2. Pay Your Own Debts on time

One must understand that getting into debt is almost a choice and not an accident. In case you have slipped yourself into debt than you are surely at a high risk.

Moreover, if you have a debt in a joint checking account and have to pay your debt from the same account, there will be more changes of mismanaging it and you might end with having no money in your account along with your partner. In such cases, having separate checking accounts could recue you.

On the other hand, you might have a spouse who doesn’t have control on his or her expense and shows less responsibility in handling finances, in such cases spate checking account will not only provide you a sense of separation between your spouse but will also make him or her become responsible in sharing the expenses.

3. When Spending Habits Differ

When two people have different spending habits it’s always better to have a separate checking account. You might believe in saving even the smallest amount, but your spouse may believe in spending and enjoying life to the fullest. For instance you might like to invest your money in stocks and shares so that you fetch profit from it, where as your spouse may love to spend all his or her money in shopping for clothes and accessories. So, when these kinds of difference of option are present then separate checking account play an important role as one expense does not affect the other. 

Also Read:

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