Post # 1
Well im getting married next week and im sitting here thinking about budget… and did anyone combine their budgets? leave them seperate? Honestly, my fiance makes the money and im a starving student who bank tellers on the side… how did you do this? Talking about money is a hard topic for me to bring up because i dont want us to be the couple who argues over money but i know we need to get a grip on spending bc he spends like crazy and i never do because i dont make much.. hmmmm
Post # 3
Well, I think not talking about money is what leads to arguments in the long run. Better to figure out a plan (whether it involves combining finances or not), I think, and have a sense of direction.
Post # 4
i definitely agree that you-all need to have a plan figured out as to how you’ll spend the money, split the bills, save, etc.
Post # 5
We’ve always split things 50/50, and will probably continue to do so after we’re married. We plan on contributing to a joint checking and savings account monthly for shared expenses, and keeping our personal accounts to do whatever we want.
Post # 6
I agree that the important thing is to talk about it. Even if you don’t make every decision right now, talk about your expectations and desires. Do you both want to have your own “play money” that the other can’t see? How important is it to be transparent with each other about your fiances? How financially independent do you each want to be, and how do you see yourselves achieving that? What are your biggest financial goals as a couple – saving for a house? Vacations? Paying off debt?
Like you, FI is the breadwinner right now because I will have just graduated college by the time the wedding rolls around. For that reason, it makes more sense for us to have a completely joint account that all of our money goes into. I told FI if he wanted to set some of his income aside for “play money” that would be fine as long as we have our needs and savings taken care of, but he doesn’t want to. Hopefully, one day we will both be making good money, and then we might keep our own checking accounts for some independence but the majority of our money will be shared. That’s just our attitude about finances and marriage.
Post # 7
You guys definitely need to talk about this now. Money is the root of a lot of marital problems and the sooner you resolve the problems, the better.
Before we got married, we split everything 50-50, and we had our own accounts. When we got married, we opened one joint checking account for bills, and we kept our own checking/savings accounts. We both make about the same, but we’ve discussed what would happen if one of us made more than the other. We decided that we would both contribute to bills according to our salaries. For example, if he makes more than me, he would pick up a little extra with rent or something. Same goes for me if I made more. It just made sense for us.
But everything does things differently, so you guys need to open that line of communication!