Joint Checking Accounts

[nicname]

Wondering about the effect of joint accounts on CC churning.

[IPA4Me]

Bonus paid today into the joint account. Transferred that right to the secret fun account.

[420seriouscat69]

Been winning some poker $ lately from my fun account and putting the winnings into the joint to pay off some credit cards. She's not that against my fun account now.

[Mrs. Gooch]

DEAR AMY: I am on my second marriage. I am trying hard to stay “connected” because I felt disconnected in my last marriage. I moved almost 100 miles away from my family and into his world. This is fine, but sometimes I feel alone.

My husband and I decided to keep our finances separate. We split everything. When we’re at the store, he pays half and I pay half, vacation trips are split — also phones, utilities, and insurance. I also give him “rent” for living in the house, because he makes the house payment.

About a year after we got married, he inherited his father’s estate. He put some money into a savings account, and it was just sitting there, so I told him to invest it, and he did.

This money has grown some pretty good interest in the last four years, and we decided to do some repairs on our home, so he took the funds out of the interest income and used it for the repair.
Amy, he then asked me when I was going to pay him back my half of the cost of the remodel! I was floored! This was money he wouldn’t have had if I didn’t suggest that he invest it.

Is it wrong for me to feel like we are more roommates than a married couple? I don’t think we’re very “connected,” do you?
We’ve talked about consolidating our bank accounts, but I get scared that he’ll be controlling my money that I work hard for, like he controls everything else.

Are my feelings wrong?
Worried

DEAR WORRIED: If your husband “controls everything” in your life, then pay attention to this red flag; it might be wisest not to be with him.
You two also seem to suffer from an overall simple lack of generosity toward one another.

One way to feel “connected” is to work together as a couple to make major financial decisions. I like the idea of couples pooling some of their income into a household account and for both parties to agree on mutual expenses and bill paying. Then each party can also have their own money for their personal use.
However, your husband’s inheritance is his alone to spend. Your suggestion that he invest it seems to have been a wise one, but he needn’t compensate you for following your good advice.

Unless your name is on the title, he also owns the house, although you may have some ownership claim because you have been helping to pay the mortgage.
If he expects you to pay for half of this remodel, then your name should be put on the title of the house. Co-owning this home would help you to feel (and be) more connected.

You two should meet with a mediator and financial adviser to work on ways to share your assets, without either party controlling the other. Also, do some research on your marital property rights in your state.

[420seriouscat69]

That's interesting.

[Brock Landers]

Moved almost 100 miles away, wow sometimes life takes you on a journey.

Also, that's not a marriage that's a business partnership.

[Skipper44]

That dudes got him a roommate with benefits - defeated?

[Brock Landers]

"I love you honey."

"I love you too.  Don't forget, rent is due tomorrow."

[Cartierfor3]

Wait, do some married people not have both names on the house?

[star seed 7]

100 miles, got damn

[Mrs. Gooch]

Wait, do some married people not have both names on the house?

Well if he owned the house before they got married why should he give her any of his hard earned equity?

[Cartierfor3]

Wait, do some married people not have both names on the house?

Well if he owned the house before they got married why should he give her any of his hard earned equity?

good pointing. sharing with your wife is for losers

[star seed 7]

Maybe she should #earnit

[Rage Against the McKee]

Wait, do some married people not have both names on the house?

I think maybe if your spouse has really bad credit but you have good credit, you might be able to get a more favorable loan by leaving your spouse off the title. Not sure about that, though.

[Mrs. Gooch]

Wait, do some married people not have both names on the house?

I think maybe if your spouse has really bad credit but you have good credit, you might be able to get a more favorable loan by leaving your spouse off the title. Not sure about that, though.

Yes, this is true.

[meow meow]

Wait, do some married people not have both names on the house?

I think maybe if your spouse has really bad credit but you have good credit, you might be able to get a more favorable loan by leaving your spouse off the title. Not sure about that, though.

why would you marry someone with bad credit?

[Mrs. Gooch]

Wait, do some married people not have both names on the house?

I think maybe if your spouse has really bad credit but you have good credit, you might be able to get a more favorable loan by leaving your spouse off the title. Not sure about that, though.

why would you marry someone with bad credit?

Maybe if you didn't check their credit before marrying them?

[Rage Against the McKee]

Wait, do some married people not have both names on the house?

I think maybe if your spouse has really bad credit but you have good credit, you might be able to get a more favorable loan by leaving your spouse off the title. Not sure about that, though.

why would you marry someone with bad credit?

People do crazy things, meow meow.

[meow meow]

Wait, do some married people not have both names on the house?

I think maybe if your spouse has really bad credit but you have good credit, you might be able to get a more favorable loan by leaving your spouse off the title. Not sure about that, though.

why would you marry someone with bad credit?

Maybe if you didn't check their credit before marrying them?

[MakeItRain]

Wait, do some married people not have both names on the house?

Well if he owned the house before they got married why should he give her any of his hard earned equity?

good pointing. sharing with your wife is for losers

 
In this case I don't know why the wife's name needs to be on the deed. Isn't it important that they just have a place to live? There is no credible reason why the wife in this case needs to have her name on the house. Going halfsies is also obviously problematic.

[Emo EMAW]

Exactly.  There is no upside.  There are some small downsides.

[chum1]

Why should she come out of this business relationship with no equity? Maybe some of her rent should count toward ownership of the house. To me, this sounds no less absurd than the idea that she'd be paying rent in the first place.

[Emo EMAW]

It's depends how much rent she is paying.  If he dies she still gets the house (I assume).

[Kat Kid]

It's depends how much rent she is paying.  If he dies she still gets the house (I assume).

We don't know this. But we have a good idea that she will be at a big disadvantage on recouping any equity if they divorce.Adding her name to the house recognizes her financial contributions to this. If they want to be weirdos about it, they could create a trust and assign her less than 50% ownership.

[Rage Against the McKee]

I think if he would have bought the house after the marriage, then she would get half of it in the divorce, even with her name off of the title. Since he owned it before the marriage and her name is not on the title, she probably gets nothing.