Money Meets Medicine Podcast

MMM #7: Pros and Cons of Joint Bank Accounts

Do you have a joint bank account with your partner or spouse?  Is that a good idea? In this episode, we outline the pros and cons of having a joint bank account.  We don’t hold back on our views, and we don’t expect you to either.  Hit us up in the comments below after listening to the show.

What You’ll Learn from the Pros and Cons of Joint Bank Accounts?

Set for Life InsuranceCombined, or joint, bank accounts come with benefits and consequences.  Here is what you can expect to learn:

  • How you can separate your bank accounts for spending within a joint account.
  • The benefits of merging your bank accounts.
  • Potential consequences of joint bank accounts.
  • Would you help your spouse if they had a financail setback?

Resources from the Joint Bank Account Episode:

Check out the resources mentioned in this episode:

This Episode’s Sponsor

This episode’s sponsor is Jamie Fleischner from Set for Life Insruance, which is one of the nation’s top independent brokerages specializing in life and disability insurance for physicians and professionals. Since 1993 they have worked with thousands of clients finding the most suitable products at the greatest discounted price.

Jamie has been a long time sponsor at The Physician Philosopher, and I’ve never heard a single bad review from my readers.  So, if you need a term-life insurance or disability policy, you can reach out to Jamie by calling Set for Life at 888-553-3559 or emailing her team at [email protected]

Listener Question of the Week:

Today’s question comes from Dr. Graham,

“I have a fair amount of revolving debt and with my tax refund this year (which will be very large because we adopted kids) we should be able to pay all of it off. If I was diligent, I could probably still have it all paid off in 3.5 years and invest the tax refund. Is it better to pay off the debts ASAP or put the sizable amount of money in an investment?”

Each episode, we are going to start including listener questions as they are provided to us.  So, if you have a specific question you’d like answered on the podcast reach out to us!  Email [email protected] or [email protected]



  1. Stephen

    Great episode. Joint account supporter here! Comparatively lighter topic: how do you keep surprise purchases (birthdays, anniversaries, etc.) a surprise? Obviously cash is an option, but any other strategies?

    • ThePhysicianPhilosopher

      Well, one way is to go buy groceries and take cash out there with a debit card. Just looks like you spent a little extra on groceries each time, and your spouse is unlikely to notice ?


Submit a Comment

Your email address will not be published.

You might also be interested in…

5 Things About Retirement Accounts Every Doctor Should Know

5 Things About Retirement Accounts Every Doctor Should Know

Retirement funds are one of the biggest points of financial confusion for doctors. We want to provide some clarity and understanding so you can learn what you need to know to start making your money grow.

We’re going over five things about retirement accounts every doctor should know.

MMM 90: Hard Decisions on Money Meets Medicine

MMM 90: Hard Decisions on Money Meets Medicine

Have you ever felt like things are getting really heavy? And that you need to make a change? That is what we are going to do today on the show today. We are going to pull back the curtain and talk about things that have been going on in our lives. Often people don’t think about the lives of the people behind the YouTube videos or podcasts like this one, Money Meets Medicine. So today we are going to dive in and talk about hard decisions on this podcast Money Meets Medicine. Join us as we explore why resting in your personal and financial lives is essential for healthy success.

MMM 89: Personal Finance Masochism & Physician Self-Compassion

MMM 89: Personal Finance Masochism & Physician Self-Compassion

Is there a purchase you’ve been thinking about, but are afraid you should be spending your money in “better ways?” Listen along today as we talk about that Porsche 981 Cayman S, house, or expensive vacation you want, and how to get it. Learn how you can save for tomorrow while you also enjoy today.

Are you ready to live a life you love?