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Sun, Mar 21st, 2010, 08:42 PM #1
Hi,
I am a reporter from the Globe and Mail and I'm writing because we're doing a story about young couples and joint bank accounts and I am looking to speak to someone who may be interested in talking about their personal experience with (or without) joint accounts.
A new poll has shown that a lot of young couples are steering clear of joint accounts, so we want to speak to people about what they do and how they make it work. It's not necessary to give last names.
If you're interested, please send me a note before Monday at 4 p.m. EST to [email protected]
Thanks in advance!This thread is currently associated with: N/A
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Sun, Mar 21st, 2010, 09:15 PM #2
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Would you be able to clarify "young couples"?
Are you looking for young couples to interview or just anyone who has joint accounts?At the right time, a kind word from a stranger, or encouragement from a friend, can make all the difference in the world. Kindness is free, but it's priceless. ~ Doe Zantamata
"And it's always the right time!" ~ Woofy
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Sun, Mar 21st, 2010, 09:20 PM #3
Good question. In this case "young" is in the area of 18-35ish. We're looking for couples because the story is based on a poll about young couples. If this applies please let me know!
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Sun, Mar 21st, 2010, 09:45 PM #4
couples as in dating or couples as in married?
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Mon, Mar 22nd, 2010, 10:53 AM #5
Either or would work.
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Mon, Mar 22nd, 2010, 11:34 AM #6
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Hm, this would actually be a good idea for a thread on here, too - any takers? Be interesting to hear the debate between you young'uns and us oldies...
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Mon, Mar 22nd, 2010, 11:37 AM #7
We have our own accounts- I guess we are considered young'uns
I am 27 hes 29. We have been married 4 years
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Mon, Mar 22nd, 2010, 11:49 AM #8
Email him meg!
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Mon, Mar 22nd, 2010, 11:54 AM #9
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Me and my hubby also have separate accounts.. and we are young 23 and 21.
Niagara Falls for New years!!! YIPPY!!!!!
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Mon, Mar 22nd, 2010, 01:06 PM #10
We have joint accounts - but don't come under your definition of young ROTFLMAO!
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Wed, Mar 24th, 2010, 11:46 AM #11
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Not sure if I fall under young 'uns or oldies, Natalka!
But all my accounts are joint for the following reasons:
1. I know my hubby can be trusted, and vice versa. I know there's always a risk that he or I might "turn bad" one day... but that's just part of life. We can't live our lives fearing for something that might or might not happen. If it happens, we'll deal with it.
2. I have all our accounts joint, for estate planning purposes. I do not wish for any of our assets to go into probate, and through lengthy court processes. If either of us were to go tomorrow, we know our assets will go to each other. Neither of us needs to deal with courts and probate when we are dealing with a huge personal loss already.
3. And just simply, our financial affairs are not that complicated yet... And I have no wish to make it complicated.
4. And having joint accounts is a great way to learn to manage family finances, and have good financial discussions. It makes us accountable to each other for all our financial decisions and transactions, and where there is some conflict, we work through it. So, it has brought hubby and I closer in our relationship.
I guess I could be just lucky, and having joint accounts and finances absolutely work for me.
As I look back and reflect, I know I would do the same things I have done all over again.
Then again, I am still only in my mid 30s... anything can change...At the right time, a kind word from a stranger, or encouragement from a friend, can make all the difference in the world. Kindness is free, but it's priceless. ~ Doe Zantamata
"And it's always the right time!" ~ Woofy
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Wed, Mar 24th, 2010, 12:01 PM #12
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Woofy, we have always had joint everything - and we've been married almost 21 years.
For the reasons you mention, number four is the strongest one, I think.
Some couples believe, well then they won't have their freedom with their 'own' money to do as they want, or how do they buy gifts, etc. - well, you just work those things out. Communication, understanding, and compromise... gee, that's what a marriage is!
First of all, we believed that once we were married, it was OUR money, period. Things have fluctuated financially over the years - at the beginning I was the higher income earner, then a few years later along comes baby and I was a SAHM, with just minor income for a few years as I did some part-time work. However, everything was treated the same financially.
As for gifts, etc. - a couple will have some understanding of what type of expenditure required consultation and which doesn't. That comes with each spouse knowing what's in the account and how much leeway there is in spending. There were times for us when things were so tight that either of us spending $20 the other didn't know about would seriously wreak havoc with our account! However, if things are going better, then we would take cash out for example for gift buying, if we didn't want the other to know exactly what we were spending.
Honestly, you share everything - body, soul, and spirit - with a spouse, so I just think having joint finances makes sense.
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Wed, Mar 24th, 2010, 12:05 PM #13
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Wed, Mar 24th, 2010, 01:22 PM #14
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For all Joint accounts - I would recommend JTWROS
Joint with Right of Survivorship (Its a nightmare if the worst happens to anyone of the joint owner). Most institutions offer them (you have to ask for it, just to make sure).
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Wed, Mar 24th, 2010, 02:28 PM #15
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I so agree with both of you, Woofy and Natalka! I actually responded to the reporter and sent some additional comments. We're 29, so we fit into their category nicely A lot of the things I mentioned in my comments to her were almost word-for-word the same as your comments here We will always share our finances (and have since day one of our marriage almost five years ago!), and would never think of approaching it in another manner!!
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