Money is very important today. Yet, money breaks homes. One of the trending issues in the family set up, concerns the question on the outset of this article.
Some people believe that when two people get married, they become partners and everything should be shared, including bank accounts. Really, How can you say that you trust your spouse when money is off the table?
A quick advantage of running a joint account is that you can easily access it, and make payments without the permission of your spouse. This is helpful especially when you cannot reach your spouse.
On the other hand, many people point to some bad experiences in the past and because of that, they reject the idea of running a joint account. Recently, a husband cleaned out the joint account when he had a problem with his wife. It is also possible that a spouse could make multiple withdrawals and fail to tell the other spouse. This could hurt more especially if you contribute a chunk of the money.
So what do you think? Can there be trust if money is off the table? Should a husband and wife own a joint account? I cannot wait to receive feedback from you.