Interested in how other couple do bills/accounts?

posted 3 years ago in Money
Post # 3
Member
305 posts
Helper bee
  • Wedding: December 2013

My husband and I have the same job and same pay, but live on opposite coasts. Since we haven’t lived together yet we keep pretty much everything separate. We have a joint money account that we both contributed 15k each too, and then any thing having to do with us seeing each other (flights, hotels, going out to eat) comes out of that account. All of the monetary gifts from the wedding went into that account as well. 

Post # 4
Member
6525 posts
Bee Keeper
  • Wedding: September 2013

@soinlove79:  We have a joint account thats just for putting money away. Then we each have our own accounts. We splt the bills, he pays for cable/tele/internet, groceries, and I pay for gas, elec and then for rent he transfers me the money every month so I can write the check

Post # 5
Member
6505 posts
Bee Keeper
  • Wedding: June 2013

We dump everything into one account. From there DH manages most of it- he pays the bills, transfers some to savings and invests in stocks.

Before getting married we had separate accounts. I was basically using my whole pay check to pay for my student loans and I would ocassionaly buy groceries and I would always pay off my credit card. He was paying for everything else. We decided to combine into one account because it was just easier and we were already basically sharing money anyways.

 

 

Post # 6
Member
75 posts
Worker bee
  • Wedding: November 1999

We have our own credit cards,  but a joint chequing and a few joint savings (for different savings goals). No separate bank accounts. So I pay all the bills with the money in the chequing (which receives both of our paycheques) and move money into savings etc. But he is still involved…we have a list on the fridge of what bills are due when, and he’ll ask questions like how much was this bill, how much do we have in chequings/savings right now. He’ll often sit down next to me and watch me pay bills as well. It works well, because he is naturally the saver and I’m the spender, so I need to monitor the money closely to keep myself in track, while he is content to just not spend!

Post # 7
Member
2782 posts
Sugar bee
  • Wedding: November 2013

@soinlove79:  We share everything.  Joint accounts, credit cards- cars.  Everything.  Works great for us.

Post # 8
Member
301 posts
Helper bee
  • Wedding: June 2015

@soinlove79:  He keeps track of what bills need to be paid and when. I pay rent, he pays the other household bills, and we alternate buying groceries. We are not married yet and have separate checking & savings accounts.

Post # 9
Member
10748 posts
Sugar Beekeeper
  • Wedding: February 2014

We do the same as you! We each had all our own personal stuff before we met anyway, so why get rid of it we thought. We just created some new joint stuff.

Post # 10
Member
2124 posts
Buzzing bee
  • Wedding: May 2013

We have joint checking and savings accounts but our own credit cards. 

Post # 11
Member
1560 posts
Bumble bee
  • Wedding: October 2013

@soinlove79:  That’s how we do it too, and I love it! We never have fights about money, because we each have our own fun money after the bills are paid. Works great.

Post # 12
Member
2328 posts
Buzzing bee
  • Wedding: August 2013

We have separate accounts that our pay goes into and a joint account for MOST bills (there are a couple still coming out of my account as they were my bills before they were our bills) Every payday we both pay in an equal amount to cover the bills plus a little extra for household things, such as insurance and TV licence for when those are due. As we get cashback on certain products (e.g. Fuel) we use the joint credit card for that but then we each pay into the joint account the amount we have spent on the credit card from our personal accounts. Money for food is split 50:50, which comes out of a different account!

Post # 13
Member
6073 posts
Bee Keeper
  • Wedding: August 2012

@soinlove79:  

This is how we’ve been doing it:  We each get paid on the first of the month.  Those are deposited automatically into a single checking.  All the bills are paid on auto pay from this account.  I have my own AMEX CC, he has his own CHASE CC, but the checking pays off both of those each due date.  This account also funds several retirement accounts that we each own.  The rest is savings for both of us.

Gift don’t seem to be a problem as we have individual CC to do that with.  All fun money comes from the same pot.  We just use moderation and disucss anything over a certain amount.

Post # 14
Member
2319 posts
Buzzing bee
  • Wedding: October 2013

We have our own checking accounts and a joint savings account.

Post # 15
Member
10491 posts
Sugar Beekeeper
  • Wedding: January 2011

We view everything as joint.  We have one main CC and will probably open a 2nd soon, and one main chequing account.

None of our savings/TFSAs/RRSPs are joint, but we view them as joint.  I go back and forth about what to do with non-reg accounts.  Keeping them separate is good if there’s identity theft of one of us, but making them joint is good if one person ended up in the hospital badly injured or something like that.  We would still consider one person as primary on each, just to help plan for taxes with the attribution rules.

We have separate CCs which are rarely used, and a joint LOC for emergencies.  I still have separate chequing accounts, one with a small amount of money in it to keep a CC non-fee, and the other because it was free but I never found a need for it.

Post # 16
Member
1629 posts
Bumble bee
  • Wedding: October 2014 - Church

@soinlove79:  All of our finances are compeltely joined together. While we do have our own credit cards and savings accounts, almost everything is joint except for a set amount of personal spending money that we get which we transfer to our personal accounts and can use for whatever we want. We have a joint savings wherein we save for vacation and semi-annual car costs. We are jointly paying off both our personal debts so we as a unit can be debt free and eventually buy a house. While it was not easy in the beginning it has made us a stronger unit as we no longer think individually and it is our money, so even though there is a difference in income it is not noticeable. It’s not for everyone but it works for us and it has made us happy.

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