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This week: Are joint bank accounts a good idea?
A new study has shown that two fifths of couples would never have a joint bank account, with the main reason cited being ‘privacy’.
This is another example of why couples split up. It is the lack of commitment - the ‘what’s mine is mine’ mentality. In my book, there is no good reason for not sharing an account. One Heart Breakfast listener phoned us to say it would be a ‘hassle’ to have a joint account if his missus left him. If you think this then surly your level of trust is such that you shouldn’t be together. I am of the belief that you unite and work as a team and besides it’s got to be easier than managing two accounts.
Let’s be honest though, it is more likely to be the girls who would be less likely to share what they have despite for generations happily taking the mans salary but sharing an account would mean that they would find it hard to say you only paid a few pounds for those shoes.
I would be offended if my wife were to refuse the offer of a joint account and the excuse, ‘what if I wanted to buy you a present - you’d know how much it cost’, as a pretty weak excuse.
I don’t have one at the moment and I promise you I never will. I am not alone in my refusal to have a joint bank account. 41% of couples polled say they won’t have one either. It has nothing to do with trust or privacy which is a couple of the reasons people said they don’t want one. For me, it is simply a case of practicality.
When two people get together, move into a place or buy a property it doesn’t necessarily mean that you have join your finances. The mortgage and the bills for your home can be easily worked out and then divided between the two of you. What is difficult about that?
I don’t have a problem with my partner asking to borrow cash from me or even drawing money out of my account with my card if he needs to. What’s more, I am pretty sure he’s happy with this arrangement as well. I don’t have an issue with him knowing how much I earn (he would know if we got a mortgage together), but I do want to keep a little independence by having my own bank account. I want to buy things for me or my daughter without having to ask if it’s okay and if I have my own account and I don’t have enough money I don’t buy it.
I also want to buy my partner things without him knowing; if we had a joint account, he would be able to see the surprises.
It is not that I don’t trust my partner - far from it - but we can be together, without having to put all our money together, surely?
Read more He Says, She Says here