I think conceptually and practically it makes sense.
Conceptually, to me, it just reinforces that what’s mine is hers, and what’s hers, is mine. We’re in this together.
Practically, it just seems so much easier to have all the money going into, and out of, one account.
I was curious what percentage of married couples have a joint account, and I found a 2014 survey by TD Bankthat reported 65 percent of couples had joint bank accounts. However, 42 percent of those couples also had separate bank accounts. A Bank of America report in 2018 found that 28 percent of millennials in a relationship keep their banking completely separate.
A separate research study suggests there’s a compelling reason to consider 100 percent joint pooling of bank accounts: happiness. Across five studies they reported in a working paper, University College of London’s Joe Gladstone, Notre Dame’s Emily Garbinsky and UCLA Anderson’s Cassie Mogilner Holmes found that long-term committed couples who pool all their money into joint bank accounts are happier in their relationship and less likely to break up, compared to couples that keep some or all of their money separate.
But do we think is right let’s discuss