Making the Right Choice: Exploring Alternatives to Joint Accounts with Your Partner

Making the decision to open a joint account with your partner can be a difficult decision. Thankfully, there are alternatives available, such as giving money to each other to pay for joint expenses.[0] Although this requires more steps, it can help you keep your funds separate and protected.[1] If you choose to open a joint account, research accounts that can be co-owned and check with the bank to see what documents and identification are necessary for both of you to become joint owners of the new account.[1]

Before taking the plunge and opening a joint account, it’s important to ask your future spouse a few key questions.[2] This includes asking about any debt they may have, such as student loans, car loans, or credit cards. It’s also important to ask what their financial goals and dreams are, as well as their financial priorities and retirement goals.

Having an open and honest conversation about finances is essential for couples. This can improve your relationship and help you make smart money moves together.[3] Joint accounts can be beneficial, but it’s important to make sure both partners are comfortable with the arrangement.[4] Another option is to share a credit card, with 62% of married couples surveyed by The Ascent saying they did this.[5]

At the end of the day, the decision of whether to open a joint account with your partner is a deeply personal one. Knowing what questions to ask and what options to explore can help you make the best choice for your relationship.

0. “3 Financial Check-ins for Newly Engaged Couples” msnNOW, 9 Feb. 2023,

1. “Should We Have a Joint Bank Account as an Unmarried Couple?” The Killeen Daily Herald, 11 Feb. 2023,

2. “The 5 Big Questions To Ask Your Partner About Money Before Getting Married” Well+Good, 7 Feb. 2023,

3. “12 Money Talks with Your Partner That Will Improve Your Relationship” Yahoo Finance, 11 Feb. 2023,

4. “Financial Steps to Take Once You're Married in 2023” Benzinga, 10 Feb. 2023,

5. “Just Married: Ask These 5 Questions Before Deciding on a Credit Card With Your Spouse” The Motley Fool, 9 Feb. 2023,