Quote:
Originally Posted by sandrark
Ah, but that's the beauty of BOTH individual and joint accounts. We both contribute equally to our joint account. Anything left over of our income can be spent as we wish. The contribution to the joint account means utilities will all be paid.
But the funds left in our personal accounts mean if I want to spend $125 on a massage, or $400 on a Kate Spade bag, I can.
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This is where I have trouble with the separate account method, and this is just my personal view. I don't mean to criticize those for whom it works - just trying to explain why it wouldn't work for us.
I feel that EVERY dollar that I spend on anything affects our household's bottom line. I feel that EVERY dollar that my wife spends on anything affects our household's bottom line. If I went out and bought some costly tech toy or my wife went out and bought an expensive handbag, that is money that is gone and no longer available for other purposes. It wouldn't be fair of either of us to spend household assets in that way (unless we had previously agreed to do so). Since we would never go out and make a big purchase without discussing it first, there is no need to ever keep separate accounts.
Does that make sense?