July 16, 2016

Would you keep a joint account with your spouse?

Would you keep a joint account with your spouse?

By Juliet Ebirim

Having a joint bank account with your spouse could be one of the smartest or dumbest things you ever do. That’s because in the right
circumstances, having a joint bank account brings you and your spouse together and helps you both stay on the same page with respect to saving, budgeting, spending and even investing. But in the wrong circumstances, having a joint account leads to financial failure, resentment, accusations, anger and sometimes, divorce. Clearly there is a lot at stake. Which way would you go?Some of our entertainers shared their opinions as follows;

I will because I trust him – Ruth Eze, Actress

Yes, I will keep a joint account with my husband because in the first place, I trusted him and that’s why I got married to him. His money is mine and vice-versa. We belong to each other. If I can trust my future with him, why can’t I trust my money with him too.

No chance in hell am I doing that! – Seyi Hunter, Actress


No chance in hell am I keeping a joint account with my spouse. Men are the most unreliable specimen on the planet. Once he starts keeping other girls, he’ll use my money to cater for them. Some men even have children outside without the knowledge of their wives. When he dies, you’ll now see some mysterious names in his will, coming to split what’s 50% yours with your children.

It will make our relationship stronger- Yetunde Bakare, Actress

Yes, I’ll keep a joint account with him because it will enable us manage our income and expenses effectively. We will be able to carry each other along and it will make our relationship stronger.

It may create problems for us – Seaman Adah, Music Producer

I can’t because women easily get carried away with what they see. Besides, women like to be a little independent with their spending and men tend to be controlling. So, problems will develop when she has to take permission before spending money and the man doesn’t do the same.

It will help us monitor spending – Ijeoma Imoh, Actress

Of course, I can. It will help us monitor each other’s spending especially in this tough economic situation. We both must be signatories to the account, so he can’t withdraw money from it without my approval and vice versa. If the withdrawal is for a good cause, like for the family especially the kids, why not?