(Closed) Joint Checking Accounts

posted 7 years ago in Money
Post # 32
Member
1805 posts
Buzzing bee
  • Wedding: March 2013

@otto2008:  Right when we got back from the honeymoon I changed my last name, then we added eachother to our accts. Im a student, so all the money coming in is from him. He deals with the finances, but I have access to all of it.

Post # 33
Member
323 posts
Helper bee
  • Wedding: July 2013

@otto2008:  We made a joint account a couple months before we were engaged… It instantly became the only account both of us have, and we each have our own credit card attached to the same account, as well as 2 savings accounts (which currently have $0 in them Undecided)

As it is our only account, both our paycheques/everything goes in there 😛

At the time, he was the only one working as he was on internship and I was still full-time student. It just made/makes everything so much easier.

Post # 34
Member
463 posts
Helper bee
  • Wedding: July 2014

We got a joint checking account when he switched to my bank after over 5 years of dating.  We use it to pay our rent and other bills we pay. We use our own personal checking accounts for everything else.  It’s very useful. Makes paying the bills easier.

Post # 35
Member
3080 posts
Sugar bee
  • Wedding: July 2014

@otto2008:  we have a joint savings account. He makes more and puts more in. He literally makes more than double my salary though. 

Post # 36
Member
507 posts
Busy bee
  • Wedding: August 2013

We have completely separate accounts. He wire transfers half the mortgage and house expenses (utilities, internet, and gym membership) into my account once a month. I pay all those bills. As far as everything else, we are completely separate, even our retirement accounts. 

We talk about money and retirement goals all the time though, at least 2-3 times a month. But I like not having to account to each other how we spend our money. 

Post # 37
Member
2836 posts
Sugar bee
  • Wedding: November 2013

@otto2008:  We got a combined checking account after the we realized we were going to get married, we lived together for a few months- but before we were officially engaged.

 

We have a joint account, a joint savings, and then I have my own account with attached savings.  The only reason I have my own separate account is because I get monthly deposits made into that account- and they aren’t done by an employer.  It takes a little more paperwork to get it changed, and requires me setting up a meeting and driving a ways- I just haven’t gotten around to it yet.  I’ll either tranfer money into our joint- or sometimes I just dont’ bother, but use it for everyday expenses/bills.

This works well for us- I used to make more than H, but right now I don’t work.  We share everything- and it doesn’t matter who makes more money than the other.  Neither one of us makes huge purchases- or when we do, we tend to be together  And we generally manage to talk about everything.  We’ve never had a problem, and personally- I think things would be more complicated if we had separate and each had to put a percentage or equal amounts into a third/joint account.  I feel like when that happens- unless both parties end up making equal amounts of money, there tends to be issues/resentment down the road.  I’ve heard so many friends speak of this.  They tend to be happy with the agreement at first, but then when thier husband makes more, and gets to have more “fun” money….eventually, it makes for no good.  They either have to ask thier husband for extra fun money- which in turn feels like they have to have thier purchases validated OR they just don’t get to at all.  If thier husband puts money into savings, great, but realistically- it still sucks watching someone else have all the fun!

Post # 38
Member
1001 posts
Bumble bee

We have a joint checking and a joint savings.  We also both have our own accounts.  We both contribute equal amounts of money to the joint accounts, which we use to cover joint household expenses.  We also make around the same amount of money, and both work full time.

Post # 39
Member
6112 posts
Bee Keeper
  • Wedding: August 2012

@otto2008:  We were engaged for starters.  Then I moved into his house.  Then I sold my house.  I waited til all the house stuff was cleared, gas account closed, etc.  I also needed two more months to pay off my student loans.  So then we merged accounts, more like I closed my Wells Fargo and got added on to his Chase.  His household bills were already set up to it, so no need to start a whole new account. Basically 4 months after engagement.

It was pretty easy to change my name after marriage.

Post # 40
Member
868 posts
Busy bee
  • Wedding: July 2013

@otto2008:  we first created a joint checking account for the wedding. he paid for most of the wedding with a surprise contribution from his parents. (so, in answer to your question, he provided most of the $ in the joint account) once we got married he added me to most of his accounts but we had already decided we would each keep one small separate account for “fun money” and to buy gifts for each other. all other accounts are joint including our brokerage account.

Post # 41
Member
4182 posts
Honey bee
  • Wedding: October 2015

I followed the very successful route of my parents. My SO and I have been living together for a year, so what we do is pile our money into one account and then set aside our portion for bills, $40 a week for misc. spending, and then the rest is common money. 

For a while we were just spending what we put in. If I put in $400 and SO put in $500, we would not spend outside of that means, but as we had more bills to pay over time, we split it that way. We sit down once a week for a bit to go over the finances and keep everything in check.

Post # 42
Member
841 posts
Busy bee
  • Wedding: August 2015

@otto2008:  We are combining all our accounts when we get married. I suppose I’ll be putting more money in because I make more than Fiance, but it’s not an issue for me – he has a good job, works hard and contributes. That’s what matters.

Post # 43
Member
806 posts
Busy bee
  • Wedding: March 2013

We got a joint when we moved in together…to share house expenses, etc.  It started the idea of “our” money, even though we kept our own accounts as well.  Now that we’re married, we still have a joint and personal accounts, although more of our $$ goes into the joint now than before. 

When we first starting pooling money we wrote down all of our expenses, our income and came up with a % contribution.  So lets say we collectively need $xxxx to live on per month.  If he makes 20% more than me, then he would put in that % more into the joint account.  That worked well for us, and we re-visited the % amounts frequently. 

Post # 44
Member
6516 posts
Bee Keeper
  • Wedding: September 2013

@otto2008:  we created one a few months before the wedding because we knew we would be getting gifts from the wedding. we don’t touch that account though. its strictly for saving for a house/condo.

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