My husband and I just got married and have been discussing how we manage we bank accounts.
This is the set up we have pre-wedding:
- we each have our personal checking accounts and credit cards from Chase. We earn a similar amount and have our paychecks deposited in our own checkings. For credit cards, I have the freedom and he has the reserve.
- we opened a joint checking acc with Ally a year prior to wedding. We transfer money to Ally from our personal checking accounts every month and pay our mortgage and some shared expenses from it.
Now after the wedding, my husband wants to stop using Ally since he just really hates the app and think the transfer is slow and inconvenient. In addition to that, we got some cash from the wedding and we can’t deposit it to Ally since they don’t have any physical locations.
His suggestion currently: - we keep our personal checking and credit cards from Chase - open a new joint checking account from Chase and apply for a joint credit card from Chase. We would still have our paychecks deposited our our personal checking and transfer some money to the new joint account every month. Basically, replace Ally with Chase and apply for joint credit cards for shared expenses.
I agree with keeping our own personal checking acc and cc but not sure about using the exact same bank for our joint acc. For him, he thinks it’s way more convenient to transfer money within the same bank and he also loves the perks from Chase credit cards.
I am not very well-versed in personal finance so any advice on what banks to use or whether this setup is the most optimal would be super helpful!
Thank you!
Submitted August 26, 2023 at 04:40AM by TangeloResponsible98 https://ift.tt/esOzg14
