Here’s Why You Shouldn’t Get a Joint Bank Account with Your Partner

Merging finances with someone else is a big decision. Before you make the leap, let’s look at 14 possible reasons why keeping your bank account to yourself could be a smarter choice for your financial health and personal independence.

Keep Your Finances Flexible

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Having your own bank account means you can manage your money the way you want. It’s great for when you want to save for something special or even splurge a bit. You don’t need to check in with anyone else about how you spend or save, which makes financial decisions a lot easier and more personal.

As Inspired Budget says, having separate finances can be useful for both you and your partner, as it allows you to manage your outgoings and expenses effectively without the other person feeling responsible for your spending.

Stress-Free Spending

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According to a survey by Truist Bank and the Harris Poll, 35 percent blame their financial situation for their relationship stress. With your own bank account, you call the shots on your spending. This freedom means you can grab a coffee, buy a new book, or treat yourself without having to explain or justify it to anyone. It’s all about making your own choices with your money, stress-free.

Harmonious Habits

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The Truist Bank and Harris Poll survey also uncovered that most people admit they spend and save money differently from their partner. Different spending habits can lead to squabbles. With separate accounts, you avoid this. You can be a saver while your partner might like to spend more, and that’s perfectly fine.

Your Money, Your Mastery

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Managing your own bank account is a great learning experience. It teaches you how to be smart with your money, helps you get better at saving, and makes you think more about how you spend. Plus, it feels good to be in control of your own finances.

Surprises Stay Surprising

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Trying to keep a gift a secret can be tricky with a joint account, as your partner might spot the purchase. With your own account, you can buy gifts or plan surprises without any risk of them finding out too early. It keeps the excitement and mystery alive in your relationship.

Credit Score in Your Hands

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Sharing an account means your partner’s financial habits could impact your credit score. Having your own account keeps your credit score under your control. You can make sure you’re doing the right things to keep your credit score healthy, without worrying about someone else’s spending habits.

Budgeting Becomes a Breeze

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When it’s just your money, budgeting is simpler. You can see exactly where your money is going, which helps you plan better. You can adjust your spending easily and set aside money for things you really want, without having to coordinate with anyone else’s spending or saving habits.

Financial Independence, Even in Rough Times

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Tough times in a relationship can be harder with shared finances. Having your own bank account gives you a sense of security.

David Bach, bestselling author of “Smart Women Finish Rich” told  CNBC Make It, “It’s absolutely critical, especially for women, that you keep money in an account that’s yours that you control.” You know exactly what money you have and can make decisions for yourself, which is especially important if things get rocky.

Cleaner Breaks, If Needed

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If a relationship ends, it’s easier to handle the money side of things with separate accounts. You won’t have to worry about splitting every penny, which can make a difficult situation a bit less stressful.

Show You’re Financially Trustworthy

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Handling your own finances well shows your partner that you can be trusted with money. It’s a great way to demonstrate responsibility and can strengthen your relationship by showing you’re both capable of managing your own money.

Fair Play in Finances

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When you both have your own accounts, it’s clearer to see who’s contributing what to shared expenses or goals. This can help prevent any misunderstandings about money and makes sure everyone’s contributing their fair share.

Goals within Grasp

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Separate accounts make it easier to save for personal goals, whether that’s a vacation, a new gadget, or a big event. You can focus on what you’re saving for, track your progress, and adjust your plan without having to worry about someone else’s spending.

Different Financial Plans? No Problem

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If you and your partner have different ideas about money, like investing or saving, separate accounts let each of you follow your own strategy. This means no arguments about money strategies and a happier financial life for both of you.

Grow Your Financial Know-How

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Running your own bank account helps you learn a lot about managing money. Every decision you make is a chance to get smarter about finances, from figuring out the best way to save to understanding how to make your money work for you.


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