Someone asked me what I think about this issue. Should a couple have a joint account?
In a Relationship?
I advise (it’s a suggestion) you don’t implement joint account.. Wait till you’re married.. E get why.
Married?
I personally don’t advocate for any method of managing finance in a Marriage that will make any particular Partner financially powerless and unable to independently have and spend money.
Here’s the model I suggest
Husband has his own personal account
Wife has her own personal account
Then Husband and Wife have a co-owned joint account that they’re both signatories to.
They both contribute an agreed amount from their individual earnings to the joint account, and keep what is left from their individual earnings after the contribution for themselves individually.
This way, both parties are not stranded in any emergency situation or day to day personal needs.
They have separate individual accounts with money inside for themselves and a joint account with money inside for the family.
The joint account can then be used to take care of major bills, rent, purchase a new car, school fees, feeding etc..
The money in the joint account is used after discussions and agreement by the couple. It’s OUR MONEY
The money in the seperate accounts, the owner decides how they use it. It’s MY money.
In every marriage, nobody (husband or wife) should be rendered financially incapable.
The above is only a suggestion.
Every body can decide to do as they wish in their own Relationship or Marriage. What works for one may not work for all.
Trust, God, Transparency, Honesty, Truth, Integrity and Love should be allowed to actively drive this department of any marriage. If not………
Money dey change Person oh.
E go shock you.