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Combining Finances Before Marriage

Ask Savvy: Should We Combine Accounts Before Wedding?

This question comes from Gennarator in the Ask Savvy group.

Dear Savvy,
I just got engaged to my boyfriend of four years. We have lived together for four and a half years (roommates before). We have always been great with sharing expenses. We have never had any problems with sharing the responsibilities of bills, groceries etc. Recently my fiance has been pushing to combine bank accounts — something that I just assumed we would hold off on until marriage. When I expressed this to him he told me that I have "trust issues" about money, something he has never said to me before. The wedding isn't for a year and a half. When do you think it is best to combine accounts? What are the benefits of waiting until after marriage vs. doing it now?


Engaged and confused

Help her out by sharing your take in comments. And, ask anything career or budget-related — well almost anything — by posting your questions in the Ask Savvy group, and readers and I will weigh in to support you.

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gennarator gennarator 5 years
Thanks for all of the advice! For now we both decided to put the combined bank account on hold but will eventually (closer to our wedding) open a joint account for shared expenses and keep our individual accounts. We'll see how that works out for us.
tarabara1229 tarabara1229 5 years
I'd do the same thing as lauren and get a joint account for group purchases and keep my own account for personal spending. There's just something about putting all your money into one account that seems wrong. Why shouldn't you be able to keep some of your own hard-earned money in a separate account to be used at your discretion??
GirlOverboard GirlOverboard 5 years
Maybe I'm alone on this but... I almost feel like pushing hard for a joint bank account speaks more of trust issues than not wanting, or waiting, to combine. I mean, isn't one of the reasons people join accounts is so that both parties can keep tabs on money? Shouldn't both partners be able to trust one another's spending habits with separate accounts? :/
michlny michlny 5 years
What's the difference if you do it now or in a year?
lauren lauren 5 years
I can totally see how combining bank accounts is a big step. So, my husband and I just got a joint together and then kept our other accounts too. For groups expenses it goes into our joint account and then we each have "fun" money in our personal accounts. There are a lot of different ways to organize it, so do what you are comfortable with!
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