Why Is It Important To Have A Separate Account In Your Life

I agree with your post. It is very critical to establish a good financial standpoint in any area of your life but especially in your marriage when choices and decisions no longer only affect your but you have to also consider your spouse, and present and future decisions as well.

I like that you deemed it necessary to separate your accounts. To me, that is a very strategic decision to make and one that could cause much controversy in a marriage. In my opinion, separate accounts sometimes show that you want to ensure you will remain financially stable and able to ensure you have the necessary priorities taken care of. Sometimes, I believe some spouses believe you are trying to hide various aspects of your money when you opt to have separated accounts. All the more, it is beneficial that you maintain having a stable financial mindset to prepare you and your wife for things that could come along. Seeing how you stated that your wife likes impulse spending, shows that a joint account may not be the best option if all your funds are essentially utilized through this account. Despite …show more content…
Therefore, we decided to not totally disband the joint account but only utilize the joint account for savings and trips. Moreover, we set up separate accounts in which to pay our bills from that were split between the two of us. Likewise, any additional money in our separate accounts could be used for things we desired to have or wanted. It can be hard having a joint account especially when one person likes to spend more frequently and another wants to save more. I am not saying you should just save, save, save, but sometimes it is ok to spend money on the things we want but in moderation and consideration of our