
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      Well, I’m only finding out about trust funds today. I’ll figure out what that is about tomorrow

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  • August 21, 2019 at 2:28 pm
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    I would say a big YES, but under some conditions!!!

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    • August 21, 2019 at 8:35 pm
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      Please share with us this said conditions. Thank you

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  • August 21, 2019 at 3:14 pm
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    exactly My point too

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  • August 21, 2019 at 4:58 pm
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    Yes. Because it will help to save more money when working together and also your financial affairs are more straightforward

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    • August 21, 2019 at 8:36 pm
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      So other than on the basis of straightforwardness and savings, you won’t support the notion?

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  • August 21, 2019 at 8:19 pm
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    Formular for joint account can be done on the basis of the husband and wife contributing just 50% of respective salaries into a unity account and the both parties hold their respective share.

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    • August 21, 2019 at 8:38 pm
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      This can be a valid case but what if the gap in their earnings is dangerously high and especially tilts greatly for the woman? Then what happens?

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      • August 23, 2019 at 6:58 pm
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        And what’s wrong with the gap….. True love doesn’t observe gaps.

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        • August 23, 2019 at 11:38 pm
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          But yet it is generally believed that the man should contribute a higher percentage financially in the home.
          #justsaying

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        • August 23, 2019 at 11:38 pm
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          True love comes with responsibilities. Yes.

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