Re: called stupid for having joint account?!?
09-07-2012 12:01 PM
Do not worry what other people tell you. It what you do works for you both financially, that is all that matters. We have joint accounts, but I handle it all (and she would prefer it that way). We also have a monthly/weekly budget for everything as well.
Both of our paychecks and investment incomes go into our joint "big" account. This is the account that pays the CC's (budgeted spending) and bills. Once per month, we have an automatic withdrawal to satellite accounts off the big account. These are our do what ever you want with this money accounts. I cannot complain what she spends it on and vice versa. In my case I use my Freedom card and pay it off with my whatever money (unless I used it for gas for the 5% CB). If either of us want to buy something bigger than our monthy money, we have to talk about it. Some might say this kills their freedom with the money they earn, but we look at it as we are building a life together and since the money we both make supports that life (and the future) than it should go into one account.
I think it works out great for us. It keeps her from spending too much and me as well. It sounds like it works out great for you as well. Don't change something that is working out for you.
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.