We used to have separate accounts (8 years actually). Part of that was habit (I had been on my own for a couple of years) and part of that was not knowing how to comingle. Ever since I started to get strict with our finances, I have been gradually taking over all of the bill paying and financial planning. So for the past year, we have only a joint account that I control. He's happier because he was never really good with the finances and I am happier because there is no more nasty surprises.
I think the biggest issue with separate accounts is that it requires both people to be good with their finances (unless you are doing the dolling out of play money). I don't think that happens to often.
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