- 2 years ago
A while back I had two separate threads one about how other bees split their finances with their SO and another just about how to handle the feeling that I have significantly less in live savings thus far than Fiance does. Fiance have talked about this constantly since I sought out advice on the bee, and have thus decided on what we will do with our finances once we close our home and then soon after, once we get married.
I’m back because we decided to have our personal accounts separate but open new joint accounts (one savings, one checking). The checking account we will open within the next few weeks because this will hold all our home bills (mortgage, home improvement projects, utilities, etc) and the savings we will open after we are married. **I don’t want any negative comments on this. This is the method that works best for Fiance and I and that we are comfortable with, I fully understand others may not agree or like it, but I don’t want to hear it.
Question I have is: If you had these separate accounts – your personal accounts and joint account with your SO, how did you put money into each account? How did you split what amounts go where? Do you drive to the bank and physically deposit/withdraw? Do you set up automatic transfers every week/month or for certain loans? Etc. On my other older threads, some said 50/50, some kept track of receipts and paid each other back, others I think said a certain percent goes to personal accounts, the rest to the joint accounts… and more.
Currently, Fiance and I will have similar MONTHLY incomes (putting it monthly as most our bills will be monthly) give or take a few hundred dollars… as Fiance can be paid over-time depending on his work schedule. Separately, Fiance has his truck payment and I have my car and student loan payment. Together we’ll have our house bills, groceries, date nights plus a bunch of other random stuff. I’m struggling with how I should split my income to cover my debt, plus contribute to the household as equally as possible but also keep some extras if I want to splurge on clothes or whatever. This is the system Fiance and I both like because as an example, if I want to go buy a $100 pair of jeans, that should come out of my personal money, not our joint account… also applicable to gifts if I want to buy him something as a surprise, etc.
Any suggestions or advice? Should I put $XXX amount weekly into our joint account the rest in my personal to pay off my debt? Should I put a certain percent each paycheck into savings/joint? This is just going to be an adjustment starting out, especially because Fiance and I get paid on different schedules (him weekly, me bi-weekly) and I know over time the kinks will get worked out, but it’s still stressful!