Joint Accounts

Settling the Credit Versus Debit Debate

Ways to combine finances with a partner when you budget very differently

Illustration: Laurie Rollitt

Welcome to Joint Accounts, a weekly advice column about money and relationships of all kinds. Have a question? Email jointaccounts@medium.com.

Dear Joint Accounts,

I recently got engaged, and my fiancé and I plan to combine our finances, so we share a checking account. I currently do all my spending on my debit card, and I get a text every morning with my balance to keep me in check. My fiancé, on the other hand, spends his money with his credit card and pays it off at the end of each month and keeps tabs on his balance throughout the month.

Neither of us is a reckless spender; we just each have a specific way of monitoring ourselves. Given our two different spending styles — debit versus credit — what’s the best way for us to combine finances? Neither of us wants to give up our current system. But I worry that if we don’t spend the same way, I’ll inadvertently overspend and end up putting us in a financial hard spot.

Sincerely,
Team Debit

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