I dont get why someone would want to hide their financial situation from their spouse. Family and in-laws, sure. But your hubby/ wife is who you should be planning your life with.
I’m seriously curious as to how these people live their lives guessing if they’re going to be financially ok for the things you listed: Retirement, children college funds, mortgages/ other loans…
well if you have a spouse who is likely to object to the way you use your moneys - buying shoes, paying in law's mortgage, donating to green peace, lingerie fund for mistress etc.. it may be easier to just keep it all hidden.
Personally, I think it’s good to keep some independence even after marriage. My and hubby opened a joint bank account right after the wedding.. Money that I earnt earlier I have kept separately in a savings account, hubby is aware of it and roughly how much I have, he doesn’t feel the need to know any more, and whatever is in there’s for OUR future. Whatever we earn now goes into the joint account, bills etc come out, and what’s left we are going to put into savings. Easy peasy.
Is it ok to share your Account Details with your partner? Besides Email passwords, I am talking about Bank Account Details? Like he/she can operate it in your absence too? Is it ok?
I lately discussed it with one of my friends that my hubby can operate my bank accounts too and she was like.... Why?? You shouldn't give him access.....I said, I fully trust him but she said, still!!!!!!!!!!!!! Am I wrong? Is she right?? :(
depends upon circumstances and both individuals. When I was married I didn't share my details with him as he never shared his and not having a joint account with him was I think was one of the wisest things I did otherwise I would have been absolutely without money at such crucial time in my life.
we both have access to each others passwords for everything and bank details as well like pin numbers etc its not a big deal if you aint got nothing to hide :P
My husband and I share a joint account, and I also have a personal account. I contribute to our joint account what I please, and at times I'll contribute to larger projects when I feel it's appropriate. My husband doesn't like touching the money I earn, unless I willfully hand him that money for our use. We share access to most things except to my personal account and assets. Some of my assets were directly given to me by my parents, and those things he will not touch, unless my written will designates otherwise. We are fully aware of one another salaries and obligations, and work on excel sheets together, in order to better judge our finances.
Joint account and that's all..and both of us earn, he manages the accounts, bills, and sometimes we talk about it. But I have never seen as my money, your money or feel the need to keep a separate account for my personal expenses. We both spend whatever we want to but if its something more than $50.00, we do consult be it for home decor, personal needs or whatever pleases us!
I have a joint account and also a seperate account which my wage goes into, hubby has a seperate account which his wage goes into. both of us opened the joint acccount for savings and also both our personal use, the bills so we know whats going out. He's never hidden anything financial from me and vice versa, theres no need he does however know that i have a savings account for which i put money into for a rainy day.
A good freind of ours however are very different, they dont have any joint accounts and the wife never speaks about her salary, inheritance (because somone close relative died ans left her a substantial amount of monies) and she didnt share it with her husband and they have a child together. I couldnt get my head around that =/