(Closed) How open are you about finances?

posted 11 years ago in Married Life
Post # 17
Member
168 posts
Blushing bee
  • Wedding: May 2009

We know pretty much everything now that we’re married. Every time we get paid our money gets deposited directly into our joint checking account. From there, we  transfer $200 out to each of our individual accounts for spending money so we can do what we want with that money without having to talk to the other person. After that, we pay all the bills together and transfer a set amount into savings. What is left in our checking is the money we survive on for the month – groceries, entertainment, etc. I have no debt but DH brought in credit card and student loan debt, which we’re currently tackling together to pay off within a year to make way for owning a home. I firmly believe in paying bills and debt together and establishing – and sticking to – a savings plan together. I also believe in allowing each other to have some separate money so we don’t have to check in for every purchase. It works for us!

Post # 18
Member
672 posts
Busy bee
  • Wedding: November 2009

We’re both really open about money and just recently opened up a joint account for bills, rent, food, date night budget, etc.  We’ll each put in our half and then have individual accounts for ourselves for everything else.  I think it should work well, but if it’s still too much of a hassle, we’ll just throw it all together.  We’re both excellent budgeters and never really splurge on anything, so our money talks are pretty easy. 

Post # 19
Member
6009 posts
Bee Keeper
  • Wedding: May 2009

Well, when we bought a house a couple years ago we had to become very comfortable with sharing our finances.  For a long time after that, though, we stuck with the individual accounts with one joint account approach.  We moved about a year ago, and in the hustle and bustle I accidentally missed a credit card payment.    Now Mr. Spring takes care of all our finances including bills, savings, stocks and bonds, even retirement accounts.  Everything is together in one lump sum, and I was really surprised recently to find out how much he has boosted my credit score (by paying off debts immediately, always paying early, etc…).  We are both much happier this way!

Post # 20
Member
164 posts
Blushing bee
  • Wedding: September 2007 - Hyatt Lodge, Oak Brook IL

Everything is combined and we both have full disclosure. It totally works for us, but luckily neither of us has ANY debt (credit card, school loans, cars, anything), so now all we have to worry about is our mortgage. I am the one who manages the money, but I don’t balance the checkbook or anything… (do ppl still do that??)

Post # 21
Member
445 posts
Helper bee
  • Wedding: September 2007

We’re very open. I handle all of the finances just because my husband doesn’t really want to be all that involved, but I give him periodic updates. He knows all of the online passwords to our accounts, so he can check them at any time. We consult each other first prior to making huge purchases. Heck, I even asked if he was ok with me buying a pair of jeans the other day. Not that either of us would ever say no to each other, but it’s just good to be in constant communication with each other.

The only thing he likes is that we write checks for everything (he’s so old school). So no online payments. Boo! Emerald, we unfortunately (or fortunately) still balance our checkbook. I’m anal about it and want it balanced to the penny. If not, it drives me crazy trying to find where I made a mistake

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