The ideal account ?

Cezzy

My partner and I have just moved in together and whilst we have our own independent money and accounts we would like to set up a joint account just for use when we go out together. We were thinking of opening up an account, paying money in every month from our separate personal accounts for use at restaurants, pictures etc. Most of the decent accounts with perks require you to pay DD's etc which we won't be doing as it will be a mere cash pool. Any suggestions from you wise ones ?

colsten

All current accounts can be held jointly. It really depends what you consider "ideal". However, before you go ahead, you should google "joint accounts" and make sure you are both happy with the obligations and financial connections that come with it.

Justice13075

Good sensible advice

alanq

Could you not just take turns to pay?

colsten

alanq wrote: »

Could you not just take turns to pay?

That might lead to arguments - "I paid a lot more than you did" "No you didn't" etc - unless they keep records of what was spent by whom.

A pre-paid card might be an alternative as it doesn't create any financial relationship, and there is no risk of going overdrawn and one partner being left carrying the can

EachPenny

colsten wrote: »

That might lead to arguments - "I paid a lot more than you did" "No you didn't" etc

If the only way of preventing that when it comes to 'going out' money is to have a joint account then perhaps it would also be time to reconsider the whole living together idea? Just saying, from experience