Married Couples : Finances Split or Combined?
- Thread starter Rifte
- Start date
Soldato
It works pretty well and means we both recieve our salaries in our personal accounts and then have our standing orders setup for the joint.that sounds like quite a good idea, keep it balanced/equal even though you're maintaining separate accounts
Man of Honour
I am 12, what is this?
But it is her money bought by her own £2, you don't have any rights to it if you want to play the game of this is mine and that is yours.
My wife earns way more than me but once again you are obsessed with that is mine and that is yours.
It is our money.
similar - 15 years married, 2 kids, everything into a single joint account, everything out the same account. Simple and easy, never once had any money issues/discussions/falling outs over it and for me it's the simplest and easiest way to work things.
Soldato
We use a single current account, it keeps things simple.
I've been married for 36 years and I keep letting her know that "I've never seen my wage packet".
I've never opened my wage slip because she does it.
I heard a married couple the other day and one said "If you want to go on holiday you can take it out of your money"
I don't get that.
Is this why so many marriages fail?
My mum and Dad have been married coming up to 50 years...
My Mum buys the Holidays with her money...They have been all around the world...In fact I don't think my dad has ever bought a holiday or even booked one....
Man of Honour
Mrs Sexy has just looked at this sentence in amazement.
Both of us don't get it because we have always had 'our money'.
Horses for courses.
Been together for 10 years, married for 5 years and we have a son who will be 2 in July.
We both earnt fairly similar salaries for a long time, my wife had a year maternity leave, and has since gone back to work part time, so there is a greater disparity now between our individual incomes.
For a long time we just used separate current accounts, and sorted the bills out between us which worked fine, we had a joint account but only really used it for saving, to be completely honest it was simply down to laziness (particularly on my part) in that I couldn’t be bothered to move to the joint account and endure the hassle of changing direct debits etc. etc.
Once our son came along, it made so much more sense to just have the one joint account, my wife’s maternity pay was a pittance, and I didn’t want her having to ask me for an “allowance” each month, it just didn’t feel right.
Now, both salaries go into our joint account, all bills come out of that account and it’s so much simpler to manage our overall finance, manage savings, disposable income etc. etc. It also makes things like mortgage applications so much more straight forward. I can’t now imagine going back to separate accounts.
We both earnt fairly similar salaries for a long time, my wife had a year maternity leave, and has since gone back to work part time, so there is a greater disparity now between our individual incomes.
For a long time we just used separate current accounts, and sorted the bills out between us which worked fine, we had a joint account but only really used it for saving, to be completely honest it was simply down to laziness (particularly on my part) in that I couldn’t be bothered to move to the joint account and endure the hassle of changing direct debits etc. etc.
Once our son came along, it made so much more sense to just have the one joint account, my wife’s maternity pay was a pittance, and I didn’t want her having to ask me for an “allowance” each month, it just didn’t feel right.
Now, both salaries go into our joint account, all bills come out of that account and it’s so much simpler to manage our overall finance, manage savings, disposable income etc. etc. It also makes things like mortgage applications so much more straight forward. I can’t now imagine going back to separate accounts.
Just do what works for you. I find posts like that of the OP interesting as it seems they seem to think that people who don't have a joint account have 'trust' issues. To be honest it comes across as the opposite, if your bank account is so integral to your perceived state of your relationship then maybe you are the one with the issues.
QFT.
Deleted member 651465
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Deleted member 651465
I will be bias, but this is the reason why I like my method. I personally don't get the logic of "personal" accounts.
- Both wages in one account gives us both a better quality of life (I'd rather we used 50% of our combined wage than 90% of our own)
- Bills and savings being handled by standing orders mean we both never have to worry about paying bills or saving.
- I can look on the banking website or ATM and see exactly how much is left to spend.
Deleted member 66701
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Deleted member 66701
Both work full time, 2 kids. Just have a joint account. Not had any issues with it.
Apart from having three kids, we're exactly the same. I suppose it helps that I have to persuade the wife to spend money though!
I think the right way of doing it is what works for the couple in question.
Soldato
same as us..but we have managed 24 years marriage and 27 years living together...so it obviously works for us
Man of Honour
That said, I think having your own account for your own hobbies is probably sensible and a good way of avoiding arguments!
I do the "accounts" once a month and reconcile everything to make sure that we are either on or under budget, or so that I can redistribute money accordingly
I do understand the independent accounts too though - it's not a matter of trust or not being a responsible adult, but if I'm doing the accounts and my wife buys something for me I don't want to know how much she has spent on me - it sort of spoils the charm of it a little. I guess to get around that is you still have a personal account and transfer an allowance to yourself and your other half as spending money.
Ultimately there is no right or wrong for this, and no one solution is better than the next, and nothing to do with trust - it's what works for the couples. Everyone is different.
I do the "accounts" once a month and reconcile everything to make sure that we are either on or under budget, or so that I can redistribute money accordingly
I do understand the independent accounts too though - it's not a matter of trust or not being a responsible adult, but if I'm doing the accounts and my wife buys something for me I don't want to know how much she has spent on me - it sort of spoils the charm of it a little. I guess to get around that is you still have a personal account and transfer an allowance to yourself and your other half as spending money.
Ultimately there is no right or wrong for this, and no one solution is better than the next, and nothing to do with trust - it's what works for the couples. Everyone is different.
We both have separate bank accounts that our salaries go into and a joint account for bills.
We pay different amounts into the joint account that are calculated so that we each have roughly the same left after paying bills. That way if one wants to spend their money they can while the other can save if they want without feeling the other is spending their savings.
It works out that I pay just over double what my wife does but I feel that's fair as she has to put up with me
We pay different amounts into the joint account that are calculated so that we each have roughly the same left after paying bills. That way if one wants to spend their money they can while the other can save if they want without feeling the other is spending their savings.
It works out that I pay just over double what my wife does but I feel that's fair as she has to put up with me
They have "Our" Money....aswell
My mum has a bank account for Holidays, House furnishings....Her pension etc...pays for holidays....My Dad has an account for Cars/Electronics stuff... etc....
They have a joint account for everything else
They are still madly in love and often snog in front of me to wind me up...
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Try reading the thread?
It was responce to this post
https://forums.overclockers.co.uk/posts/30579985
He refers to another couple...I was doing the same....another couple just happened to be my parents.
Soldato
Same here.
We earn similar ish amounts so not an issue. I'm not bothered if I had to pay in more mind you.
*were not married either
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