Should Spouses Have a Joint Bank Account? Married Couple Rev Run + Justine Simmons Answer

This video is unavailable because we were unable to load a message from our sponsors.

If you are using ad-blocking software, please disable it and reload the page.

Playing Should Spouses Have a Joint Bank Account? Married Couple Rev Run + Justine Simmons Answer

Should Spouses Have a Joint Bank Account? Married Couple Rev Run + Justine Simmons Answer

Run-DMC's Rev Run and his wife Justine Simmons have been together for 25 years, so it's only fitting that today, they're answering relationship questions from some of our viewers.

One audience member named Jason asked the couple for their thoughts on spouses having joint versus separate bank accounts. Jason says that he wants to open a joint bank account with his wife, who is a little hesitant.

"Well we do everything together," Rev says.

"We do, but it's a different era we're living in," Justine says. "So, why can't you guys do a joint [bank account] but then you both have your little separate [personal accounts]?"

(For the record, certified financial planner Alexa von Tobel has given very similar advice on our show.)

This compromise works for many couples, and even Rev and Justine say they do this. "Let her have something separate for herself, like [Justine] does," Rev agrees. "She buys what she wants, she has her own things — and then we have the money together where we pay the big bills. But I don't think it should be a place where she has to come to you and say, 'I want a pair of shoes.'"

"I'm not all in her business about the small things, but we both talk about [big payments together], whether it's a car loan or the mortgage." Rev says about his marriage. "I don't think you should take away her independence, and maybe that's her fear," he advises Jason.

RELATED: How to Budget as a Couple Without Fighting

Wait, There's More ...

This Week on the Show

You Might Like