Post # 1
We are about have a house built and right now we are renting. We haven’t decided if we will combine our finances yet.
Right now Fiance pays rent,cable,& groceries. I pay all of the household bills and our cell phones (I make less than him). We each pay our own carnotes personal credit cards & fun money.It works for us, but with owning the house we will be paying an extra $250-300/month. We can afford it, we are just trying to decide if combining will just be easier.
How is it in your household?
Post # 3
It’s all just combined. The other way seems way too compllicated for me.
Post # 4
Husband pays: Utilities, his car payment, his credit cards and loans, half rent, half cell phone, half car/rental insurance
I pay: My car payment, my credit card, half rent, half cell, half car/rental insurance
We have talked about buying and if that happens I will be paying for more of the mortgage because I have extra money at the end of the month.
Post # 5
Everything is 100% combined. One checking account, one savings account. I personally wouldn’t have it any other way.
Post # 6
It’s all combined. Thinking about doing it the other way gives me a headache.
Post # 7
@amazingbee: oooo you’re building your own place? Threadjack but how did you come to the decision? We’re looking to move and I’ve found the most amazing plot with the potential to build a place that we would have no chance buying for like another ten years… But it’s a big commitment.
back to your question, we split our mortgage and council tax 50-50 from our joint account but I pay for bills because I earn more than double what he does. Food shopping I tend to pay but he will pick up the tab every time we eat out. I spend more than he does on stuff so I’d rather keep my spending money to myself. We also have separate savings but they tend to go towards joint things (holidays, home improvements). When we get married we’re assuming we will pay for it and I will contribute most of it since I can afford to.
Post # 8
Ours wont be combined until October.
Right now I pay the entire mortgage, oil bill ($200/mo) and my student loans.
Fiance pays for groceries, utilities, cable/internet. I make far more than Fiance does so its pretty proportional.
Post # 9
- Wedding: October 2011 - Bed & Breakfast
It’s all combined into one pot. It’s so much easier to manage our finances.
Post # 10
all of our finances are 100% combined. way easier that way and to us makes the most sense in the context of a marriage.
Post # 11
We combined everything a few months before we were officially married. It’s just easier that way.
Post # 12
We equally divide everything household wise (electric bill, mortgage, etc). Other bills we pay on our own.
Post # 13
Right now we aren’t combined, but we split everything 50/50 (we also make roughly the same) … After we get married, we’re going to have our paychecks go into the same account, but we will be taking 10% of our own checks for our personal “fun” money. Luckily, neither of us have much debt … We haven’t discussed a combined credit card yet, though.
Post # 14
We combined everything and it works well for us.
Post # 15
we don’t have a joint account yet, but basically all of our money is just combined. Since we bought a house together we figured that made the most sense. Nothing says ‘you are not financially independent from each other’ like both your names being on a mortgage!
In practise though, I still pay all my bills (phone, credit card) and he pays all his, and for household bills, I take care of some and he takes care of others. He pays the mortgage and I make all major purchases and contributions to savings. It evens out. And then, when it doesn’t (because I’ll be on unpaid maternity leave for a while), I’ll just be doing most of the ‘unpaid work’ (childcare, housekeeping) while he makes money for us. For people who are married and/or own a home together, I don’t really see the point of making a big effort to split things evenly. If you communicate well about finances and are on the same page about how much should be spent on what, it makes more sense to see it as ‘our money’ rather than, ‘my money vs. your money’. If you need to keep things separate because you each have very different ideas about how to spend your own money… well then, that could spell marriage trouble down the road!
Post # 16
@amazingbee: Our money is all combined. I agree with the PPs who said this seems to make things much easier.