EXCLUSIVE.. Joint account in marriage

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Marriage is the legally or formally recognized union of two people as partners in a personal relationship specifically between a man and a woman.
Traditionally, when couples get married they typically merge their money. This serves as a symbolic gesture of showing the union of two people in one unit. Research has shown that mire than 42% of people in marriage with joint account also have separate accounts. Should we now say operating a joint account with a spouse is a good thing or a bad thing?
Joint account has its pros and cons lets take a brief look at them.

PROS OF JOINT ACCOUNT:
• Having access to money whenever its needed as both party has the right to deposit and make withdrawals at will.
• There is little or no way of encountering financial surprise as you both know when money goes in and out of the account.
• To some extent it also builds up the level of trust you both have for each other.

CONS OF JOINT ACCOUNT
• Loss of financial independence especially early in marriage.
• It may cause rift in marriage especially when they don’t tell each other what the money withdrawn is used for.

Back to my question about the good and bad of opening a joint account i went ahead to ask few people what their views are on this matter and to my amazement few people are in support of joint account especially the female folks which makes me think that where is the trust in the marriage? I mean, opening a joint account is not a bad thing there just has to be some laid down rules.
Now how to you make this work, there should be an agreement between you and your spouse on what percentage of your monthly take home should be dropped into your joint account and also the money has to be used for the purpose it was meant for i.e. house upkeep, payment of school fees for the children and every other petty things to be attended to in the house. Then the remaining percentage with you both can be used for your personal matters. This in turn will make your home stronger as you will both feel responsible in the house, you will both trust each other and you will also discover that you will live happily till death do you part.

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