The Master Brewer – Lade Wosornu

*IS IT GOOD FOR LOVERS TO OPEN A JOINT BANK ACCOUNT?*

Author: Counselor FENYI

Joint Bank Account, literally, is where two or more persons come together to open one account with a bank/financial institution where they can keep their money. Many young couples often have the desire to open a joint bank account where they both can save in. There have even been instances where young people who are dating or in a relationship have thought of opening a joint bank account.  

As a professional counselor and mentor, I must admit it is not a very bad idea to open an account with your partner. It basically checks the spending life of each partner. *BUT,* be reminded that, dating/marriage is not a business venture and must not be made to seem so in anyway. If you want a joint account, discuss with your partner about it. Never force it on him/her and don't threaten to break-up with him/her.

How does a joint account impact on one's love life? How does joint account improve one's relationship? Does a joint account guarantee a successful relationship/marriage?

The answer to the questions above is a big *NO.* Account has nothing to do with love. People will always have different priorities and different ventures they would like to invest their monies. Joint account could merely be a ground for petty disputes and quarrels. *I will not advise* any couple to open a joint bank account, especially those merely dating or in a relationship. Anything can happen. It is not an ideal practice.

Most partners keep a joint account when they want to undertake a joint project like building a house or company, buying a car, furthering their education, paying the kids school fees, etc. However, understaking a *joint project* does not necessarily mean you should open a *joint account.*

In case partners want to undertake a joint project, sit yourselves down and discuss thoroughly which ways each can contribute to make the project successful. There could be some form of agreement between you two. For example, if in three years time, you two want to start a building, you can agree that from now, every month, the lady will contribute 200cedis while the man brings 300cedis. In 3 years time, you would have made about 18,000cedis which is a decent financial ground to start the project.

Never complicate life. It can be simpler than you think. Having spent some years in this counselling and life-coaching business, I can say that *joint account breed too many complications.* Your money is your money and exclusively yours. You choose how, when, where and what to spend your money on. Support your partner by bringing part of your money to start a project but never open a joint account with him/her.

If you wish to get counselling or coaching regarding your *education, relationship, career choice, business, religion, etc,* feel free to call or whatsapp Counselor Fenyi on *+233242937O17.*

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