Why I Keep a Separate Bank Account from My Husband

As part of our Women, Work & Money series, Carla Naumburg enlightens us on the joys of a separate bank account.

Soon after my husband and I got married almost 9 years ago, we set up a joint bank account. My husband closed the personal account he had maintained since college. I did not. I kept my own account, under my own name. Nearly a decade later, I still have it.

We each have a checkbook and ATM card for our joint account. I also have a checkbook and debit card for my own account. My husband’s credit card is linked to our shared account; my credit card (which is also under my name alone) is linked to mine. My husband is the primary earner in our family, and his income is deposited into our joint account each month. My inconsistent income from writing, teaching, and advising, goes into my account.

The monthly bills and major expenses get paid out of the joint account, while daily expenses such as trips to the grocery store or medical co-pays come out of mine. To be honest, there’s no rhyme or reason to it. If I’m low on funds, I’ll pay for something out of the joint account, and vice versa. All of our assets are shared; both of our names are on the mortgage and the car titles. My decision to have a separate account is not about division of funds or hiding anything from my husband. (We both have online access to both accounts; my husband can see my bank statement or credit card bill any time he wants.)

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