How To Choose a Joint Bank Account

Read More About Finance

Although it might seem difficult to choose a better bank or bank account, it is easier than it seems. Competition between banks forces them nowadays to be clearer about what they offer and what can be the advantages of their accounts. It's mainly about not being lazy: don't stick to your bank forever, keep your new responsibilities in clear focus, have a look around, do a bit of research and you will realise how easy it is to save money.

Research indicates that only 3% of single people would be inclined to close their current accounts and share with their spouses or partners. Well over half (56%) say they would prefer to keep their options open in their next relationship - with money both in a joint account and in a separate account in their own name.

Couples retain their independence

While couples might be committed to one another, many are far from committed when it comes to their finances, with more than one in four couples (28%) opting not to have a joint account and insisting on keeping their money separate.

Nearly one in ten (8%) people in a relationship don't trust their partner enough to share their finances.

Nearly one in five (17%) of couples admit that having joint finances would lead to arguments.

Forty one percent of have never even discussed the subject and chose to remain financially independent of one another.

Women are particularly keen to assert their financial independence

Nearly half (42%) of women in a relationship, say financial independence is important for them - compared to just one in four (24%) men.

Marginally less that half (47%) of women believe that they are better at managing the family finances that their male partners.

Nearly one in four (23%) men think that women really are the ‘better half' and readily admit they are much more financially astute.

Not that many couples are good at keeping track of their cash:

Sixteen percent of couples admit to being unaware of the balance of their bank accounts at any given moment.

Ten percent, while willing to hazard a guess admit that they would likely be as much as £200 inaccurate in their estimations.

The tendency to stick with the same account rather than option for one with more suitable facilities, in some case for up to twenty years has resulted in around forty one percent of couple failing to keep their finances in good order.

It is no surprise to see that many people wish to maintain their financial independence. It would appear that many couple remain uncomfortable discussing their financial issues.

There are benefits of having both independent and joint accounts. As with most financial services, there is a large discrepancy between the best and worst deals available to consumers today and as such it is worth shopping around for the best current account deals available for your particular needs. When it comes to shopping for a better bank account, there is a large level of inertia preventing the general pollution from doing so."

Article Source: http://depositarticles.com/

Read more about Alliance & Leicester current accounts and find out why the Alliance & Leicester Premier current accounts, was voted the best current account by Moneywise magazine.

Please Rate this Article

Not yet Rated

Click the XML Icon Above to Receive Finance Articles Via RSS!

Additional Articles From - Home | Finance

Our other websites
All about SEO
Beauty Tips Forum

	Print This Article
	Post Comment
	Add To Favorites
	Email to Friends
	Ezine Ready

Submit Articles
Member Login
Link Us
Submission Guidelines
Ezine Notifications
Article RSS Feeds
Sitemap

New Stuff
About Us
Developer
Good shopping portal
Link to Us
Contact Us
Privacy Policy
Terms of Service