Post # 32
We have not merged accounts yet but will do so this week. Here’s what we are planning:
-One joint checking account
-One (or more depending on what we are saving for) joint savings account. Money will automatically go into the savings account every pay period before we can touch it.
-At least $300/month will go into our retirement accounts outside of our work retirement accounts.
-Two separate checking accounts for personal expenses (make up and clothes for me, hobby stuff and lumber for his “craft projects” for him)
-We put almost EVERYTHING on one credit card that gives us 1% cash back and pay if off every month.
Luckily, the only debt we have to worry about is his car payment. We also both work.
Good luck to you!
Post # 33
This thread is awesome! My husband and I just got married, and money has always been a struggle for us. We both have had this mindset that once we get married everything will work itself out..But that, of course, isn’t happening because we are making the same mistakes. we have a joint account, and I think that is best for tracking our money. But I also love the idea of the envelopes with how much cash we can spend. And I definitely think we should sit down and write out our budget! Thanks ladies!!
Post # 34
@ThreeMeers: I see this post is a little old, but just to give my two cents:
We have one joint account that we use for bills and household expensesthat we both deposit into as needed. We split all the bills 50/50, but if one of you is the bread winner than you could do 70/30 or something. We rarely adjust the amount we put in and we include a little extra for unknown joint expences.
What ever is left is our money to do with what we please. We have our own spending accounts. I’m a saver, he is a spender on car parts and toys and stuff. It’s easier for me knowing that he isn’t spending my hard earned money so I don’t care what he buys and I don’t see his spending acount purchases.
It also works well when we get gifts and things for each other so that we can’t tell that a large purchase was made or that he was at some store that I know he must have got something for me.
Hope you guys get it figured out. What ever you chose to do I’m sure you’ll get into a rutine and it will get easier.