Individual accounts with a joint account for shared expenses

Why?

Having a joint account helps to manage shared expenses and financial goals; while keeping your own individual accounts allows you privacy and independence.

How?

Each partner keeps their own personal accounts but pays an agreed amount into a joint transaction account to be used for everyday shared expenses.

You might also choose to have a joint savings account where you save money for future shared expenses or goals.

If you're disciplined spenders, you may decide to use a credit card* (with an interest free period) for your regular spending and clear this monthly to avoid paying interest and fees. 

Our story ...

When Kerry and Jamie got together, they had very different financial positions. They decided they would contribute fairly to a joint account for their joint expenses but retained their own accounts for everything else. Regular conversation kept them in touch to ensure they supported each other and nurtured their joint goals as well.