If you’re married or living with your significant other, there’s a lot you share. Your home. Your weekend plans. Perhaps even a kid or two.
But just because you’re sharing a life together doesn’t mean you have to share the same bank account. Having separate bank accounts in marriage or a serious relationship may be the perfect solution to harmonious money management.
Having separate bank accounts isn’t an indication that you’re not connected as a couple. In fact, there are plenty of valid reasons why a couple might choose not to merge finances.
6 Reasons Why a Couple Might Want Separate Bank Accounts
1. You want to quit being sneaky about purchases.
2. You have different income levels.
3. You have different spending habits or money management styles.
4. You’re used to having financial independence.
5. You’ve been burned by a former partner.
6. You want to protect assets for your children.
1. You Want to Quit Being Sneaky About Purchases
When you share bank accounts with your significant other, they see every time you swipe your credit card, spring for an online purchase or make a withdrawal from the ATM.
Sometimes you might want a little financial privacy — whether you’re trying to surprise your honey with an anniversary gift or you just don’t want them to know exactly how much you spent on a new pair of shoes.
The Penny Hoarder conducted a survey in 2021 on people’s budgeting and spending habits and found that nearly 1
