Separate Savings Accounts for Spouses

Financial issues can cause spousal disagreements. There are some steps you and your significant other can take to make finances the least of your concern when it comes to maintaining a happy household. A good resolution to keep household harmony are for each spouse to maintain his or her own private and separate savings account.


When merging your lives together as one it is imperative to maintain your own separate identity. A joint checking account with contributions coming in from both partners will add a certain degree of convenience to bill paying, shopping for household items and planning for joint expenses. But a separate savings account is an additional tool essential for keeping household piece.

Before you became a couple you were both unique individuals. You both were fiercely independent and did not have to qualify your shopping habits to anyone. If you rely solely on a joint savings account, you will be sacrificing some of your basic freedoms and may come to resent your spouse when they question your expenditures.

Separate savings accounts can especially help spouses who have completely different attitudes about money and spending. If you are a shopaholic and your spouse is a frugal person, separate savings accounts can be a lifesaver. With separate savings accounts you can each put a small amount of money aside for your own desires. Even twenty-five dollars a paycheck per person can add up to a sizeable chunk of change for each of you. You can spend the money as your like and so can your spouse, no questions asked!

More Americans are getting married later in life. By the time they get hitched they are creatures of habit. Instead of trying to change each other’s money behavior, separate spouse checking accounts can allow you to still maintain the behaviors and identities you both originally fell in love with.