Are joint bank accounts good or bad for couples?

Mar 21, 2023, 6:00 PM | Updated: Mar 22, 2023, 8:09 am

Zions Bank branch at 7015 South Highland Dr. Cottonwood Heights on Tuesday, March 14, 2023. Zions B...

Zions Bank branch at 7015 South Highland Dr. Cottonwood Heights on Tuesday, March 14, 2023. Zions Bank and other regional banking institutions have suffered stock losses amid the fallout from the closures of Silicon Valley and Signature banks. While Zions and some other institutions that have drawn scrutiny and a wave of social media commentary saw big drops in their stock values early this week, all appeared to be recovering on Tuesday as wider fears about the U.S. banking sector ebbed. (Scott G. Winterton/Deseret News)

(Scott G. Winterton/Deseret News)

SALT LAKE CITY — Are joint bank accounts good or bad for a relationship? Dave & Dujanovic share their personal experiences. Both agree on one option.

According to Bankrate:

  • Among U.S. couples who are married in a civil partnership or live together, 43 percent have only joint bank accounts.
  • 34 percent of couples have a mix of joint and separate bank accounts, while 23 percent have completely separate accounts.
  • Millennial couples are the most likely to have separate accounts of any generation, with 69 percent having at least some finances in separate accounts.

“So first question,” Debbie Dujanovic said, “do you have a joint bank account that you’re allowed access to participate?”

“That’s a great qualifier there. That’s a very important qualifier,” Dave Noriega replied. “Do I have a joint bank account? Yes. Do I have access to that joint bank account is an entirely different thing. I don’t have my own card. I have to ask permission to use it.”

“Quick backstory. Did something happen?” Debbie asked.

“In defense of my wife’s totalitarian use of our joint bank account, the autocrat that is my wife, I may have taken advantage at times over the years of the joint bank account,” Dave responded.

“According to new research, it is better for couples that are together to combine their financial resources. Yes, you’re happier than those who don’t,” Debbie said.

‘Best advice’

She shared Steve Harvey‘s advice that he said he received from his financial adviser, calling it “the best advice I ever got.”

“He’s joking about this?” Dave asked.

“No, I don’t think so,” Debbie replied.

Steve Harvey Says Every Married Couple Should Have 4 Bank Accounts

1) Account for all necessary items.

2) Savings account.

3 and 4) Personal accounts for each party.

Why the four accounts?

“So you can feel like a human being,” Harvey said. “No woman wants to go to her husband to ask for money to get her nails done.”

“And no guy wants to say ‘I need $10 for my pickle-ball fees,'” Dave added.

Dave also said his wife runs the family’s finances and because she is detail-oriented, she is good at it.

Debbie shared this from the article referenced below:

Those [couples] who pooled their resources were significantly happier in their relationship than those who didn’t pool resources at all or only pooled them partially, with those who didn’t combine them at all being the least happy.”

In her marriage, Debbie said she had two individual accounts and one joint account at separate times.

“I would definitely, if I had to vote, I’d vote for the joint account. There’s certain things I would have done differently. Maybe giving him more of an allowance so he didn’t have to beg me for $10 in pickleball fees like you have to do,” she said.

“That’s my take, that would be my advice as well. I totally agree. Ultimately, I think the joint account is a very good thing,” Dave replied.

Related reading: Are Joint Bank Accounts Good for Your Marriage?


Dave & Dujanovic can be heard weekdays from 9 a.m. to noon. on KSL NewsRadio. Users can find the show on the KSL NewsRadio website and app, as well as Apple Podcasts and Google Play.

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Are joint bank accounts good or bad for couples?