Will joint checking curb my husband's spending habits or make them worse because he will have access to more $

Question

I have been struggling with the issue of joint checking. My husband and I have been married for 1 year and have always kept things separate. I make more money than he, but only by about $10,000, yet because of his spending habits, I end up paying all our joint bills, mortgage, utilities, groceries, etc. I debate whether joint checking would help, because I could track his spending, or it would be worse because then he would have access to more money. What should I do? HELP!

Answer 1

YOu guys should try to go to some financial classes together for budgeting and stuff... that way it is joint decision what to do and how to go forward.  

Right now it sounds liek there is power struggle because of not doing things together.  Each probably has good points but a good plan with help from neutral source would probably help a lot.

Right now until you have classes or counseling or whatever it takes his habits won't change and you are correct there would be access to more money.

Answer 2

Hope you don't have plans to have children because you've got one on your hands now.  Marriage is by far better when both are "in harness" and working toward the same goal.  From your question, is appears that he's a major drag on your pulling forward.  If he's irresponsible, why would you consider giving him access to MORE money rather than less?  Give him an ultimatum to get with the program or hit the road.  That means put him on a budget and turn him out if he can't follow it.  Do that unless you like the responsibility, drama, difficulty, and hear ache.

Answer 3

You may have to put your foot down on his spending.  Do not get a joint checking acct.  Deposit his pyck into your acct.  then write him a check for his weekly expenses.  Have him keep track of his spending with receipts or give him a re-loadable "green dot C.C."  That will keep a record of his transactions.  Sit down with him every time you pay the bills, keep your grocery and other store receipts.  Show him where the money is going, where it needs to go, ie: savings acct.  for future necessities or fun stuff, retirement, etc.  He needs to see how his spending habits effects your family.   I hope this helps.

Answer 4

I think if you open up a joint checking with him, it should be a new account.  (Do not combine your money with his)  If you do this, you can put in a certain amount a month that would be just enough to cover all your monthly expenses.  Then he would see that there is not so much money he can spend.