Joint account - enlighten me!

JonSalji

Hi all,

My partner and I are trying to manage our finances a bit better and was wondering if it is a good idea to have a joint account. Not one for our wages and bills, but rather transferring in a few hundred per month into a 'jar' for groceries, entertainment etc.

My only concern is (after reading a few threads on MSE) is the linking of financial history via this joint account. Nothing serious, but my work contract will end in mid-2017 and I am worried that if that doesn't get renewed, this may affect us trying to remortgage the house. Then again, we currently have a mortgage with both our names so our financial histories are probably already linked so no point worrying! Am I right here?

Also will appreciate any input on how to manage 'spending' (after bills and savings) better

xylophone

If you envisage holding up to a couple of thousand each for miscellaneous purposes, why not a TSB Plus each?

You can cycle the necessary £500 in and out once a month very easily and earn 5% interest.

JonSalji

xylophone wrote: »

If you envisage holding up to a couple of thousand each for miscellaneous purposes, why not a TSB Plus each?

You can cycle the necessary £500 in and out once a month very easily and earn 5% interest.

That's the idea. Already have a TSB Plus myself which is at the £2K limit, and the JA will be with TSB as well. So, pay in £250 each per month, then use the money. Hopefully we have money left over at the end of the month and slowly build this up!

YorkshireBoy

JonSalji wrote: »

...we currently have a mortgage with both our names so our financial histories are probably already linked so no point worrying! Am I right here?

Yes you are.