Post # 32
@jdhall89: Fiance makes 2-3 times what I do. This is how we break it down:
All of our paychecks are deposited into the joint account, which is where all of our rent, groceries, bills, date night expenses, etc. come from. We transfer some money each month to the wedding fund. Post-wedding we will transfer money each month into a short-term savings (like a mini vacation or a grill for the porch or whatever) and some to long-term savings (house). Then we transfer an equal dollar amount (NOT a percent of paycheck – we each have the same amount of spending money) to each person’s individual account. This is where money for my lattes, his golf, my makeup, his eating lunch out, etc comes from. If we don’t do it together and it doesn’t go in the house, it comes from our personal accounts. This is also where gifts come from and we bump up the amount we transfer when it’s gift-giving time.
Post # 33
I make way more now, but we just have “our” money. Bills get paid, we each have our own fun money and anything over a specific amount has to be okayed by both of us.We didnt live together before we got married though so no help on before or if you dont combine finances.
Post # 34
@jdhall89: So H and I had discussed financial plans in all the stages of our relaitonship.
Dating – we lived sparately. I was working 30 hours/week at my salaried job AND going to grad school. He made 3x as much. He pretty much paid for all our restaurant meals out, all our fun trips, etc. I, in turn, would make a lot of homecooked meals and invite him over or bring it to his house to eat. That worked for my budget and he was grateful for good food LOL. [If we had lived together, he would have covered the mortgage, I would have split the utils/food with him. We already discussed it.]
Engaged – I moved into his house. We originally were going to keep things separate, but we eneded up merging all our money soon after I paid off all my student loans. Then neither of us had any debt – just the mortgage. That way we were able to save for the wedding and create a nice savings together.
Married – Pretty much the same plan as engaged. All the money is pooled. He makes 2x a much.
So in the end, I guess it’s amixture of both commitment level and income discrepancies until we got engaged/married – then it was all the same.
Post # 35
We view it as all our money, regardless of the name on the account. We still need to figure out what to do as the government doesn’t see it the same way when it comes to taxes (hence my attribution thread).
Commitment does matter, when we were just dating we didn’t have joint accounts at all. We were both students though, so neither of us had a big paycheque.