(Closed) Joint Savings

posted 5 years ago in Money
Post # 3
Member
2295 posts
Buzzing bee
  • Wedding: April 2013

Yes, when we got engaged, I took a portion out of my savings and put it into the wedding savings (although ours isn’t joint, only my name is on it, but I offered to have his name on it if he wanted to). 

I have a separate account that is solely for the wedding.

Post # 4
Hostess
2557 posts
Sugar bee
  • Wedding: May 2014

My SO and I just opened a joint savings account over the weekend, as well!  It’s primarily going to be for “big” things – wedding, house, new cars, etc.  We are starting from scratch.  I am going to have a certain dollar amount direct deposited right from my paycheck, and he is, as well.  I don’t have much of a personal savings account at the moment, so I didn’t feel like it was fair to tell him he needed to take x amonut from his and put it in the joint when we opened it.  So we’re starting from nothing and will just keep adding as we go along.  🙂

Post # 5
Member
6124 posts
Bee Keeper
  • Wedding: August 2012

Well I took all of my savings (like $20k) and paid off my student loans in full right after engagement/just before moving in.

So I guess techincally I “came to the table” with zero savings – however I had no debt either!

Post # 7
Member
9145 posts
Buzzing Beekeeper
  • Wedding: November 2013 - St. Augustine Beach, FL

I thought I would never open a joint savings account but FH and I did just that when we started actively saving for the wedding.  He deposits money from his account directly into the account and I deposit checks.  He is contributing more frequently because he has a sense of pride in regards to being able to pay for our wedding himself.  Any money left over in the account will become our honeymoon fund.  Then once we take our honeymoon the account will become our mad money account for vacations, big purchases, and maybe a house if we change our minds about buying one.

Post # 8
Member
1513 posts
Bumble bee
  • Wedding: June 2013

we have a shared account for wedding expenses. it also comes in handy for shared household expenses too. we each have our own savings too, but eventually we’ll probably just have one savings account. that will have to wait til fter the i dos though!

Post # 9
Member
3375 posts
Sugar bee
  • Wedding: October 2011

We opened a joint checking/savings account when we got engaged and we closed all our other accounts. We love not dividing our money

Post # 10
Member
658 posts
Busy bee
  • Wedding: December 2012

We used to have a joint savings, long story, but we dont anymore. So how we put money in there was a few ways.

1. Bonus checks or christmas bonuses

2. My fiance gets a vacation check I believe twice a year and that went in there. 

3. all of our change went in a jar and about once a month, that went into the savings.

4. if we picked up odd jobs such as sitting for a neighbors children for an evening. My fiance built an additional bathroom in a friends house and that went in the fund too.

5. Birthday and christmas gift money went in there.

6. I think we had about 2 maybe 3 garage sales and the money from those went in there.

At first its hard to see where the extra money is going to come from, but its there, you just have to look for it and plan ahead. 

Determine what is going in the fund and what isn’t. I have a personal savings that I put money into to go towards tuition. If I was putting money in there, I would sometimes just divide it between the joint account and my private one. Good luck.

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