‘Play’ accounts are a smart way, I think, of keeping some finances separate for whatever spending habits a spouse has. I agree that having everything separate can be a hassle, especially when figuring out bills and living like roommates. Thanks for the insights!

First, it takes more time every month to figure things out. Second, keeping things separate makes it feel like we are more roommates as opposed to a married couple. We have since combined most of our accounts, but still keep our own play accounts so we can buy things without having to “get approval” from the other person.

For simplicity, I agree that combined accounts is the best way to go. Though, as many experts said in the story, having a separate account for your own purchases is a good idea too.

We bought a house together when we were dating and opened a joint account for house stuff, but kept our own chequing accounts and credit cards. When we got married, we went the joint route. Now that we’re parents and I’m a stay at home mom it’s definitely the easiest solution.