OCR Text |
Show Joint Account May Be Answer Many young people today come into marriage from a sheltered family life where they've never had to cope with money problems. Thus, they often run into trouble when suddenly faced with keeping a household finacially afloat. While there's no quick and easy answer to this problem, one device many couples find very helpful is a joint checking account, according to a survey by the nation's bankers. Apparently, once a couple starts to use a joint checking account, they both become aware of just how much money they have to live on and how easily it can go. But more to the point, the joint account seems to put a "built-in" brake on any tendencies ten-dencies toward needless extravagance. In a joint account, both husband and wife know the other will see each stub and cancelled check. Thus, they think twice before spending money on pointless things. And the family budget isn't knocked out of kilter. A joint checking account is also useful in special situations. For example, if the husband is away on a business trip, his wife can draw out household funds without having to wait for his return. Also, if either partner, becomes suddenly ill, the other can take care of immediate' bills without delay. In the event of death a joint account assures the survivor of available funds without court orders and other red tape. This type of account does present certain difficulties, however. how-ever. Lack of privacy, for example, prevents Mother from paying pay-ing for Dad's birthday present by check without his finding out the cost! |