(Closed) The Waiting List 06/18/2018

posted 1 year ago in Waiting
Post # 3
Member
66 posts
Worker bee
  • Wedding: May 2020 - Covington, KY

Thanks for adding me to the list!

This weeks question: Currently, my boyfriend and I have a “semi-combined” finances. We have a joint account for our joint bills and expenses (rent, utilities, renters insurance, etc). We still have our own account for personal bills and debts (my car payments and other car expenses separately from his car playments and his debts payments). Eventually, we will combine our finances when we get married (and when his debt is paid off).

Post # 5
Member
102 posts
Blushing bee

I think we will have a combination of separate and combined finances. For me I feel like a little bit of financial independance can only be good 🙂

Post # 6
Member
65 posts
Worker bee

We won’t live together prior to marriage but the plan is to combine finances. We’ll have a joint account checking and savings, do the full 401k contribution, and have an investment account. Will also probably choose one amex and visa and close our other accounts. 

 

We we are both high earners so there’s less of a concern of spending money we “didn’t earn” individually. 

 

We will, however, also have a prenuptial agreement. 

Post # 7
Member
30 posts
Newbee

You can take me off the list! He proposed Friday while on a double date with our best friends! He was playing the song from a show we all watch together that he’s been jokingly saying he was going to propose to for months. 

Post # 8
Member
1904 posts
Buzzing bee
  • Wedding: March 2019

pnd2018 :  Congratulations!!

 

As for finances, we have worked out to do a mixture as well. We will each put a certain % (I make more, so will add more) into a savings account for travel, future house, etc. We will split the mortagage, cars (we each owe about the same amount) and bills 50/50, then we will each have our own spending $$ account. Mine will be a little lower until I pay off my student loans, only a couple of years away. But I agree that we each need our own spending money! No comments on our own amazon boxes that show up on the doorstep almost daily! 

Post # 10
Member
247 posts
Helper bee
  • Wedding: November 2019 - Queens, NY

pnd2018 :  omg congrats!!

 

I’m not 100% sure how we’ll do finances, but my personal ideal would be a large joint account that we put most of our money into for things like groceries, house stuff, pets, kids, etc. then we could each have smaller accounts that we can use at our own discretion and to pay our personal bills (namely my student loans, which I have no desire to have him help with).

We’ve started touching on this subject a little bit, as he recently opened up his accounts to show me his assets and he knows my assets are largely attached to my torso because of circumstances.

Post # 11
Member
361 posts
Helper bee

We have had partially combined finances for a year now. We have a shared account where we both deposit an agreed upon amount of money from each paycheck. We also have a savings account connected to the debit card where we each put aside money for vacations or big purchases. We used it this year to save money for our trip this summer. I’m in charge of paying bills from the shared account, and we both use our on individual accounts to pay car payments, my gym membership, clothes shopping, etc. We have no student loans, which is nice. 

I doubt we’ll combine fully, at least for a while, as he is a little careless and frequently forgets to pay off his credit card, and my credit score is awesome, so until he can bring his up within 50 points of me and hold it there, I have no interest in fully combining.

Post # 12
Member
353 posts
Helper bee

I think we will keep my loans/our investment accounts seperate but joint checking. 

Post # 13
Member
518 posts
Busy bee

Congrats to the newly engaged bees!

I had joint finances with my ex-husband and it was okay, but my Boyfriend or Best Friend is more comfortable with partially joined finances for certain reasons. 

Post # 14
Member
373 posts
Helper bee
  • Wedding: February 2020 - Windermere, Cumbria

DaniGirl03 :  SO and I rent, and whilst we don’t have a joint bank account we already share finances, depending on certain factors. E.g. We are moving soon –  SO earns more than me and has more savings, so he is paying the deposit but I am paying the first month of rent. I pay Seven’s vet bills as she was “my cat first” but SO would help out if I couldn’t afford it because of course he loves her too. We share groceries etc.

Post # 15
Member
136 posts
Blushing bee
  • Wedding: August 2020

Thank-you for adding me to the list! 🙂

Regarding your question, my SO and I have a joint bank account. Some may have mixed reviews regarding this; however, important notes to make mention of are that my SO is a financial advisor who actively follows our investments on a daily basis and we further review our finances together on a weekly basis. 🙂

We have separate debit accounts that we add to on a weekly basis – either party can choose to spend their money on whatever they please or can choose to save their money. However, those two sepearate accounts are linked to our joint account and can be accessed by either party at any time if needed.

A high level of trust is required when organizing your finances this way.

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