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How open are you about finances?

posted 2 years ago in Newlyweds
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    1.
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    Bee
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    Bumble bee
    beagle    October 24, 2009  

    Mr. Beagle and I know everything about each other's finances.  We even pull our credit score together every six months because we're just nerdy like that. :)   We know each other's debts, savings, loans, paychecks, investments, etc.  So I am wondering.... how open are you about your finances? Have you had the finace talk yett?  Do you keep any money secrets?

     
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    Bee
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    Buzzing bee
    maryjane    September 9, 2009   Grand Forks, ND

    We're very open. We have a google doc with all our bills, all our debts. We were already very honest prior to buying our house, but if we hadn't been, we would have really had some 'fessing up to do when it was time to get pre-qualified: they want every single account and debt you have - there's no hiding from the mortgage peeps! The only time i keep a money secret from mr. mj is when I'm saving up to buy him a present. How open are you about finances? :  wedding Icon Biggrin

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    Sugar bee
    penguin    June 7, 2008   Berkeley, Ca

    We are married and we are NOT open at all about our finances! I'm very protective about money, I guess... I like to spend it when I feel like it, and save it as I feel like it.  We have 1 combined account in which we pay our mortgage and property taxes from, but other than that, we keep our own credit cards and checking/savings accts. I wouldn't say I'm secretive about my money... but we don't discuss it a lot (which is probably not really healthy!).

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    Erindesmar    October 17, 2009   Boston, MA

    We are now very open, but when we were in school/starting out jobs and not living together we did not discuss finances much.  But since we got engaged we are very open and now we are buying a house together so it's all discussed.  We're joining up all our accoutns, which it will be a little odd to see how much he spent at Subway, but I think it's the best longterm approach for us.

     
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    Sugar bee
    penguin    June 7, 2008   Berkeley, Ca

    Ah, yes, and I suffer from that weird disease where I like to say things cost less than they did! Like if I buy a dress for $150... I say it cost $120. ITS A DISEASE!

     
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    Busy bee
    amandopolis      

    I guess you could say we're open, in that now that we're married, we have merged all our finances and my husband has been placed in charge of everything.  I like to remain blissfully oblivious.  He squirrels money away, whereas I'm a spender.  So I ask his permission before I make any big purchases, and he's never denied me yet :)

     
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    Bee Keeper
    mouse    September 11, 2009   Austin, TX

    We are open, but it's kind of an awkward topic for me, b/c I'm still finishing up the "school" phase of my life.  I've been living off loans for the past three years, and I'm about to have to start paying them back.  So scary!  I know the Dude wants to help me, but I also have a sense of pride about wanting to be able to pay my own bills.  The Dude has gotten very good at budgeting ever since we started dating.  When we got serious, he started saving money every month for the first time in his life.  I'm so proud of him! 

     
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    Bee
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    Sugar bee
    mrsbee    March 5, 2005   New York, NY

    well we share a joint account and don't use credit cards so our finances are an open book.  but mr. bee doesn't really check them so i prefer the don't ask don't tell method.

    he doesn't really spend money on anything, so i'm the one not telling and he's the one not asking. How open are you about finances? :  wedding Icon Wink

     
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    Busy bee
    hcritton    09/06/09   Seattle, WA

    His money is my money, my money is his money... we've had a joint account now for 2 years, we own a house, joint credit cards.... I pay all the bills and I tell him when he's cut off for the month because of all his saltwater fish tank purchases!

     
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    Bumble bee
    flamingo    June 21, 2008   Montreal, Qc Canada

    I deal with all the money.... EVERY Penny of it. Mr.Flamingo prefers it that way...
    Ive tried to convince him to do his own finances but says I do a better job.

    No secrets at all... heck I even know when he goes out to lunch.

     
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    Buzzing bee
    dorsay    August 2009  

    Until recently we weren't super open about our finances. While in England Mr.D and I both opened up to each other and we've both felt so much better since getting on the same page. We could still be MORE open I think, but it's all about the baby steps  :)

     
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    Bee
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    Sugar bee
    taffy      

    We are verrry open about it! Like, we have a list of all of our usernames and passwords to bank and credit accounts. 

     
    13.
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    Busy bee
    mascara      

    We are very open about it too.  We've been keeping our separate accounts but we'll join them after we're married.  He is really anal about keeping track of everything so I can't wait until he does that part for me too!

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    Jessie516    May 16, 2009   Ann Arbor, MI

    We're open about our finances, but we still keep things separate.  We have a joint account for household expenses (car, rent, etc.), but we also have our own bank accounts and credit cards.  We don't check our personal account/card balances, but we talk about them periodically.  I think we both know roughly what the other person has in savings/debt, even if we don't access each other's accounts. 

     
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    Buzzing bee
    maryjane    September 9, 2009   Grand Forks, ND

    Mr. MJ and I have two separate accounts also. I'm not sure if we're going to merge them or not. The way our system works now, it works. We're open about everything, but maintaining our separate accounts allows us each to keep track of our own spending. He has his personal CC and I have mine.. he pays certain bills and I pay others. We'll probably go joint eventually, but for now, we're alright with two accounts.

     
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    Helper bee
    loveatfirstsightlover    May 30, 2009   Iowa

    We know pretty much everything now that we're married. Every time we get paid our money gets deposited directly into our joint checking account. From there, we  transfer $200 out to each of our individual accounts for spending money so we can do what we want with that money without having to talk to the other person. After that, we pay all the bills together and transfer a set amount into savings. What is left in our checking is the money we survive on for the month - groceries, entertainment, etc. I have no debt but DH brought in credit card and student loan debt, which we're currently tackling together to pay off within a year to make way for owning a home. I firmly believe in paying bills and debt together and establishing - and sticking to - a savings plan together. I also believe in allowing each other to have some separate money so we don't have to check in for every purchase. It works for us!

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    Busy bee
    minneapolitan    11/7/2009   Minneapolis, MN

    We're both really open about money and just recently opened up a joint account for bills, rent, food, date night budget, etc.  We'll each put in our half and then have individual accounts for ourselves for everything else.  I think it should work well, but if it's still too much of a hassle, we'll just throw it all together.  We're both excellent budgeters and never really splurge on anything, so our money talks are pretty easy. 

     
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    Mrs. Spring    May 10, 2009   California

    Well, when we bought a house a couple years ago we had to become very comfortable with sharing our finances.  For a long time after that, though, we stuck with the individual accounts with one joint account approach.  We moved about a year ago, and in the hustle and bustle I accidentally missed a credit card payment.  How open are you about finances? :  wedding Icon Redface  Now Mr. Spring takes care of all our finances including bills, savings, stocks and bonds, even retirement accounts.  Everything is together in one lump sum, and I was really surprised recently to find out how much he has boosted my credit score (by paying off debts immediately, always paying early, etc...).  We are both much happier this way!

     
    19.
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    Bumble bee
    emerald    9/8/07   Chicago, IL

    Everything is combined and we both have full disclosure. It totally works for us, but luckily neither of us has ANY debt (credit card, school loans, cars, anything), so now all we have to worry about is our mortgage. I am the one who manages the money, but I don't balance the checkbook or anything... (do ppl still do that??)

     
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    448 posts
    Helper bee
    mlkeysock    September 1, 2007   near Philadelphia, PA

    We're very open. I handle all of the finances just because my husband doesn't really want to be all that involved, but I give him periodic updates. He knows all of the online passwords to our accounts, so he can check them at any time. We consult each other first prior to making huge purchases. Heck, I even asked if he was ok with me buying a pair of jeans the other day. Not that either of us would ever say no to each other, but it's just good to be in constant communication with each other.

    The only thing he likes is that we write checks for everything (he's so old school). So no online payments. Boo! Emerald, we unfortunately (or fortunately) still balance our checkbook. I'm anal about it and want it balanced to the penny. If not, it drives me crazy trying to find where I made a mistake How open are you about finances? :  wedding Icon Biggrin

     

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