i need someone to tell me the merits and demerits
of having a bank account by a  spouse.

my uncle's wife has been saying this to her husband and is generating to the extend that my uncle is getting tired of this woman.

please your advice will go a long way.

thank

emtar

My husband and I have a joint bank account but also seperate bank accounts.

We use the joint bank account for household stuff and our private bank accounts for our fool around money.

We have it set up that I pay 38% and he pays 62% of the total monthly costs to run the house. We both deposit our share of our salaries into the joint account and the rest goes into our private accounts.

We dont ask each other what is in our private accounts, but I know what is in his as I balance all the account check books each month.

The benifit of having the joint account is that there is one place to look for payments, so if i need to prove the electric bill was paid I just look in the joint account. When I go food shopping I use that card to pay for it. And there is no mixing of my spending cash with the household cash thus no over spending on my part or his (he likes to spend as much as I do).

sistawoman said it all, as much as you have a joint account, have a separate one as well for ur own personal expenses and no one will question u how much and wen u bought a new pair of shoes

yep, its good to have a joint account and at the same time separate accounts.

In our case, we have 2 joint accounts. 1 for savings for the family and 1 for bills.

Then we have seperate accounts which we can spend any way we please, It has worked for us like this for 10yrs and nto looking to make any changes.

We deposit our share of family funds into each account and the rest goes into our personal account.
Just like sistawoman, my hubby never asks me how much I have but i know how much he has. Even still he gives me money to get my hair and nails done and extra spending money to add to what I have. He says that his his part to take care of me even if I have my own money to spend.

Well i think to right thing to do ia have a joint account(preferrably)
And also have your own personal bank account for privacy reason.
you can also get some advice for building up your home in a good way at www.powersofprayer(dot)(dot)com

All those joint account advocates, una dey try o. As for me, separate accounts remains the best option; of course nothing stops her from asking me for money and vice versa. It will help to forestall potential flash points like:

''You seem to be spending a lot of money now a days; our account is in the red . . . again"

''Aw honey, I wanted to use the money in the account but I discovered you've just withdrawn it''

''I noticed you've not paid anything into the account for the past three months, yet you keep withdrawing from it'' 

etc. . .

It's great to hear from the established couples, @ sisterwoman, hotstuff, hotstepper et al. I always wondered how other people do it. When the woman is working, there is always the chance of the hubby being laid back about things like 'chop' money. Some men go as far as keeping separate bank accounts, letting their wife keep hers too, but keep loaning money from her all the time, which I hear can be so annoying bc they usually pay back in pieces! I like the joint account+separate account combo, it fits matured, sensible couples. But for women with wily husbands, too bad. They have a way of acting as if they're annoyed you're making your own money -almost as if they prefer you were depending on them for your every kobo! Some men sef.

@poster

A true generic marriage (not the so called today's marriages), the man and woman are truly one. As a result, one account is truly needed.
See - a true generic marriage: the woman is a wise one that keepeth her house + everything you can say about a true help mate; the man is also everything you can say about true husband.

However, since marriages today are no longer true generic ones but wetin called - accounts should be established based on understanding of each others strength, and knowledge of the times we lived in.

Abi you go allow a woman to spend all the house money on makeups and fashions?

Also, abi you as a wise woman, go allow your hubby to spend the family's money unwisely without acting like Abigail from the bible.

Your choice!

Sounds like a trust issue??

Otherwise i dont really see what the big deal is really!!!