November 3, 2015
Red Flags With Joint Finances

Opening up a new bank account doesn't have to be a red flag in your relationship.

If the person is financially responsible then there should not be much of a problem. I opened my first checking account when I was 10 years old. I had a newspaper route. It turned out to be the most convenient way to manage my account. From that time going forward, I was responsible for my own personal expenses. This included school lunches, clothes, transportation, musical instruments and entertainment. After high school, I put myself through trade school and college.

For someone like me, the thought of a shared checking account seemed ridiculous. My wife disagreed at first, but soon forgot about it because she had her own money and I took on paying all the bills. If someone is not responsible enough to maintain a separate checking account, then marriage may not be a good idea at all. 

Jerry


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Posted by Staff at 10:57 AM