Should You Have a Separate Bank Account From Your Spouse in 2023?

My wife and I are approaching nine years of marriage and I can’t remember ever having a big fight about money. Sure, we bicker about money on occasion. Who doesn’t?

Should Your Family Have Separate Bank Accounts?

I think being aligned with money is very possible with separate bank accounts. Ultimately, it comes down to what works best for you and your family.

Our Decision to Keep Separate Bank Accounts

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 combined accounts. 

Our Rules With Separate Bank Accounts

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

Our Rules With Separate Bank Accounts

2) Even though we have our own accounts, we still discuss major purchases. We do not have an exact threshold, but it usually ends up being anything about $200 or $300. 

Our Rules With Separate Bank Accounts

3) We let each other know when money is tight. At least once a month one of us is asking the other how we’re doing with our money. We’ve grown to just kind of know when one is in better shape than the other.

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