A. Managing your money can be really frustrating to do when you are trying to do it with someone else. Some married couples have said that they think the best thing for them is to just have separate checking accounts. So, is it really that bad to have separate checking accounts?
We believe that once you are married, you become one as a couple, therefore you should merge all of your accounts. This is challenging, but once you get married nothing is really "mine" but "ours."
Having one checking account also prevents hiding money, and allows for more openness and honesty.
You should set up one person to be the manager of the bank account, but remember that this person does not have "supreme authority." Marriage is about serving one another's interests and coming into agreement on what should be done with "our" money.
But if you are engaged or dating, we encourage you to keep your checking accounts separate until you have tied the knot.
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