How many bank accounts?
If you get married, how do you want your finances to be arranged?
- one shared account
- two separate accounts
- one shared account, and two personal accounts (3 accounts)
I recently conducted an informal survey among recently married couples and people at various stages of relationships. The majority prefer and are using the one shared account system. This has been the traditional way of organizing finances and is simplest. The “downside” is that you have to trust that your partner is adult enough not to empty the account and put it on red at the roulette table.
In my recent search for popular advice on this subject, the experts seem to be recommending the 3 accounts system, implemented in a transparent fashion. That is, even if the two personal accounts are to be used by each person as they see fit, the amount of money going into these accounts would be known by both parties. I think that this advice mostly grew out of the divorce rate that we have been observing for the last few decades.
Perhaps I am being exceptionally naive in my list of options. What should happen in the two accounts, 50/50 expenses situation if the wife gets pregnant? What about changes in the job situation? The one account setup is superior in handling these exceptional, yet typical, situations.
If you are keen, please fill out my survey. Thanks!
