Is a joint bank account really the key to a happy marriage? I’m skeptical | Money


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Few years ago, I experienced a shocking moment when a bank statement arrived at my doorstep displaying an astonishingly large number. According to the contents of the letter, it appeared that I had become incredibly wealthy overnight. I found myself gazing at the statement for an extended period, contemplating on how this could have happened. Did I unconsciously invest in bitcoin a decade ago? Perhaps I sold off those bitcoins at the pinnacle of their value. Was I unintentionally skilled in financial matters?

Surprisingly enough, the answer to all of the above is a resounding no. The bank statement had been sent because, more than ten years ago, I had a joint bank account with an ex-partner who held a prominent position in a corporate job. However, they had neglected to remove my name from the account. (Upon receiving my text regarding the matter, they promptly rectified the situation.)

I must confess that I am unsure as to why I had a shared bank account with my ex, and since then, I have never engaged in such an arrangement with a romantic partner. Not even after getting married: my wife and I share everything, including footwear, but we have consciously chosen to keep our finances separate. My wife expressed some concern when I mentioned writing about this topic, so I feel compelled to clarify that our choice does not stem from a lack of trust in each other. We simply avoid the burdensome paperwork that accompanies a joint bank account, and instead, we rely on convenient money transfers through mobile apps.

Moreover, I would not have dwelled on this matter further if it were not for the recent influx of studies proclaiming that a joint bank account and the absence of individual accounts serve as the key to a blissful marriage. For a brief moment, I even questioned the state of my own relationship. However, I quickly realized that those individuals possibly lack an understanding of modern applications and fail to grasp the genuine recipe for happiness: minimizing paperwork.


Arwa Mahdawi is a columnist for The Guardian.

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