Mr and Mrs Bank Accounts





View Poll Results: Do share bank accounts or keep separate?

Voters
112. You may not vote on this poll
  • Separate: hers is hers and his is his

    52 46.43%
  • Combined: shared bank account

    31 27.68%
  • Combo: we refund each other for expenses

    23 20.54%
  • None of your business

    6 5.36%
Page 1 of 3 1 2 3 LastLast
Results 1 to 20 of 57
  1. #1
    Join Date
    Aug 2013
    Location
    Forest Hills, KZN
    Age
    41
    Posts
    3,333
    Thanked: 977

    Default Mr and Mrs Bank Accounts

    See poll attached. I'm interested to see the outcome.

    When it comes to relationships, especially marriage, do you share bank accounts or is each one responsible for each item separately?
    Last edited by douglash; 2021/01/12 at 01:29 PM.
    2004 LR Discovery 2 Td5 GS - Hybrid Turbo, Intercooler, 33's, 2" Lift, V8 TC, Ashcroft CW&P 3.75 + ATB lockers. [GoldiloX]
    2003 LR Discovery 2 Td5 ES - Lots of Mods(check thread) - [Husky]
    2010 LR Discovery 4 V8 HSE - Lifted with IIDtool, Powered by Petrol and Running on Cooper AT3 LT (new spec) 265/65/18s [Imvubu] - SOLD
    Youtube Channel <-- Click Here

  2. #2
    Join Date
    Aug 2007
    Location
    Pretoria
    Age
    65
    Posts
    4,356
    Thanked: 286

    Default Re: Mr and Mrs Bank Accounts

    You miss one -

    Separate accounts, but shared responsibilities

    Also it depends on how one got married - in or out of community of property!
    Last edited by Spook; 2021/01/12 at 01:36 PM.
    "If you don't care where you are, you ain't lost"

  3. The Following 6 Users Say Thank You to Spook For This Useful Post:


  4. #3
    Join Date
    Apr 2011
    Location
    Gauteng
    Age
    39
    Posts
    546
    Thanked: 1958

    Default Re: Mr and Mrs Bank Accounts

    This is a can of worms....

    I suggest you do whatever she wants you to do....
    Last edited by Aviator_01; 2021/01/12 at 01:38 PM.

  5. The Following 4 Users Say Thank You to Aviator_01 For This Useful Post:


  6. #4
    Join Date
    Oct 2009
    Location
    .
    Age
    41
    Posts
    1,822
    Thanked: 675

    Default Re: Mr and Mrs Bank Accounts

    Wifey has her own bank accounts. She handles certain things but mostly I will transfer to her account as needed for family expenses which she takes care of.

    I have never like the joint / shared bank account.

  7. #5
    Join Date
    Apr 2014
    Location
    Roodepoort
    Age
    64
    Posts
    1,260
    Thanked: 4377

    Default Re: Mr and Mrs Bank Accounts

    We keep our monies separate. Expenses for us are split based on income. SWAMBO has my CCs for agreed expenses. Never misused. Both have our own cards also.

    We are not married - just living together 23 years.
    Jouko
    ----------
    2003 Grand Cherokee 4.7l
    2012 Smart
    Never drive a normal car 8)

  8. #6
    Join Date
    Jul 2012
    Location
    Wartburg
    Age
    60
    Posts
    1,803
    Thanked: 2258

    Default Re: Mr and Mrs Bank Accounts

    Our joint account has worked well for 35 years. Not married in community of property. She has her own business account as well, so can be independent if necessary.
    Mike Lauterbach

  9. The Following 2 Users Say Thank You to mikeml For This Useful Post:


  10. #7
    Join Date
    Aug 2013
    Location
    Forest Hills, KZN
    Age
    41
    Posts
    3,333
    Thanked: 977

    Default Re: Mr and Mrs Bank Accounts

    To give my own side, we have our own separate bank accounts that our salary goes into. Most of the debit orders come from my account.

    Then using my credit card account, we both have cards linked and setup on banking profiles so we can monitor our spends together. That way we benefit more from the bank incentives... ala ebucks, etc.

    What i'm coming across more and more nowadays is 'she pays for this, he pays for that' and if she pays for something, he puts the money into her account, etc.

    Point taken on the in or out of community of property also, but that doesn't detract from the above scenarios which I have come across.

    It's a little bit of a foreign concept to me as we have shared our 'money' from day one.
    2004 LR Discovery 2 Td5 GS - Hybrid Turbo, Intercooler, 33's, 2" Lift, V8 TC, Ashcroft CW&P 3.75 + ATB lockers. [GoldiloX]
    2003 LR Discovery 2 Td5 ES - Lots of Mods(check thread) - [Husky]
    2010 LR Discovery 4 V8 HSE - Lifted with IIDtool, Powered by Petrol and Running on Cooper AT3 LT (new spec) 265/65/18s [Imvubu] - SOLD
    Youtube Channel <-- Click Here

  11. #8
    Join Date
    Jun 2012
    Location
    Benoni
    Age
    46
    Posts
    1,236
    Thanked: 2256

    Default Re: Mr and Mrs Bank Accounts

    separate bank accounts, makes life a lot simpler - go listen to horror stories of accounts being in say the husbands name and he dies suddenly leaving the wife and kids with no money as the accounts are frozen.

    From a day to day point of view we cross fund each other as and when needed without keeping track of anything, we each trust the other to spend as needed so do not see the need to keep track of things

    end of the month excess funds goes into the bond so it doesn't really matter who pays for what.
    Last edited by mullerza; 2021/01/12 at 02:02 PM.
    Anton Muller
    Nothing screams "Bad workmanship" like wrinkles in the duct tape
    2012 Q7 4.2 TDI
    Birkin SR20VET race car

  12. The Following 5 Users Say Thank You to mullerza For This Useful Post:


  13. #9
    Join Date
    Jul 2015
    Location
    Kloof
    Age
    64
    Posts
    468
    Thanked: 1983

    Default Re: Mr and Mrs Bank Accounts

    Quote Originally Posted by mullerza View Post
    separate bank accounts, makes life a lot simpler - go listen to horror stories of accounts being in say the husbands name and he dies suddenly leaving the wife and kids with no money as the accounts are frozen.
    The above is an absolutely huge consideration.

    2015 Suzuki Grand Vitara Summit M/T

  14. The Following User Says Thank You to Ian.McM For This Useful Post:


  15. #10
    Join Date
    Nov 2016
    Location
    Johannesburg
    Age
    36
    Posts
    360
    Thanked: 246

    Default Re: Mr and Mrs Bank Accounts

    Wife and I have our own accounts, as well as a household account which we both deposit money into every month, and top up if we need to. Its in proportion of our incomes, and works quite well.

  16. The Following 2 Users Say Thank You to JadeDsantos For This Useful Post:


  17. #11
    Join Date
    Aug 2020
    Location
    Oasis
    Posts
    350
    Thanked: 2030

    Default Re: Mr and Mrs Bank Accounts

    Each have our own accounts for our own debit orders etc.

    One joint account form which we pay all household expenses, school fees etc.

    We calculate the total amount of joint expenses and contribute pro rata thereto.
    Cheers
    Willem Greyling

    "When the wise man points at the moon, the imbecile examines the finger" - Confucius

  18. The Following 2 Users Say Thank You to MANDREAS For This Useful Post:


  19. #12
    Join Date
    Aug 2008
    Location
    Harties
    Posts
    1,451
    Thanked: 598

    Default Re: Mr and Mrs Bank Accounts

    Quote Originally Posted by douglash View Post
    What i'm coming across more and more nowadays is 'she pays for this, he pays for that' and if she pays for something, he puts the money into her account, etc.
    It's a little bit of a foreign concept to me as we have shared our 'money' from day one.
    Foreign concept for me too.
    We've had one account for over 50 years and never had a single problem.
    If you make a noise or need music in the bush or on the beach, you’re missing the point.

  20. The Following 4 Users Say Thank You to PRA For This Useful Post:


  21. #13
    Join Date
    Aug 2010
    Location
    Pretoria
    Age
    64
    Posts
    168
    Thanked: 80

    Default Re: Mr and Mrs Bank Accounts

    We have separate accounts for the last 38 years and each pay agreed monthly expenses and any abnormalities I take care of. She can thus do with her money what she want to do and she does not need my consent and we do not always agree. You must also take into consideration how well your spouse is financially educated because I have friends whose wives will spend every cent there is in the account every month. Saving is not a concept they understood and it work vice a versa as well. You must absolutely have the same financial education and objectives.


    2016 Hilux 2.8 GD6 4x4 Dc
    2019 Wildebeest Serengeti

  22. The Following User Says Thank You to Millie For This Useful Post:


  23. #14
    Join Date
    Mar 2016
    Location
    Cape Town
    Age
    30
    Posts
    3,106
    Thanked: 2564

    Default Re: Mr and Mrs Bank Accounts

    Separate accounts but shared responsibility.

    Who ever goes to the shop when something is needed, pays
    Always think: Could this be sarcasm?

    André Opperman

  24. The Following User Says Thank You to Oppies3800 For This Useful Post:


  25. #15
    Join Date
    May 2012
    Location
    Centurion
    Age
    35
    Posts
    1,438
    Thanked: 1884

    Default Re: Mr and Mrs Bank Accounts

    Separate accounts.

    I pay for everything (even majority of the groceries) except the once a week domestic.

    Swambo pays me a "set fee" per month. (It barely covers her Med Aid)

    I believe I am loosing out on this deal.

    At least I am not paying for her hair salon trips.
    Sarel
    "Grent" Vitara
    EX- EL JIMBO - RED AND "FAST" 8)

  26. #16
    Join Date
    Jun 2014
    Location
    Benoni
    Age
    30
    Posts
    271
    Thanked: 1121

    Default Re: Mr and Mrs Bank Accounts

    Quote Originally Posted by New View Post
    Separate accounts.

    I pay for everything (even majority of the groceries) except the once a week domestic.

    Swambo pays me a "set fee" per month. (It barely covers her Med Aid)

    I believe I am loosing out on this deal.

    At least I am not paying for her hair salon trips.
    I presume you don't disclose this to clients before negotiating anything on their behalf

  27. #17
    Join Date
    Apr 2014
    Location
    Roodepoort
    Age
    64
    Posts
    1,260
    Thanked: 4377

    Default Re: Mr and Mrs Bank Accounts

    There are two methods that can cause huge issues:
    - Neither one has no money for totally private use
    - One earns money but doesn't contribute anything towards common expenses

    Both scenarios happen.

    In a traditional Spanish family female handles the money. When man asks money for bull fight wife is not asking questions. Better not as that money may go for services rendered.

    The point is that different cultures have different rules. In our case we have many cultures and there have been huge changes. There are many on this forum who married at the time when wife had no say on money issues, could not sign papers but was protected by a law. Husband had to provide living standard based on his income.
    Jouko
    ----------
    2003 Grand Cherokee 4.7l
    2012 Smart
    Never drive a normal car 8)

  28. #18
    Join Date
    Jul 2011
    Location
    127.0.0.1
    Age
    37
    Posts
    662
    Thanked: 281

    Default Re: Mr and Mrs Bank Accounts

    Apart from some legalities, this separate accounts thing does not compute with me.

    My view is, we have a bond in both our names, we both enjoy and eat all the food in the house, we both work hard on two kids to raise and feed them, we both travel in and enjoy the same cars and we both enjoy holidays together. Paid with money both of us worked for to do this "life" thing together. What then is the difference if I "pay" for groceries/car installments/kids school fees/fuel or she did?
    Last edited by IcePick88; 2021/01/12 at 02:52 PM.
    2007 Nissan Pathfinder LE 2.5dCI 4x4
    2013 Nissan Xtrail 2.0dCi XE 2x4

  29. The Following 4 Users Say Thank You to IcePick88 For This Useful Post:


  30. #19
    Join Date
    Nov 2013
    Location
    Benoni
    Age
    42
    Posts
    136
    Thanked: 207

    Default Re: Mr and Mrs Bank Accounts

    I find it so much easier to just do recons on the one cheque account and one credit card as opposed to doing it on more accounts.

    2 is already tedious but at least i know why im broke at the end of the month as it is all there in black and white columns in excel. I pay some monet to swambo for what im really not sure but every once in a while this does allow the odd surprise weekend or to smooth over any bumps encountered along the way.

    She has her own credit card as well - this would be the emergency back up if met my end. She also knows to go and transfer money out of the credit card and also any access bond funds prior to informing the bank of my demise and clear to her own account.

  31. The Following User Says Thank You to natand For This Useful Post:


  32. #20
    Join Date
    Jul 2011
    Location
    127.0.0.1
    Age
    37
    Posts
    662
    Thanked: 281

    Default Re: Mr and Mrs Bank Accounts

    Quote Originally Posted by natand View Post
    She also knows to go and transfer money out of the credit card and also any access bond funds prior to informing the bank of my demise and clear to her own account.
    This.

    My wife also has her own account at the same bank as our shared account. Used for UIF when she was on maternity leave. She knows she needs to transfer all funds from the cheq to her account when I keel over.

    Does a shared bond also get frozen? Cuz there is also monies in there she can use from the access bond.
    Last edited by IcePick88; 2021/01/12 at 02:59 PM.
    2007 Nissan Pathfinder LE 2.5dCI 4x4
    2013 Nissan Xtrail 2.0dCi XE 2x4

Page 1 of 3 1 2 3 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •