Together by Marriage, Separated by Bank Accounts

By Michael Reilly on February 21, 2018

I recently came across an article on Yahoo Finance titled “Why Married Couples Should Have Separate Bank Accounts.” Now, whether you agree with this suggestion or not, there’s no doubt the title of this article is certainly one that I’d imagine would grab the attention of anyone either currently married or planning to be in the future.

Seems like an odd suggestion, right? Typically, it seems a bit more practical that while married, you and your spouse share finances and whatnot. A team effort.

However, the article mentions results from a 2013 Kansas State University survey of over 4,500 couples that concluded that arguments over finances were far and away the number one predictor of divorce.


My first thought when reading was confusion. I didn’t find the simple fact that couples argue over finances to be peculiar; that made sense. What was puzzling for me was the idea of getting divorced over it. I mean, you gotta think, doesn’t going through a divorce require hiring lawyers, someone moving into a new house and what not? Seems like if anything it would just make the financial situation of both parties even more stressful.

On top of that, what if you have children as well? I fumble over the thought of a financial argument being worth separating and having to put your kids through that nonsense as well. Also a little side note to that, both parties will likely end up spending more on gas driving their kids to and from their ex-spouses’ house.

Continuing along, it’s then mentioned that according to a report from, approximately 7.2 million Americans have a hidden bank account that their spouse or partner doesn’t know about.

Now I don’t exactly know much about the in and outs of marriage, but I’m gonna go ahead and guess that keeping a secret like this from your spouse probably won’t go over too well.

Why do a considerable amount of people tiptoe their way around having a secret bank account? The article describes that having joint finances and whatnot causes financial dependence. What this entails is never feeling financially free no matter how much income you may be earning. It’s a lot like back in the day when you were too young to have a job and had to ask your parents for money; you weren’t financially independent.

So what’d be some helpful solutions to feeling this aforementioned financial independence while not letting it potentially end your marriage?

Perhaps the first step should be discussing this topic with your spouse. Obviously, as was touched upon already, going behind your partner’s back is in absolutely no way a good idea. In fact, it’s quite literally the opposite.

A good system would be to budget your money. A pretty easy and simple way to do this would be to split things up into three accounts; your personal account, your spouse’s personal account, and a combined account for family-related expenses such as bills or saving for your children’s education.

Seems like things should run pretty smoothly. You talk and discuss it, come to an agreement, split your earnings up accordingly and “the rest is history”…or something like that. The best part is the idea that you have financial freedom without hiding from your spouse or anyone else!

For more information on the concept of married couples having separate bank accounts, check out this article on one of my personal favorite finance blogs, moneycrashers.

By Michael Reilly

Uloop Writer

Follow Uloop

Apply to Write for Uloop News

Join the Uloop News Team

Discuss This Article

More Uloop Business Articles


20 Photos
24 Jones
6 Photos
Ideal Greenwich Village location! Lofty Pre-war Bldg. Check Back Soon for Avail Apts at The Villager. NO FEE
6 Photos
NO FEE at CD280 - Prime East Village Location! Check Back Soon for Avail Apts. Pet Friendly Bldg w/Complmentary Fitness Center & Private Garden w/Running Track.
6 Photos
CHELSEA PLACE - Awesome 1 Bedroom Apt Located Near Herald Square, Times Square and The Highline! NO FEE!
5 Photos
MURRAY HILL MANOR - Top Luxury Murray Super Spacious 2 Bedroom. 24 Hr Doorman bldg w/Roof Deck, Attended Garage. Pet Friendly. No Fee. OPEN HOUSE  Sat & Sun 11-5
See all BARUCH Housing Listings


Receive recent Baruch news and classifieds on your Facebook Feed. Click the button below and then click "Like"


Back to Top

Log In

or Sign Up
Post FREE Listings
Student Start Here
Post Jobs for Students
Employers Start Here
Housing Providers
Post Available Housing
Housing Start Here

Enter College Name to See Local Results

Log In

Contact Us

Your new password has been sent to your email!

Logout Successful!

You just missed it! This listing has been filled.

Post your own housing listing on Uloop and have students reach out to you!

Upload An Image

Please select an image to upload
Note: must be in .png, .gif or .jpg format
Provide URL where image can be downloaded
Note: must be in .png, .gif or .jpg format

By clicking this button,
you agree to the terms of use

By clicking "Create Alert" I agree to the Uloop Terms of Use.

Image not available.
By clicking Get Started or Sign In you agree to our Privacy Policy and Terms of Service

Add a Photo

Please select a photo to upload
Note: must be in .png, .gif or .jpg format