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Should Joint Homeowners Have Separate Bank Accounts?

October 14, 2009 by Scott Kinne

When you own a home with a spouse or partner, the issue of what’s mine, what’s yours, and what’s ours can be a divisive one.

Each household has its own money management methodology and, according to financial talk-show host Suze Orman, most leave significant room for improvement.

In this 4-minute piece aired on NBC’s The Today Show, Orman talks about co-managing finances with topics including:

  • How to determine how much money goes into a “personal” spending account versus a “family” spending account
  • The importance of both parties taking an active role in bill-paying
  • How to manage the money when one partner doesn’t earn an income

Being aware of money is the first step towards protecting it.

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Scott Kinne

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Vice President, Senior Loan Officer
NMLS ID #182351
Office: 703.293.6146
Mobile: 571.237.6241
Fax: 571.317.2478
skinne@fhmtg.com

Licensed In Maryland, Virginia, Washington D.C., West Virginia
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