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Working in the family business, I know all about our familys finances.
The family business has a checking account that we use to pay our house bills. Phone, electrical, car, yadda yadda. The Mortage is stuck in their joint personal checking account that they never abuse.
My mother has her own savings account, which she uses to save up for non-essential goodies; saving up for a new car, remodeling the house, buying new furniture.
My father uses the business checking account (which he never abuses) for his goodies; mainly golf and home improvement supplies.
They often get into arguments about who pays what. Not the matter of whos paying, but who is paying the bills on time. They are swamped with literally 4 dozen different bills that come to the house and business. Often, several slip under the crack. Penalities mount and mother becomes frustrated.
Seeing this, when I do get married, I would propose the same. A joint checking account for the essential bills and a individual checking account for disposable income. Much simpler, and saves headaches
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