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Keep Credit Accounts Separate from Your Partner

Getting married is a beautiful thing.  There is simply nothing more satisfying than finding someone so wonderful that you are willing to spend the rest of your life with them.  It’s great to share so much of your self with someone else, but the one thing you should share is your credit accounts, especially if you are already struggling with debt. With these, it is much smarter to keep your credit accounts totally separate.

Here are some of the reasons why separate credit accounts will add up to healthier, more satisfying marriage.

Gives You a Backup Credit Account – One of the main advantages of having separate credit accounts is that they give you a credit score to fall back on.  If your partner suddenly falls into a financial dire straights and their credit score takes a dive, you will still have your healthy in case you need to look for an apartment or apply for a job that does credit checks.    If you join your accounts, if one person falls into serious trouble, then you both do. This can allow you to lean on a single person’s credit, if necessary, while the other person works to improve their own score.

Puts Strains on a Relationship -  Go ahead and ask old married companies what they fought over more than anything else throughout the course of their relationship. This answer will probably come up the same over and over again: money.  Money can be a serious flash point in a relationships, as disagreements arise as how it should be spent, saved, and invested.   While disputes over money are almost inevitable, there is one way that you can minimize the strain finances have your relationship: have separate accounts.  When you have separate accounts, then you only have access to your money and credit, and your partner does the same.  When another person’s actions affects your credit, it can put a great deal of pressure on you if you don’t agree with your partner’s financial decision.

Can Hurt you In Separation - Obviously, no one in a stable relationship likes to plan for a possible split up. But even so, it is important to realize that should the worst happen and you even decide to separate from your partner, having joint accounts will make things much more difficult for you.  Your ex will be able to charge things to your account and harm your credit, even after you are long separated.  It will be much more difficult to close these accounts as well.  

Less Paperwork – Plus, it just take a lot of extra time and effort to join all of your accounts once you get married. Time and effort that, as you can see from the above reasons, will be totally needlessly spent.   It’s still very possible to enjoy a life together while keeping all of your important credit accounts to yourselves.  It will make your relationship, and in turn your life, a whole lot easier.