Clicky poll: how do you/DH share finances?

MissLMS · May 2010

DH and I are considering reorganizing the way we do our finances. We both agree that what we are doing isn't working, but we do not agree on where we should go from here as far as how our accounts should be set up.

I'm curious. How do you have finances organized in your family?

[Poll]

sdkrlm · May 2010

We have a joint account and then I have my own account. Robert doesn't spend like any money on himself but likes to bicker about what I spend money on. It's just easier to keep my personal expenses separate from his line of sight so I don't have to hear him complain. (not that my spending is an issue - I just get tired of his constant questioning of EVERY.THING)

RachelJohnson · May 2010

We have one joint account. I can't imagine trying to keep up with several accounts, but that's just me. Numbers aren't my thing. ;o) I make sure all of the bills get paid, but dh is in charge of the budget (ex: he keeps up with how much we spend on groceries, gas, etc. so we don't go over our alloted budget). It works for us.

Soon2BMrsWiley · May 2010

We have the main account and then each have a personal account. We basically just have it so we can buy each other's gifts without the other knowing. Other than around Christmas/birthdays/anniversaries, we only keep around 50 bucks in our personal accounts.

SeasideBride06 · May 2010

Soon2BMrsWiley:
We have the main account and then each have a personal account. We basically just have it so we can buy each other's gifts without the other knowing. Other than around Christmas/birthdays/anniversaries, we only keep around 50 bucks in our personal accounts.

We each have our own credit card for this reason. We have a joint credit card that we pay off every month (for reward points) and then we each have our own that we use to buy gifts with so that the other one does not see it.

tippykins · May 2010

we actually have 2 joint accts. my check goes into 1, and dh's check into the other. i pay all of the bills online out of the acct that holds my check, and the acct that holds dh's check is used for savings, discretionary spending, contributing to IRA, and paying extra towards loans.

we didn't intend to have 2 separate joint accts but back home we had BoA, and there isn't one up here, and i didn't want to change bank. so we just kept that one, and opened another acct at our local CU. it's actually worked out great. i take care of the finances and paying the bills. and both of us are on the same page re: financial goals, so we've never had any issues with not having enough in an acct.

now my parents have always maintained 2 separate accts. and that's worked for them so i guess it just depends on the couple.

hth!

starsmaycollide · May 2010

All our accounts are joint, it just seems simpler that way.

MannaKay · May 2010

Just a suggestion... DH and I are taking the Dave Ramsey Financial Peace University class. It is fantastic!!! I really see where this is going to change our future. It is about paying off debit and things, but it is also mostly about budgeting and how to do a budget. I know it sounds simple, but it is much more detailed and indepth than I thought. DH and I are both "Free Spirits" so we knew we had to do something to get a hold of our spending. It also shows you how to plan for the future. I would recommend it to anyone! Good luck!

MissLMS · May 2010

Thanks everyone for the suggestions/input.

DH and I have our own separate checking accounts and then a joint savings. I give DH a certain amount each month for the bills, but then I also pay some bills on my own and we both pay for food, gas, etc.

It's worked until Kennedy was born. Lately, I'm getting tired of him "complaining" about how I don't pay for anything when I contribute as much money to the bills as he does. But, he does not consider anything as "our" money. One reason he does not want to have a joint account is because he does not want me to have access to his money and he does not feel that he should have to pay for "my" financial aid from when I was in grad school. Seriously?!?!

We've taken the Dave Ramsey course before and it helped us pay off all but one of our credit cards. We feel like we are doing ok as far as debt, but we really have to get ahold of our spending. I feel like money is going out the window and honestly, DH and I have no accountability with the way we have our accounts set up now.

sdkrlm · May 2010

when Robert and I were living together before we got married - we did our budget - and then based on our income ratio, that's how much I transferred t him and then he paid the bills. I think I only made like 30% of our total income so instead of me paying "half" I paid 30% of the household costs

Until recently, I paid my own student loans and my car note (he paid his).

Now our cars are both paid off and I put all but my fun money into our joint account so my SL is paid from that.

soon2Bmrs.AGEE · May 2010

We have joint accounts. He has a work/personal credit card (family business) and I have a credit card. We also have a joint credit card that doesn't get used. We just naturally joined our accounts when we got married.

The "your student loans" things would bother me, to be honest. I have student loans from my BS. We both had some debt when we got married but it became OUR debt not mine or his. We have worked together to pay it all off too minus my loan that we are still paying.

Money is a tough spot for a lot of married couples. I don't think Matt and I see completely eye to eye. Like yall, we are both spenders and it gets out of hand sometimes. I hope yall can figure out what works best for both of you.

kc0721 · May 2010

DH and I have our seperate accounts, however our situation is a little different than most. DH and I own a business, therefore most of his stuff flows through the business. I have a checking account and put my check in it, he then gives me his portion of what's owed on the bills and I put that in my account and pay bills out of my account. We then use both accounts, mine and the business to do other things, i.e groceries, meals, etc.

Our financial situation needs a total overhaul too. When the baby gets here the way we're doing it is going to be very confusing, therefore, I'm thinking something different has to happen. If not, then DH and I will have some serious issues about money and I'd rather stop any issues before they start.

GL Lydia, DH and I have dealt with the same issues.

star21gazer · May 2010

All our accounts are joint...have been from day one of our marriage. I'm kinda old school in the my money/your money/our money situation. We both feel like it's our money. We took Dave too, and Wes is the free spirit, and I'm the nerd. Our agreement is on whatever spending that up to 100 dollars is free game we don't have to discuss it, but after 100 then we discuss it with each other. (the only exception to this is groceries/toiletries...it's mainly centered on if one particular item costs more than that). This works for us..that way one of us (mainly me) can't have a heart attack when the other comes home having spent a large amount of money.

mrssamuels2b · May 2010

We own a business too so our situation is weird...we have a joint account, he has a business account and I have a separate account...I have access to all accounts and pretty much pay what needs to be paid accordingly...I know there is a better way to do things but I'm too lazy to think about it right now...

12106mrsmun · May 2010

We have 2 joint accounts....his, which pays all the bills and buys most of the groceries, etc....and mine, which is my "spending" money. I obviously have access to both accounts and if I need to buy lots of groceries, it's coming out of his account, not mine. It's kind of a "what's yours is mine and what's mine is mine situation.

Personally, I think it's crap that he thinks that they're "your" student loans.

hamillm · May 2010

I know I'm late on the comments, but we have a joint account that pays for everything, and seperate credit cards for gifts, etc. DH has tons more student loans than me...to be quite honest, if we didn't have "his" loans to pay back, I wouldn't have to work.

But, I knew when I married him that he came with that debt, so it's "our" debt to me now.

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