(Closed) Fun Poll: Financial freedom

posted 11 years ago in Money
  • poll: Does your spouse/future spouse have to discuss spending with you over a certain amount?

    Yes...anything over $100

    Yes...anything over $1000

    Yes...anything over $5000

    Yes...anything over $10,000

    Yes...anything over $20,000

    No...he/she can buy whatever, whenever

    Not really...as long as it doesn't come from the joint account.

  • Post # 62
    303 posts
    Helper bee
    • Wedding: December 1969

    Ours is actually anything over $75.  Or anything that is big in size 😉

    Post # 63
    1139 posts
    Bumble bee

    I always feel obligated to post on these topics based on my background in the financial services industry.  For those of you who keep everything totally separate or almost everything separate I highly suggest that you at the very least change your individual accounts to “Transfer on Death” accounts.  Especially if you have big expenses that you have to pay (like a mortgage or a car payment).  If not, one of you could end up in SERIOUS trouble if the other passes away.  Your SO’s money will go through his estate rather than going directly to you (even if you are married) and it can take some time before you have access to the money, and yet you have to continue to pay your bills.  I personally don’t understand the idea of separate money once you are married.  Everything that my husband and I have is “ours”.  But I do recognize different things work better for different people.  I just really suggest you review your situation to figure out how things would work if one of you were gone.

    Post # 65
    159 posts
    Blushing bee

    We have our joint money and our separate money.  We discuss joint purchases but not personal purchases.

    Post # 68
    7039 posts
    Busy Beekeeper
    • Wedding: September 2010

    We ask on anything over $150. We also have our own personal allowances ($150 a month each) that extra stuff comes out of (we don’t count food, clothes, etc as “extra”, or prearranged trips, etc as extra, as long as we’ve discussed first).

    It isn’t really about keeping tabs on one another, it’s more that we are adjusting to having joint accounts and think that starting with a 100% notification/disclosure habit will help us ease into how to be aware of our spending habits as we transition. Plus, we are saving for a massive 6-month trip through Asia and a house, so it helps if amounts over $150 aren’t walking out of our accounts without explanation to the other person. You can’t see where you could be saving if you don’t know where the money is going!

    Post # 71
    8375 posts
    Bumble Beekeeper
    • Wedding: June 2009

    I’m so bad. I thought about this poll last night when I spent $160 (joint) at Pier 1 Imports and didn’t talk to my husband about it Tongue out. But the new Christmas pillows I bought are so cute!

    @Socrates, I think it’d be strange if ONLY the person who makes more money has financial freedom in regards to his/her own personal non-joint account. I think that’s a two-way street.

    Post # 72
    6584 posts
    Bee Keeper
    • Wedding: October 2010

    @Socrates – being one of those couples you asked about- either one of us can buy what we want, when we want.  It has no relation to who makes more money.

    Post # 73
    4194 posts
    Honey bee
    • Wedding: May 2010

    We’re joint everything and aggressively saving so probably discuss more than normal. I will give DH a heads up if I’m about to spend more than $100ish on something and he does the same for me. We have to balance out our total spending every month in order to stick to our goal.

    I will say though that we’re both really good about (not) spending, so it’s pretty rare that anything is off limits.

    Post # 75
    1676 posts
    Bumble bee
    • Wedding: September 2010

    We don’t really have a certain limit set. But I’d expect him to discuss any major purchases with me first. For example he thought it would be good to get new windows and he shopped around and got a good price and so we’re getting them.

    Basically I trust his judgement but it’s good to have the discussion first so I can voice any concerns I have. Plus two heads are better than one so sometimes I’ll think of things he doesn’t and vice versa.

    I’d let him know if I was buying anything over a couple hundred dollars just so that he would know when it came out of our account.

    The topic ‘Fun Poll: Financial freedom’ is closed to new replies.

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