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January/February 2001



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Separate checking accounts?

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Checking accounts: Separate but equal?
 

ICouples of any age might benefit from separate checking accountsn storybook marriages, spouses share everything — homes, social lives and family. But when it comes to money, sharing may not always be the best thing.

To share or not to share
Several studies have shown that money causes more family arguments than any other topic, and financial disputes are a major contributor to marital problems. For some couples, keeping at least part of their individual finances separate can be a good way to maintain peace and avoid arguments about money.

But how do you know if keeping savings and checking accounts separate is right for your family? Ask yourself these questions:

Do you and your significant other have vastly different styles of money management?

Is money a source of tension in your home?

Have you or your significant other expressed a desire to have a separate account?

If the answers are yes, separate accounts may be an option to consider.

Find a compromise
Having separate accounts doesn't mean your family doesn't share its money. Many people opt to have several checking accounts — one joint account for shared bills and separate accounts for each individual's personal needs.

There's nothing wrong with having your own money that is used according to your wishes, but separate accounts are not a good reason to avoid discussing money honestly and openly. Experts recommend that couples try to understand each other's money management style and allow for differences.

Check with LaSalle
LaSalle offers a variety of checking options to fit your family's needs. For more information on how to use a LaSalle checking account to ease your family's money woes, visit our web site at www.lasallebank.com or call (800) 772-9977.

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