physically, emotionally, and most of all financially.
Financial stability is a goal I will love to attain and will also be not just my goal but that of my partner as well. We move as a team and what ever she wants, I do and vice versa. One of the way I see that we can build financial stability is savings. Saving on whatever money you earn and not spending it all. It keeps one in check for any financial storms that may come.
In a relationship or family (best way to put it), it would not be ideal for the man to bear the financial burden alone. The woman in his life is there to be his helpmate; they are both the two pilots of the relationship and should contribute to important matters like the financial state of the relationship.
This means doing things together and making sure both sides are in agreement on whatever decision is made.
To fight against the battle of financial storms, unexpected expenses, and attaining financial security, it is important for both parties to work together to build a safe account for matters like this. Hence the need for a joint account for couples.
As a couple, you are connected to your spouse as one. Then I don't think there should be any big deal in having a joint account where both man and wife can save and plan for the future. It is okay to have separate accounts as individuals, but why should there not be a joint account between a man and his wife?
This joint account can be used to plan things regarding the family. It could be used for children's school fees; it could be used for sponsoring health issues that may come up; it could even be used to plan a family investment and most importantly things that can we know can happen at any time.
When couples are able to connect financially inclusively, among many other things, this builds up trust, transparency, and love between both individuals. Money makes the world go round; it is one of the most important needs of man, and if a couple does not find it easy to connect financially and to trust each other when it comes to finances, then I may have to question their love.
There are reasons why couples choose not to have joint accounts, and this is because of a lack of trust between these individuals. When you don't trust your partner, how will you be sure he or she will not make a move on the money without informing you?
Alternative to Joint Account
An alternative to joint account is having a separate account with shared responsibility. Both couples will know that it is their duty to handle this part of the finances when the need arises. It can be shared anyhow they want it; maybe the father is taking care of foodstuffs and school fees, while the woman is in charge of household or kitchen appliances and the children's health.
Although this can also be done between couples who already have a joint account,. A couple with a joint account can also use their separate account to plan all this while growing the money they have in their joint account. Hence, they begin to grow their finances and attain financial stability much more easily.
Safe or Dangerous
Having a joint account with your spouse is neither safe nor dangerous, but it is a necessity not just for your finances but for building the connection you have with your spouse.
If you think your spouse is not someone that you can trust with money, then you can opt in with only shared responsibility, but if your spouse is someone you can trust wholeheartedly, then you can do both: shared responsibility and a joint account. This will contribute to your relationship as a couple.
Posted Using InLeo Alpha