Joint Account and Marriage/ Relationship.

Group A says, if you trust a person enough to agree spending the rest of your life with them, then you should trust them enough to have a joint account and be able to manage your finances as one body!

Group B says, agreeing to spend the rest of your life with someone doesn't necessarily mean you can trust them with your money. Money and love should be kept separate!

Group C says, having the best of both worlds is the best option. Both parties should have personal accounts for personal expenses and have a joint account for household expenses!

There are pros and cons to having a joint account with your spouse.

The pros-:

* Being able to keep tabs on each other's spending means, their will be no surprises.

* That level of trust could make a happier marriage/relationship.

*In the case of death, the surviving spouse would have immediate access to the account without the need for a will.

The cons-:

* Loss of independence.

* Entering into joint account with unequal account balance can be an issue.

*Messy break-up or divorce.

I will be talking about the importance of discussing your finances just before you get married or commit to a serious relationship. WHAT DO YOU THINK? I would like to hear what works for you and your spouse. Let's start this conversation......!!

Remember be kind and let's keep on loving....