A shared account is an account where two people share an account. For couples, this may be a good idea at first, but here are some things to keep in mind before opening an account.
A joint account for planned acquisitions
Very good is a common account in my personal opinion for planned or constantly constant expenditure. This can be rent, grocery shopping, energy costs, holidays or similar. Each partner pays a percentage of their money each month, and this money will then be used to finance the spending.
All issues should be discussed
In the case of a joint account, both persons can access the money, which, on the one hand, is very practical and, on the other hand, can lead to disagreements and unwanted annoyance. This always happens when both persons do not agree and determine the purpose for which the money should be used. If the partner has made an issue without notifying the other partner and the available balance has been used up, in turn the other partner needs more money, then there is a problem here. The constant overview of the finances is therefore inevitable, which is even more important if both persons use a cash card when paying .
An individual account has many advantages
It is perfectly true that as a couple you share the monthly costs or each contributes its part in any way. However, this does not necessarily require a common account. A single account also creates a degree of independence, which is certainly very important for couples today. Although it is very good when the partner knows the financial situation of the other, but there is no permanent control, which is inevitable in a common account, however, usually. Furthermore, one should not forget the tax office and taxes, at the latest in the calculation of income tax creates a single account a better overview.
No joint account with a self-employment
Basically, a joint account for self-employment is not recommended. Here a business account and a private account makes more sense. Just because of the bookkeeping and the clarity you should necessarily have multiple accounts. Otherwise, there will be a big mess, at the latest when the partner brings in another income and this would be booked with there. Although there is the possibility to open a subaccount, a new individual account is recommended for the company, this may cause additional charges, but they are also limited.
What else needs to be considered?
There are other important things to keep in mind when sharing a account. At girokonto.org I came across a very interesting overview that best describes these points.
Conclusion: Having a common account has both advantages and disadvantages. You have to estimate for yourself which option suits you best. There are reasons that argue for a community account and again reasons that speak against it.