Showing posts with label joint. Show all posts
Showing posts with label joint. Show all posts

Wednesday, February 13, 2013

Should Couples Have Joint Accounts ?



Tunde grimaced as the cashier handed him back the debit card. “I am sorry Sir, but your card has been declined for insufficient funds”. Since he got married to Temi, this had become a problem. Temi was not as responsible with money as he would have liked and could be quite frivolous and impulsive about spending. Whatever money was deposited in the joint account through direct debits from their two salary accounts simply evaporated into thin air. Fortunately, Tunde always kept some cash on him so he was able to pay for the groceries.
Tough economic times can strain not only a couple’s finances, but their relationship as well; where one partner is less “responsible” with money, their spouse may feel some resentment. Financial concerns are one of the most common sources of tension in a relationship. Fortunately, planning and communication can help you avoid financial friction and frustrating conversations.

ST

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