(Closed) for couples that have a joint account and separate accounts…

posted 9 years ago in Money
Post # 3
Member
484 posts
Helper bee

That’s exactly what we do. Half of each of our salaries goes into our joint accounts for rent, groceries, dinners out etc. and the other half goes into our personal account. I imagine when our expenses increase (i.e we buy a house & have children) the percentages will shift to being way more into the joint and less to the personal. 

It’s easy (and fair) for us right now because we have similar salaries. But even if one of us was to get paid more I think we would still stick with the perctages thing instead of a set amount.

Post # 4
Member
948 posts
Busy bee
  • Wedding: March 2010

Our set up: we will have dual access to all accounts and credit cards, his account will be our main one where both paychecks are deposited into once we get all name change paperwork started.  I will keep mine since some of my student loans and our mortgage are through my bank, so we will transfer money into that one to pay those bills with.  We don’t have set percentages for spending, it is pretty much save up when we can and don’t over spend what we have, we just aren’t big shoppers to begin with.  We split grocery costs and most bills in half, he pays for the eating out costs since I cook most nights, and I pay 1/3 of our mortgage since he makes more than I do.   

Post # 5
Member
1104 posts
Bumble bee

We have set amounts rather than percentages. FH figured out what all our joint expenses were over the year and then divided that to figure out how much we each needed to contribute every pay day. I recently suggested we move to percentages bc I earn more than he does, but he wanted to keep it more even. I put a bit more into the joint account bc the reason he earns less in pocket is bc of his perks, most of which I benefit from too (like a company car). I’m getting a payrise soon and think I’ll put the extra into our joint account to boost the wedding fund as well. I like having joint and separate money, even though it probably isn’t what I would choose (my parents are a what’smineisyours couple) it works well for us and means we don’t have to worry about what would happen if we split up (horrible to think about but we’ve seen people close to us get badly burnt financially – why make a break up even harder than it has to be?)

Post # 6
Member
14186 posts
Honey Beekeeper
  • Wedding: June 2009

We both make about the same amount of money (within 5K of each other) so we’re going to sit down and put a certain amount into our joint account each month. When our salaries drastically change (ie when he gets out of the army and has no salary until he finds a job or makes less than me) we’ll change to a percentage.

I’m with mountain.bride on her last statement. I hate to say it that way, but i’d rather not get burnt in the long run! My parents keep separate money and it works out fine. No jealousy when she buys purses, etc, just like me!

Post # 7
Member
2207 posts
Buzzing bee
  • Wedding: September 2009

We do amounts.  We know the ballpark range of our monthly bills and each deposit enough to cover that, plus a little extra to cover together stuff like dinner or stuff for the apt/home, then some to our saving accounts.  The rest stays in our own accounts to do what we wish with it

Post # 8
Member
2725 posts
Sugar bee
  • Wedding: September 2009

We don’t have a joint account yet, but we are planning on doing amounts. I’m not employed right now and most of my unemployment goes to my bills. I’m planning on keeping my account and paying my bills out of it. He’s planning on keeping his account and then we will open a joint account to pay household expense in which I’ll deposit any extra to go toward those expense.

Post # 9
Member
137 posts
Blushing bee
  • Wedding: October 2008

We have a joint account but pretty much keep our funds seperate. I like the idea of putting half the paycheck into the joint for communial expenses. I’m going to talk to my husband about that.

Post # 10
Member
1205 posts
Bumble bee
  • Wedding: May 2009

We contribute 35% into a joint account that pays for household bills: rent, utilities, cable. We also pay for travel expenses from this account.

We do pay for things for each other from our separate accounts, too. I’ll usually buy groceries and he’ll pay for dinners out. We also have separate bills we pay from our own money: cell phone, car payments, insurance, student loans, etc. Our “own” money isn’t just for playing.

Post # 11
Member
17 posts
Newbee
  • Wedding: May 2010

My Fiance and I each contribute $500 a month into a ‘House Account.’  This covers food (groceries and eating out), everything for our dog, and stuff associated with the house (when we re-painted the office, when we buy supplies for the garden).  What we have left over at the end of the month, we put into a joint savings account.

We decided to let him pay for the house mortgage and utilities on his own and use my salary to pay off my student loans and then to be used for savings.  He lived in the house alone before I moved in, so he was alredy accustomed to paying it himself. This way, if we decide to have children in a few years and I take off work to raise them, we will already be used to living off of one salary.  It seems to work for us (so far!).

Post # 12
Bee
1048 posts
Bumble bee
  • Wedding: September 2009 - City Hall

We do it by bill.

Like, he pays for food, gas and one car payment. I pay for the mortgage, another car payment, and utilities. Etc. Just kind of broke it up based on how much each of us could afford.

Post # 13
Member
4466 posts
Honey bee
  • Wedding: June 2010

We’ve had a joint account since we moved in together four years ago.  We pretty much only use the joint account for rent and various bills.  We each put in a set amount each month and then pay it from there.  For groceries, vet visits, household expenses, dining out, etc., we just try to split it up fairly.  My fiance makes quite a bit more than I do, so he contributes more.

I’m planning on changing this after we get married, as in we put more in the joint account and use that for everything we do and buy together, and then keep our separate accounts for shopping and stuff we do on our own.

Post # 14
Member
599 posts
Busy bee
  • Wedding: September 2009

We are a little strange. I think we are going to have to sit and talk about this at some point, but what has been working out well for us so far is using our joint Credit Card to pay for EVERYTHING. From a $6 purchase at Taco Bell to $2500 payment for (insert large purchase here). This includes monthly bills (aside from rent, which we split and pay by check).

We then each pay half the balance on payday. We work at the same place and make almost the same amount of money (within $2k) so we conveniently get paid on the same day. This system has been pretty simple so far, it makes tracking spending VERY easy, and we get points on our card for cash back, miles, etc.

He has some private checking and savings accounts from before we met, as do I. We also each have a checking acct set up that I have access to both (he has no access to mine, I do all the household finances). We have many online savings accounts that we both have access to, but are controlled by one or the other. If that made ANY sense, congrats! I think between us we have probably about 15 different bank accounts (some multiple accts with the same bank). I guess this is why the credit card thing made the most sense for us.

Wow, writing that all down made me realize how all-over-the-place we are.

Post # 15
Member
2030 posts
Buzzing bee
  • Wedding: December 1969

We both work and earn similar amounts, so we put $100 into each of our personal accounts every 2 weeks when we get paid. The rest goes into the joint account. Things we buy on our own (like lunch, coffee, clothes, movies, etc.) come out of the personal account. If we go shopping together (like spend a day at the mall buying clothes and getting lunch) then it comes out of the joint account.

Post # 16
Member
196 posts
Blushing bee
  • Wedding: October 2009

My Fiance and have one joint savings account, one joint checking account, and one credit card together.  Whatever is left over after paying bills and savings – we split evenly and can spend on whatever we choose.  Granted – one makes about $15K more than the other, so it seemed easiest to do it this way.

Can I ask, to all your married gals, do you have one savings account although you and your Darling Husband have 3 checking accounts?  I always thought people kept separate accounts back in the 60s so that if divorce happened, the woman wouldn’t be left with nothing.  Honestly, I’m surprised to see so many separate accounts here in the hive.  All of my friends that are married have one joint account for each major checking/savings/etc so I think that is why I find it so surprising here.

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