In a recent discussion with my (younger) colleagues it transpired that we thought of Joint Accounts in rather different ways and I wonder how it is that you might use these - if you’ve ever done so?
If you share your income and expenses with someone else, how do you arrange your accounts?
- There’s My Money / Your Money / Our Money
- There’s only Our Money
- There’s only My Money (send me a request if you need something)
I have to admit I think of having a Joint Account as an alternative to having Personal accounts, but I can see the benefits of running it as one of several accounts.
Essentially, would you see the need for such an account as a way of combining all income and expenses, or as a way of segmenting them?
Conceptually it is interesting as it means that you might need to ‘Track’ more than one account to know how you are doing, but it also makes it easier to separate personal from shared expenses.
I’d be very interested to know if you’ve had one, and how you use such an account.
If Dozens were to offer these sorts of accounts (don’t get too excited yet, I’m not announcing anything - this is just for interest and discussion), how would you imagine it working best for you?