Resolving issues between couples can be a matter of dealing with finances. Therefore, having a joint account can become a problem for those who are new to long-term relationships. Income, debts, plans, projects, purchases of items such as cars, houses or even monthly payments in general tend to be a little difficult to deal with. Even more so if we think about the way we manage our account, which is generally done by one person, not two.
Can having a joint account offer advantages? This will be related to the way you establish your relationship. Working based on the accumulation of assets, when you stop to understand how the household's finances are doing, it leads you to seek to know how a relationship works. It is at this moment that getting married becomes not only a love issue, but also a financial one. A particularity of this matter is that there is no requirement for people to have some degree of kinship when having an account.
In general, marriage presents financial issues with different deadlines. In other words, whoever chooses to have someone to share a roof over, creates projects and plans that have a certain cost in the future. To do this, you need guidance and tips that can help you calm down when defining how you want to plan your life with someone. In this article, we will show the financial aspect of this matter. Continue reading.
How a joint account works: what you need to know
First, let's see what happens when a couple already has a joint account. That is, details such as options, autonomy and personal choices. There is the option of having a joint account supportive. In this mode, both people who have title to the account can make transfers and other types of transactions, without the need for permission from one or the other. Another option, which you see below is the joint account simple.
Alternatively, the simple joint account holders who form a couple have different conditions. Because of this, the two can disallow every action with the account. In other words, it may be that a spouse disagrees and does not allow the person to make a specific move. However, both can have access to details such as statements, transfer information and other useful information.
Whether with a joint or simple account, if there is a couple with a bill to be divided, trust is needed. With it, controlling the joint account becomes less complicated. What should be at issue is how autonomy and choices between them will be defined. That is, what priorities will be at stake, what should be a priority, what purchases should be made later, etc. Dialogue and attention to transparency regarding the control of money are essential items when thinking about the subject.
What can be discussed when planning finances together
Now, with the ordinance, there is no longer a requirement to verify the request date to reactivate the benefit through the Couple Registry. Another detail about the couple is that the other benefits will be renewed in a non-centralized way, with manual processes. The way to check the benefit and see if it has, in fact, been reactivated is very simple. Just open the My Joint Account app and then click on “Check orders”. The app will show a list and you just need to see if your order is there. To find out more, go to “detail”.
Furthermore, if you haven't requested reactivation yet, the way through the app is very practical too. When opening the My Joint Account app, click on “New order”. Then, go to the benefit option (or other assistance, if you do not receive this benefit). Just like renewal, the app shows a list of all the benefits and then you just have to read the text about the option and enter your details and the app will ask for it. At the end, the app shows the option “Reactivate the benefit”: in this part, you have to click on the benefit, check if everything is ok and that’s it. Just click “Next”.
Suspension and cancellation of benefits are distinct from each other, because while the act of suspending can be reversed, the moment a benefit ends, the person receiving it no longer receives assistance. Some benefits to think about in the long term concern retirement; benefits for the couple; childcare assistance; Bolsa Família.
After all, what advantages and challenges arise when having an account for a couple?
If we think about costs, there is a decrease. This proves to be a good benefit, becoming an advantage. Even more so for couples looking to ease their budget. Furthermore, another situation that can illustrate this issue is when living together. If done soon, the cost level could drop significantly. If the goal is to reduce expenses, live as a couple can be a supported choice financial from a joint account.
To talk a little about disadvantages, it is necessary to pay attention to a reduction in the level of privacy. When we get used to buying things alone this can be difficult. Ultimately, it is worth weighing what could be best and defining ideal goals for both.
