If I did not feel engaged by this point, I sure as hell will after I open up a joint checking account with my fiancee this week. You may get the impression that I am viewing this step as a bad thing, but I am not. It will just be a new financial engine that she and I will use together to build up a savings for our future. I heard some opinions to keep the finances separated until one month prior to the wedding. We are fourteen months away, so some may think that it is absurd to do so.
The main reason we are opening a joint account is because we have an engagement party coming up this summer and we know many people may write us personal checks in both our names. We have decided that any checks we get at the engagement party will go directly into this account and we will not touch this account at all before the wedding. Again, its definitely a good thing, I will continue with my own checking account as well.
It is more of a mental thing with me. Now the whole idea of “We” is sitting in even more. My description of the situation may portray me as being intimidated and there is a small ounce of me that will not deny it. Part of the reason could be that I am coming on board with a good amount of debt and she doesn’t have a single debt on her balance sheet. I won’t lie, I feel a little pressure. But the wedding is fourteen months away, which gives me fourteen months to right my ship so I can go into the next step of my life without any unattractive debts. I would never want her to consider me unattractive!
So it is all good. I will combine my piggy bank (Or shoebox) with her pocket book for now. What I am more curious about is the people that have joint accounts and how they handle it with each other? Or do you guys keep your monies totally separate? A coworker mentioned this to me that he and his second wife practice such a principle. The psychology of finances between couples is a fascinating thing that I will continue to share with you all, hopefully, I handle it better than I have managed my own personal finances. As long as it is being saved somewhere right?
Be nice to your spouse.
One Comment
This year was the first year BF and I filed taxes together. We've been living together for a few years but it was the first time we took the step to file together. Still, all of our finances are completely separate. We both pay certain bills and leave it at that for now.