A joint bank account is useful if you're combining finances, whether that means saving for a mutual goal, paying shared bills, teaching your children money management skills or starting a business ...

Editor's Note: APYs listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes. CNBC Select will update as changes are made public.

We independently review everything we recommend. When you buy through our links, we may earn a commission. Learn more› By Doug Mahoney Doug Mahoney is a writer covering home-improvement topics, ...