A Survey of Women's Perspectives on Joint Bank Accounts

By Jeff Smith

Many people take it for granted that when a couple gets married, they'll share their finances in a joint bank account.

But 2,000 women we surveyed revealed 64% of all respondents wished they had their own money set aside just in case. The survey of 2,000 American women who are married or living with a partner was conducted on our behalf by OnePoll.

While three in five respondents have a joint bank account with their significant other, 64% of those women revealed they felt pressured into the decision.

Two-thirds of women whose partners are the primary breadwinners said they feel trapped, while 69% admitted they wouldn’t be able to maintain their current lifestyle without their significant other.

Seven in ten women wish they had more power of their financial future and were more involved in monetary decisions with their partner.

“While sharing finances can create a real sense of partnership, having your own money in a relationship is important because it gives you a level of control, and options, you might not have otherwise,” said Lauren Bringle Jackson, an Accredited Financial Counselor® at Self. “The best way to take control of your finances is to get involved, get informed and ask questions. It’s your money and your life too, so you should have equal say in what happens to it.”

For more survey results, please see the illustration below or download the Self Joint Bank Account Survey Results 2020 here.

Joint Bank Account Survey Graphic 2020

About the Author

Jeff Smith is the VP of marketing at Self.

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Written on February 4, 2020
Self is a venture-backed startup that helps people build credit and savings. Comments? Questions? Send us a note at hello@self.inc.

Disclaimer: Self is not providing financial advice. The content presented does not reflect the view of the Issuing Banks and is presented for general education and informational purposes only. Please consult with a qualified professional for financial advice.

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