Your Marriage with Separate Checking Accounts

We see many first marriages occurring where the bride and groom are well into their thirties because more and more people are waiting to marry until they have established careers, and with them a sense of independence when it comes to managing their finances. It is perhaps the leading reason why a growing number of couples today are married with separate checking accounts. If you are about to get married, or have been married for a while, you may be interested in keeping separate accounts. Here at PaydayLoansCashAdvance we’ve gathered some information on separate accounts and married for you.

As stated above, there are many reasons why you may be married with separate checking accounts. Another reason is so that each half of the couple can maintain and nourish their own credit history and credit score. If having separate checking and married is something that interests you, consider these tips to help you along the way.


Many couples choose to split household bills down the middle, with each paying their half from their own checking account. This may sound fair at first, but in nearly every couple, one person earns more money than the other, even though they may work as many – or more – hours in a pay period. When this is the case, it’s usually best to start with a ‘proportional method’ of paying the bills. If, perhaps, you make 40% more than your spouse, your portion of the bills would be 40% higher. This is a level of fairness that allows both a more equal footing

Shared Account for Shared Expenses

For some couples, they find that sending payments from separate checking accounts which total the amount due is a little too much. And let’s face it, sometimes those processing your duel payments don’t understand and the account is not marked paid in the correct way. To avoid this problem they open a third checking account and use it jointly. This account is used to pay all shared expenses with each member of the couple making deposits from their personal and separate checking accounts. It’s also possible if you have direct deposit on your paycheck, to have a certain amount deposited to your joint account (to handle the monthly shared expenses) and the remainder to your personal checking account.

Separate Accounts for Non Shared Expenses

Some married with separate checking account couples simply take a look at the whole of their bills and make a decision that he will pay certain bills while she pays others. For instance: he may pay the mortgage, insurances and one of the credit card bills while she pays the utilities, cell phone bills and the other two credit cards. It’s all part of being fair and the method you decide on has to be one that works best for you. Keep in mind that over time, you may have to rethink your money plan and that brings us to the most important part…. Talking about money.

Money Talk

No matter if you have all joint accounts or are married with separate checking accounts, one of the best things you can do is have frequent, open and honest communications about money. As a married couple, you have a partnership and your spending – no matter what kind of account is comes from – should be something you openly discuss. There is, for instance, no buying a bass boat with his money, when she doesn’t have enough to pay the light bill. Make sure that your spending is controlled and planned before-hand and keep in mind that the bill paying plan you came up with when you were renting, won’t be the same after you buy a house.

Things to think about it

  • Under federal law, your spouse’s debts are also your own, so it’s important that all debts in both names are paid in full and on time.
  • In case of emergencies, it’s a good idea to allow your spouse to be an authorized user on your private checking account. No matter how bad an emergency is, some of your debtors will not forgive a late payment because you couldn’t access your spouse’s account to release the funds – or write the check.
  • There are some folks that have a tendency to spend money as soon as they have it, if you’re the more responsible half of that relationship, having separate accounts is a great way of helping your money be used more responsibly.
    If your spouse-to-be is racked with debt, student loans, alimony payments, credit card debt etc. It’s a good idea to have separate checking accounts and married. It will keep your credit rating from plummeting.

No method is right or wrong for everyone. In fact, the only right method is one that works, and the only wrong method is one that doesn’t. Whatever method of keeping accounts you decide upon, make sure it works – and keeps working, you may have to alter the methodology if income or expenses either increase or decrease. Nothing is ever set in stone.

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