SO makes more than you? How do you delegate financial responsibility?

posted 2 years ago in Finances
Post # 76
Member
2004 posts
Buzzing bee
  • Wedding: October 2016

Before we were married, we had a joint checking account where we each put in 65% of our paychecks, and that paid for rent/shared expenses/joint credit card/etc.

After we got married and bought a home, we just combined finances completely. My husband makes a bit more than I do, but the majority of our downpayment came from my investment account.

Post # 77
Member
1383 posts
Bumble bee
  • Wedding: August 2019

We combined everything about 8 months ago. Literally everything. But he had some financial infidelity so my trust was shot. If that hadn’t have happened we likely wouldn’t have combined finances til we bought our house (last month). 

Post # 78
Member
378 posts
Helper bee

When we first moved in together we split everything 50/50 but Darling Husband had some time off work to focus on personal projects so I paid for everything, then when he got a job again we share absolutely everything.

Most of the bills come out of my account so often I ask him to transfer his wage to me so I know what’s covered and what’s left over.

If we want to buy anything then we check in with eachother unless it’s less than $20 on food or household items, purely because we’re trying to get some debt paid off and we hold eachother accountable for getting to that goal.

We definitely quickly changed to the ‘whats mine is yours’ mentality after a year or so of being married, regardless who has made more during that time.

Post # 79
Member
3035 posts
Sugar bee
  • Wedding: November 2016

We view it all as one. We went joint after marriage. Both our money regardless of whom makes more goes into the same account.  Bills gets taken out, amount we set to save monthly goes into savings, and amount we set aside for weekly spending goes to checking. Any big purchases we generally inform the other of beforehand but otherwise it all generally works out in what we allotted for regular spending.

Post # 80
Member
82 posts
Worker bee

We put both our salaries into a matrix that calculates everything as a split based on salary percentage. It could not be fairer that way. Anything extra I make (I have a basic and commission) goes in the joint pot for a house deposit. Whatever is extra from the salary percentage outside of rent and bills is £100 into ‘date activities’, the rest is the respective person’s to go on savings or debt. 

At Christmas we set a limit that’s fair for both people this applies to birthdays as well so no one gets more than the other. 

As he earns more I occassionally get treated to things and likewise when I have a great commission month he does as well.

 

We don’t have a joint account, I feel like I probably wouldn’t ever want to have a joint account until we move in and start paying a mortgage when it makes more sense. At the moment it doesn’t make sense for us to have one, especially as everything as split completely fairly.

Post # 81
Member
64 posts
Worker bee
  • Wedding: April 2019

I worked through high school and college and paid for school myself but now it’s 100/0 (my fiancé fully supports me) and has been since after we bought our home (my first, his second). If I wanted to work/contribute financially, we’d probably use my income on stuff we don’t need.

The first joint checking account we had was mainly for the purpose of gifting couples at weddings. We wanted both of our names on the check.

Post # 82
Member
731 posts
Busy bee
  • Wedding: City, State

Basically we split everything 50/50. When he first moved in I made about £2000 a year more than him, since he’s had a promotion he now makes about £2000 a year more than me. But either way unless one of us were to become unemployed for whatever reason the household bills will be split 50/50, we share the home equally so we should pay the bills equally. We’re also both putting the same amount each month into a joint savings account towards the wedding but after the wedding we will still do this to keep our savings up. After that what’s left goes on our own individual bills I.e mobile phones etc… then what’s left is our own to spend as we wish. As he earns more at the moment he will pay for extra things like days out or meals that I wouldn’t be able to afford otherwise. Or if he wants to eat at the fancy restaurant near us he pays because I think it’s over priced and not great really so I won’t pay for it. He likes the atmosphere of going somewhere supposedly high class and it does nothing for me. So as that’s his treat he pays. If I want to go do something that he has no interest in the. I’ll pay for both of us so it works both ways

Post # 83
Member
10644 posts
Sugar Beekeeper
  • Wedding: January 2011

Darling Husband makes more than 10x what I do.  It’s all ‘our’ money in how we view it.  Some accounts are only in one name though.  The main chequing and simple savings accounts are in both.

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