Should Married Couples Have to Separate Bank Accounts?

In an era where financial issues are the second leading cause of divorce, I’m proud to say that this is one thing that has never been a significant issue. So what’s our secret?

Our Decision to Keep Separate Bank Accounts

I’d say that we’re both natural savers instead of spenders, so we have never had issues making this work for us.

The bottom line, do what works best for your family. If there are trust issues, or if one partner is a big spender and needs some accountability, then, by all means, go for joint accounts.

Our Rules With Separate Bank Accounts

We are not allowed to take on significant credit card debt. In addition to our bank account, we also have our credit cards.

How We’ve Managed Our Money With Separate Bank Accounts

We’ve never kept a budget. However, we’ve used for years what has been coined as the anti-budget by Paula at Afford Anything.

Write Down All Regular Expenses

This included mortgage, student loan payments, internet, groceries, gasoline, day, and anything else that we paid for regularly.


Determine Giving, Savings, or Additional Debt Payments

Writing down our regular expenses gave us an idea of how much we could dedicate to either giving, saving, or additional debt payments.


Determine Slush Money

What is slush money? This would include anything that isn’t a regular monthly expense identified in steps 1 or 2.


For example, going out to eat, tickets to a sporting event, grabbing a latte from the local coffee shop, buying a wedding present, or other random or infrequent expenses.

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