Should a married couple share a checking account?

Asked in Society by Donna
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Married couples sharing a bank account goes back to the days when married women rarely had jobs outside the home. Today it's unnecessary (and impractical) for couples to give up control of their individual finances. A joint checking account can cause problems if a spouse withdraws money without the other’s knowledge. Keeping each other's money separate gives each the freedom to spend as they choose without needing to report every purchase to their spouse. When joint purchases need to be made, it is easy to combine money from both accounts. Many couples keep separate bank accounts but also establish one joint account but even that's rarely needed.
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