**meep**
Community Member
In response to mugssy65

‎08-01-2014 03:35 PM - edited ‎08-01-2014 03:37 PM

@mugssy65 wrote:
My friend, when she knew her marriage was over started an account she called her "escape fund". She knew she would need a bond for a rental property and set up house money so to speak.
I can't help thinking that if you need a fund for just in case your already admitting your going to need it.

Agree.

 

 

 I agree with mugs, if you set up a hidden account just in case, it kind of indicates a problem in the relationship, specifically a trust issue.

 

Agree with that as well.

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**meep**
Community Member
In response to cat_mioux

on ‎08-01-2014 03:55 PM

Because of my experience my daughter has an escape fund and ALL her friends do now to. Her partner knows she has an escape fund, she told him, and he thinks it's a great idea.

 

 

 

Then it is not a "secret stash" - which i think the topic is about.   Couples hiding money from each other. 

 

My husband does not have a problem with the fact that I have my own bank account and vice versa.  We just never got around to changing things after we were married and eventually, couldn't be bothered, I guess.  It is still 'our' money but we never felt the need to be accountable to each other in that respect.

 

It is the need for secrecy that I consider to be a problem.

 

 

 

 

azureline**
Community Member
In response to **meep**

on ‎08-01-2014 03:57 PM

We have a joint household account that all household accounts are paid from, rego, insurance, health/life insurance. We can both access it independantly but OH probably wouldn't know how.

We have a joint business account........... same issue but we both have to sign.

I have my own personal account that only I can access..............and he has no idea what I have in it and could care less. I do online banking with it too.

He has his own personal account but never goes to the bank and doesn't carry a card. He is not in favour of online banking.

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purple_haize
Community Member
In response to **meep**

on ‎08-01-2014 04:05 PM

@**meep** wrote:
@mugssy65 wrote:
My friend, when she knew her marriage was over started an account she called her "escape fund". She knew she would need a bond for a rental property and set up house money so to speak.
I can't help thinking that if you need a fund for just in case your already admitting your going to need it.

Agree.

 

 

 I agree with mugs, if you set up a hidden account just in case, it kind of indicates a problem in the relationship, specifically a trust issue.

 

Agree with that as well.

It doesnt indicate a problem with the marriage.................if you have been through a marriage that didnt work out and your OH took all the $$$$$, then you would think it wise to have another account.

 

When my ex left and took all the money from the joint account, I had nothing and I also had 2 small children to look after............I have been burnt once, I dont plan on getting burnt again...........

cat_mioux
Community Member
In response to **meep**

on ‎08-01-2014 06:31 PM

@**meep** wrote:

Because of my experience my daughter has an escape fund and ALL her friends do now to. Her partner knows she has an escape fund, she told him, and he thinks it's a great idea.

 

 

 

Then it is not a "secret stash" - which i think the topic is about.   Couples hiding money from each other. 

 

My husband does not have a problem with the fact that I have my own bank account and vice versa.  We just never got around to changing things after we were married and eventually, couldn't be bothered, I guess.  It is still 'our' money but we never felt the need to be accountable to each other in that respect.

 

It is the need for secrecy that I consider to be a problem.

 

 

 

 

All my daughters friends have kept their escape fund secret and so would I next time. Sure it's about trust issues (doh!) but it doesn't indicate you don't trust the individual themselves. It's like purple said, been burnt and plan to never be in that position again no matter who I was having a relationship with.

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nicnacs_4u
Community Member
In response to imastawka

on ‎08-01-2014 07:42 PM

@imastawka wrote:

My mother taught me over 50 years ago, to always have

your own money and never to have it all in a joint account.

My sister didn't heed that advice and when her husband died

she could not access the joint account, because the bank froze

the account for months.

May I ask why the bank froze their account?.When my OH passed away all  our money was in both names and I had no trouble accessing it straight away.

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mugssy65
Community Member
In response to nicnacs_4u

on ‎08-01-2014 07:45 PM

I thought it was the other way round too, Nic that's why couples have joint accounts, it's single named accounts that become frozen until ownership is proven, isn't it?

nicnacs_4u
Community Member
In response to mugssy65

on ‎08-01-2014 07:47 PM

I think you could be right MugssyHeart

**meep**
Community Member
In response to mugssy65

on ‎08-01-2014 09:01 PM

@mugssy65 wrote:
I thought it was the other way round too, Nic that's why couples have joint accounts, it's single named accounts that become frozen until ownership is proven, isn't it?

That's what I thought as well.

 

 

 

 

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**meep**
Community Member
In response to **meep**

on ‎09-01-2014 12:44 PM

I think everyone should have "emergency funds".  I have been in a situation where I had none and I found it stressful.  Life is just too unpredictable.  I don't think I could be in a relationship with someone who could not understand that, putting me in a position where  had to keep it a secret.

 

 

 

 

 

 

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