Some couples may be happier in their marriages if they maintain a level of independence – including separate bank accounts. It is practical to have a house account for household expenses and a personal account for personal expenses. Otherwise, conflicts may arise when there is personal need for an expense. A certain level of personal freedom and independence is a way to save and spend for personal needs. This is especially important since most couples include both a spender and a saver. Anxiety is reduced if each person has their own funds. Most debates regarding money should primarily involve the joint house account. Less so, of the individual accounts, unless someone has to dip into the household account for an expense. This is where conflict may arise. Communicate in advance about the needs of the household, and the individuals to determine what is the best approach to financial freedom, common financial goals, and financial independence.
Rev. Dr. Donna Taylor is the Pastor of Andrew Chapel, United Methodist Church on the Northern Neck in Montross, VA. Rev. Dr. Taylor promotes best practices for financial literacy and financial empowerment in the church and leads workshops throughout Northern Virginia. Currently, she serves as the Chair of the District Finance Committee. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, VA. Rev. Dr. Donna Taylor is married to Dr. David Taylor, who is also the Director of our church-based free clinic. They have two adult children and three grandchildren. In her leisure time, Rev. Dr. Taylor enjoys traveling, jogging, weightlifting, swimming, yoga, and interior decorating. In May 2015, Rev. Dr. Taylor received her Doctor of Ministry from Virginia University of Lynchburg in Lynchburg, Virginia. Rev. Dr. Taylor was born and raised in New York City and recently discovered her ancestral roots in Guinea-Bissau, West Africa. Rev. Dr. Donna Taylor is married to David Taylor and they have a son and a daughter. Their daughter is a educator and son is an Active-Duty Senior Seaman in the Navy married with three children. In her leisure time, she enjoys traveling, reading, swimming, writing poetry, crocheting and spending time with her family.