There are many twins who share everything. It’s what most parents of twins want, but have you ever asked your twins what they wanted? Most parents like their twins to be alike in every way, sharing everything, even a bank account. For one, it’s easier for the parent keep track of one account while their twins are growing, since twins are a handful anyway. But should they have a shared bank account once they are full grown?
That may rest with the twins. As much as you want your twins to be alike, they will have differences, even how they think about money. It depends on the twins. Some twins like being the same throughout their lives, while others want to be different. Sharing a bank account when they don’t want to can lead to all kinds of trouble, even a falling out.
It depends on how the twins feel about their money. They may want to share it or they may want to have separate accounts. When they are little, it’s just easier to take care of one account. When they are in their teens, they should be able to decide if they want to share a bank account.
If you use one account and put twice the amount in it, it will grow twice as fast. It could end up to be quite a nest egg by the time they are grown enough to know what money does. When they become old enough to choose bank accounts, they can split it right down the middle.
Money is sometimes evil when it comes right down to it. There are some that will do anything for money while others it’s just something they need. They might not even be interested in saving, just spending. However, when twins are small, having one bank account makes sense. Keeping track of two accounts on top of taking care of twins is just one more thing to handle. But when they start working and making their own money, they may want separate bank accounts.
There are a couple of twins, almost famous, Nate and Kirk Mueller that share everything. They dress alike, act alike, answer questions for the other twin, share the same profession, and they share a bank account. It works for them. It may work for your twins and then again, it may not.
Each twin set should decide for themselves if they want to share a bank account. It depends on the twins. They really are two separate people even though they look alike and act alike. If the twins want to share a bank account — that should be their decision. When they get older, they may want to share everything including their money. If it works for them…
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