In my opinion, every couple should have a total of four accounts (two shared accounts and one individual account each).
1. Joint Checking Account: this is for everyday expenditures that you both, as a couple, control.
2. Joint Savings Account: this is for the rainy day expenses
3. Individual Account for Partner A
4. Individual Account for Partner B
A note on Individual Accounts: Individual accounts are important so you maintain financial freedom in your relationship. Just like you don’t have to detail what your emails are about, you should have an individual account that you control. It’s your own money and with this account, you don’t have to ask for permission from your partner before you use it; although you can certainly ask for advice on a purchase you plan to make.
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