Did you combine finances? How\'s it going?

posted 2 years ago in Finances
Post # 2
746 posts
Busy bee

We did not combine finances. We do have a common account for bills and such though. By the time we got married we had our personal accounts for so long and so many things attached to them I would not even know how to go about combining finances. 

Post # 3
2986 posts
Sugar bee
  • Wedding: January 2021

We have a joint account that we both pay into off each paycheck which all out shared expenses come out of. We individually choose what to do with the leftover money ourselves. We both have our own investments and personal spending accounts. We may eventually open up joint investments if and when it makes sense to do so, but for now the way we are doing things is working just fine. 

Post # 4
4053 posts
Honey bee
  • Wedding: November 2014

We combined finances and I agree that it helped our discussions about finances. We are both very up front about purchases and make sure to discuss any large purchases (over $100 or so for single items) with each other. We never really fought about money before, but it definitely makes it seem like we’re completely on the same page about saving and whatnot.

Post # 5
845 posts
Busy bee

We fully combined finances post marriage, but knew we were headed in that direction even when I moved in with my now husband. 

Though we maintain separate accounts for checking, investments, etc via our work accounts, ultimately we track it all together on Mint. And we pay taxes jointly. So we don’t really care how things get split, or whose account pays for the mortgage vs. childcare vs. other bills. We mostly agree on how to spend/invest our money, so we don’t have too many conflicts there. And, let’s face it, financial conflicts are more likely when money is tight.. and thankfully we aren’t in that situation. So we haven’t been ‘tested’ in that sense!

Post # 6
77 posts
Worker bee

We opened a joint account when we moved in together and deposited the same amount into it to pay for rent, utilities, food, etc but most of our money went into our personal accounts. I dont remember exactly when or how but after we got engaged and we paid for a few big expenses individually (he bought my engagement ring and paid off student loans and I paid off my car) we contributed the majority of our paychecks to our joint accounts. We started saving together for a condo and our wedding. I think at that point we kept a small set amount each paycheck for our own spending money and the remaining went to our joint accounts. Eventually I stopped working when I was pregnant with one of our kids so we moved most of our money to joint accounts. I have a few hundred in my own checking to buy presents but really just use our joint account. He takes a set amount each paycheck to buy lunch at work and presents. It just makes it easier for me to budget, mostly. On one income there is not much that can be separate, I guess. I mean we have our own retirement funds because I dont think those can even be combined. It works for us for now!

Post # 7
1890 posts
Buzzing bee
  • Wedding: September 2017 - Pearson Convention Centre

We started dating in higher school and when we both started our first part time jobs we opened up  joint accounts. For us at the age of 16 it solidified our relationship.

Post # 8
330 posts
Helper bee
  • Wedding: August 2013

My husband and I combined finances. We’ve always been very much on the same page about our money so I don’t think it has had either a postive or negative impact. It’s just our way. That said, the one thing I’ve found challenging about our arrangment is that it is almost impossible for me to buy him gifts without him catching on! In retrospect I wish I’d kept a personal account for fun money. I could of course open one now, but it seems like so much effort for such a minor issue!  

Post # 9
5315 posts
Bee Keeper
  • Wedding: July 2018

We fall weirdly in the middle, we have a joint account but our salaries get paid into personal accounts and we keep all our general spending money in there.  This works for us as we still view it as ‘our’ money.  We talk about big purchases, we make saving goals together, when one gets a bonus or a pay rise we decide together where that money goes.  For us it is the perfect way, we have literally never argued about money. 

When we first moved in together while dating we both put the same amount into the joint account for rent and bills and we kept the rest, now we do the opposite and we both get X to spend and the remainder of our salary goes to the joint. 

Post # 10
1413 posts
Bumble bee
  • Wedding: June 2011

When my husband and I married he went back to school so we had a joined finances. I had no problems with that. He is making good money now and we never fought about money and still don’t. I’m the spender and he’s fine with it because I’m also the saver, if that makes sense. Not sure if this will change any once he starts making more than I do? LOL!

Post # 11
3133 posts
Sugar bee

We combined finances when we got married 31 years ago. It’s still going well. 🙂

Post # 12
2425 posts
Buzzing bee
  • Wedding: October 2010

We combined all finances a few weeks before our wedding.We have our own credit cards and auto notes, and only our own names on the title to our vehicles. We also have our own retirement accounts through our work. But everything we earn goes into either our joint checking or joint savings account. I do have some money from my parents that is separate, in a money market account only I can access, but it’s not an incredibly large sum of money and I don’t add to it.

Post # 13
262 posts
Helper bee
  • Wedding: June 2018 - England

View original reply
pussinboots07 :  we have both! A joint account for bills etc, and a personal account each. This suits us perfectly as if something is for both of us it goes on the joint, if I am wanting more shoes, clothes, etc I pay for them. It works well for us as we have different spending styles! I’m more a little but often spender and he tends to not buy anything for ages and then purchase a bigger item. But tbh, I think different things suit different couples.

Post # 14
740 posts
Busy bee
  • Wedding: January 2016

Thoroughly combined. Works for us. We have never argued about money although we don’t have too much of it. To each their own. 

Post # 15
1517 posts
Bumble bee
  • Wedding: November 2019

Currently we have some shared accounts but we both handle our money separately. He does the actual paying of the bills and I give him our agreed upon share. Sometimes we have to work out larger purchases but so far so good! This system works out well for us. We have discussed that we may combine most of our accounts when we have children because I will most likely stay home or work part time depending on the situation. But all in due time. I find having open communication about money is the only way to be successful. Everyone needs to be comfortable in the arrangement and willing to discuss the topic fairly often no matter how you set up your finances. It sounds like cliche but it’s true. 

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