You are newly married. Both you and your spouse need to carry a checkbook and write checks. But, you have only one checking account. How do you avoid overdrafts (writing checks for which the balance in the account is not sufficient)?

(The photo is from Bing Images.)

Step 1: A Simple Solution

The image shows a facsimile checkbook register with normal entries. Usually, one spouse will write most of the checks. This is probably the person in the marriage who pays most or all of the monthly bills. For the sake of illustration, assume it is the wife in this marriage who pays most of the monthly bills. The one who pays most of the bills will carry the "main" checkbook. Note the item outlined with the red box. The wife is subtracting $100 from the register in her checkbook to create an artificial transfer of funds to her husband's checkbook. She is also reducing the balance in her checkbook by this amount. No actual check was written. No changes take place in the account at the bank. This transaction takes place only on paper. But, it gives Carl $100 with which to work in the checkbook he carries.

Step 2: The Other Checkbook

This is how the register in the husband's checkbook would appear. The $100 subtracted from the balance in the wife's (Jan) checkbook appears as a deposit in the husband's (Carl) checkbook. Carl is free to write as many checks as he needs, provided he does not spend more than the $100 credited to him from his wife's checkbook. Should he really need to write a check larger than the balance in his checkbook, he will need to consult his wife to be sure the funds are available from her checkbook. She will also need to make an entry that shows a deduction from the balance in her checkbook to cover the charges in her husband's checkbook. He will make an entry to show funds were added to his checkbook.

Step 3: Balancing the Checkbook

At the end of the month it is time to balance the checkbook account. When doing the worksheet that comes with the monthly statement, gather the registers from both checkbooks. Combine the outstanding checks drawn on the account from both checkbooks and use that figure on the appropriate line. Combine the balances in both checkbooks to arrive at the balance your checkbook(s) show.

Many arguments in marriage are about money. If you use two checkbooks on one account, the procedure I outlined will save you a great deal of disagreement and tension. My wife and I used this and it always worked perfectly for us.

(The photo is from Bing Images.)