A few weeks ago B and I co-mingled our funds and opened a joint checking account. While everything I ever learned in my Community Property class should have taught me to never do such a thing, it was the perfect time for us to make this financial decision. Now that I am on the attorney payroll at my office, I have to sign a new contract and also submit my direct deposit.
It took a good hour to sign all of the documents and figure out what would work best for our relationship. We did decide to keep two separate savings accounts. We do not have access to each other's savings which may be legally significant if (heaven forbid) anything were to happen to either of us. It has a lot to do with creditors, etc.
We were both a little nervous as we were sitting there, but as we paused and linked hands on our walk back to the car I could feel that sweet giddy feeling. With every big decision we make together it feels that much closer to the biggest committment of all. We're both starting to wonder how we are going to wait until October 2009!
hehe, I like the title of your post.
ReplyDeleteI think keeping assets separate is important. You can both maintain your credit and keep things separate for legal purposes. But having something joint makes everything so real, so interdependent, so ... committed.
Wow you are definitely ahead of the curve here. I wasn't planning on doing that until we were married...haha. I guess getting it over with now though may be even easier. Congrats!
ReplyDeleteThat is big news! We have one joint wedding fund and probably wont merge teh rest until after the wedding, but it would probably be easier to get it out of the way pre-wedding.
ReplyDeleteWe've had a joint checking account since we moved in together in 2006. That was more for connivence of splitting bills, as we kept separate checking out where our paychecks were deposited. Now that we're engaged and living together without roommates in a new city we just have one checking account.
ReplyDeleteCongrats on the join checking account... woah... i'm nervous just thinking about doing that :)
ReplyDeleteRelentlessBride
It is hard to wait but oh so good when it comes! I'm so excited for you! Kelly
ReplyDeletefiance and i did the same thing when we moved in to our house together. we both put part of our paychecks in to a "bills" account and then we have a "general purpose" account for groceries, gas, etc. and we each have our own savings/retirement/ira/investment stuff then we have a joint savings for the wedding budget! ah!
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