When did YOU decide to combine finances?

posted 1 year ago in Money
  • poll: When did you and your SO combine finances?
    When we got married : (60 votes)
    36 %
    When we got engaged : (43 votes)
    26 %
    When we moved in together : (48 votes)
    29 %
    Never- we are completely seperate : (15 votes)
    9 %
  • Member
    1852 posts
    Buzzing bee

    we haven’t yet, but we’re planning on doing it after we get married. 

    Member
    250 posts
    Helper bee

    I voted “when we moved in together,” but really, we got engaged 3 days after moving in. We did it since it made sense at the time to set up a new bank account (had just moved to a new state), but we both still have our separate checking/credit accounts as well.

    Member
    500 posts
    Busy bee

    We combined our finances 100% when we moved in together / got engaged, which happened roughly at the same time.

    We have a savings account and actually 2 checking….. one that all of our direct debits come out of each month for all our bills and then a 2nd for “living” expenses, which is basically the amount we have decided to use for eating out, grocery shopping, gas, haircuts etc after all the bills are paid and we have moved a bit of money into savings.  

    This is my 3rd marriage and I said in the middle of my first (when we UN-combined our finances) that I would never ever combine money with anyone.  However, this guy is different.  So, it works for us.  I can’t imagine trying to keep everything separate and determining who owed for what.  We are married and it’s OUR money, OUR debt and OUR fun.  But we’re older, so we’re not much fun anymore!!!!!!!  

    We haven’t really had a “budget”, which is what we are working on developing for the new year.  Our wedding budget got away from us, so we are going to recover from that, get ourselves out of our debt and develop a savings plan.  We’re going to do all that together – not separately.

    Member
    159 posts
    Blushing bee

    We combined our finances 100% after we moved in together. It just made the most sense for us. We make pretty much the same amount of money, and it just became such a pain for him to be paying me back or me to be paying him back.

    We were going to go the whole “household account” and “separate accounts” until he learned that I’m better at balancing/budgeting, so now we joint everything :P .

    Overall, I feel like it’s a really smart move to have at least a joint “household” account as it is a joint household. I also feel like after we combined accounts our financial responsibility increased, as did our power to make better financial investments, decisions, etc.

    Good luck!

    Member
    1286 posts
    Bumble bee

    Every situation is so different. I have friends who live together and their SO or fiance just transfers money in their bank accounts. I have another MARRIED couple who the husband doesn’t even have a bank account and isn’t on her at all and they have a business together (we don’t understand it at all but we are NOT in a place to judge at all). For My FI and I, when we first moved in together 3.5 years ago he initially just paid a set amount of “rent” to me cause the house and all bills are in my name. I did al the grocery shopping. He paid his own car payment and ins. BUT, right after we got engaged I had him switch his direct deposit into my bank account and added him to my account. I added him to my AMEX which we use for groceries and gas as well. It’s soooo much easier for me to just continue to keep track of the house bills that way. We NEVER argue about money! I know what he makes, he knows what I make. He works over time and when he wants to get me gifts he takes out cash. It works for us. :)

    Member
    1046 posts
    Bumble bee

    We moved in togther May 2011, bought a home together August 2011, got engaged July 2012… and combined finances September 2012.

    Member
    2992 posts
    Sugar bee

    We have a joint savings account but separate checking accounts and we plan on keeping it that way.

    Member
    6874 posts
    Busy Beekeeper

    Me and my fiance have known each other for 6 years, have been living together for 4 years. Since we have lived together, our finances have always been put together. We have a system – We throw our money into the pot, pay whatever bills are unpaid, get the things we need [groceries, toiletries, ect], and then we think about things we want. Everything leftover goes into savings accounts.

    Member
    663 posts
    Busy bee

    we got married in June 2012 and will combine finances in January 2013.  We both had loose ends to tie up before combining!

    Member
    521 posts
    Busy bee

    We got a joint account a couple of months after we got engaged. I feel that this is important in our relationship because there will be no his or hers, it will be ours. 

    Of course, this may not work for everyone, so anyone can do what they want. But I do feel this will work for us. 

    Member
    980 posts
    Busy bee

    We opened a joint account a few years ago that we both contributed to equally every paycheck. We used that as our savings for our house. We got engaged before moving in together, and once we did, all finances were combined.

    Member
    6304 posts
    Bee Keeper

    We are working on it. Right now we have between us two credit cards, three bank accounts and three sets of checks. It’s a process. :/

    Member
    2038 posts
    Buzzing bee

    We got engaged in Feb, moved in together in Sept, and will be married in July. When moving in together we budgeted together– I buy food, pay for cable/internet, and our phones and he pays for rent. We combined cell phone plans (big deal), but other than that are apart. In August, after the wedding, I will switch over to his checking and savings. We will be added as an authorized user to each others credit card accounts (but won’t have a card to use).

    My feeling is that I wouldn’t want to combine until we have legal protections. He is also really, really private. The only reason we got combined cell phones was his broke and it didn’t make sense any more.

    Member
    547 posts
    Busy bee

    We moved in together and six months later, we combined finances.  We made roughly the same amount and it was the best decision for us.  

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