Bank Accounts & Your S.O.

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  • LLStover09
    LLStover09 Posts: 49 Member
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    Lol, so true! I had to laugh reading your comment about letting him take care of the money you'd be digging in the cushions for change! My Husband was the same way. Initially it was hard for each of us to get used to the others spending habits! Also so true about asking permission... the only time we question what's being spent is if it's a large purchase... It has worked very well for us even at times when only one of us was working (we each did 4 years of college at different times)
  • LLStover09
    LLStover09 Posts: 49 Member
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    I can relate to this as well and agree 100%! Well put!

    [/quote]

    I think that I can relate in a lot of ways--I saved a lot of money from aged 14-22 and I felt protective over MY EARNINGS--I worked my butt off and will have the earning potential for 160k straight out of law school. BUT...and this is what I never thought would happen...NOW I DON'T CARE. I can't enjoy one quality of life while my spouse enjoys another--we are in a partnership, a union, and that means we are equals. Whatever I earn is for our family--not for myself. I love him as much as I love me--and that means I'm willing to give him all that I have.
    [/quote]
  • hughtwalker
    hughtwalker Posts: 2,213 Member
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    1. How do you and your s.o. handle bank accounts? :

    When we married my current and savings deposit accounts became our joint accounts.

    My wife still has her own current account and a savings deposit account.
    In addition we each have separate TOISAs each and an ISA each.

    The joint account pays for luxuries like Groceries, Council Community Charge, Mortgage(when we had one), House Property and Contents Insurance, Holiday Insurance and both her's and my Car fuel, insurances, services and repairs.

    Essentials such as holidays, birthday and Christmas cards and presents (other than her's) come out of her account.

    I think that covers it.

    What's mine is ours and what's her's is her's - but if I ask nicely... !

    2. Are you currently married? Yes
    Did marriage change your feelings about how you would handle money? No. We were engaged for 15 months and were setting up to buy and make a house into a home.

    3. At what point in your relationship did you decide how you would deal with bank accounts? At the start.

    4. Did you ever fight/disagree about this? No.
  • _VoV
    _VoV Posts: 1,494 Member
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    1. How do you and your s.o. handle bank accounts?

    **We have separate accounts, but both our names are on the accounts.

    2. Are you currently married? If so, did marriage change your feelings about how you would handle money?

    **Yes, particularly with large purchases. We both need to agree.

    3. At what point in your relationship did you decide how you would deal with bank accounts?

    **While we were in a live-in relationship, but engaged to be married.

    4. Did you ever fight/disagree about your this?

    **When I first became a SAHM/SAHW and earned no income, I pitched the idea of merging accounts, but I wasn't totally convinced myself about the idea, so it never happened. My husband earns the money, and pays the bills. I do most of the household shopping (food, clothes, etc), but I tend to use a credit card to make those purchases. I tend to be really frugal, so this works out. Occasionally, I bum cash off my husband and I always joke that I need $300. He usually gives it to me, but I make that cash stretch, so it doesn't happen that often.
  • Jillian1104
    Jillian1104 Posts: 119 Member
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    1. How do you and your s.o. handle bank accounts?

    We each have our own accounts, as well as a joint. We put a set amount into the joint each pay and all of our joint bills (rent, car insurance, tv/internet, etc), we pay from the joint. Things like student loans, car payments, etc.... that are just 'ours', we pay out of our own accounts.

    I would say for the most part it works out nicely.

    2. Are you currently married? If so, did marriage change your feelings about how you would handle money?

    We are married, but I wouldn't say it changed our view at all. We've been sharing accounts since we moved in together.

    3. At what point in your relationship did you decide how you would deal with bank accounts?

    When we moved in together, and started sharing expenses.

    4. Did you ever fight/disagree about your this?

    Of course-- I don't know a single couple that doesnt fight about money. Every once in a while we discuss pushing all bills over to our joint, but why mess with what works?
  • jealous_loser
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    1. How do you and your s.o. handle bank accounts?

    I have my own account and he has his. We also have a joint account and a joint credit card to pay bills, mortgage, food, really any shared expenses.

    2. Are you currently married? If so, did marriage change your feelings about how you would handle money?

    We are not married, just living together.

    3. At what point in your relationship did you decide how you would deal with bank accounts?

    We just did this a couple months ago, so about a year after moving in together unofficially, and about 3 months officially.

    4. Did you ever fight/disagree about your this?

    Nope, we are pretty laid back. He makes almost three times what I do, but I was able to pay the bills with only my salary. He would pay for other things. As we figure, it all comes out in the wash.
  • gjulie
    gjulie Posts: 391
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    we have been together 23 years married for 21 I havnt worked full time since we married I have been a carer to my mum until recently so I got carers allowance for that now I dont have that so my husbands income is our only income.Ive always handled the household accounts has worked out well if either of us needs something if we can afford it we get it.Ive certainly never had to ask for permission to take money!
  • tiffanylacourse
    tiffanylacourse Posts: 2,985 Member
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    So...I was talking to my s.o. about this yesterday and it got me curious...

    1. How do you and your s.o. handle bank accounts?

    2. Are you currently married? If so, did marriage change your feelings about how you would handle money?

    3. At what point in your relationship did you decide how you would deal with bank accounts?

    4. Did you ever fight/disagree about your this?

    1. We have a joint bank account - we have pretty much since shortly after we got together.

    2. Yes, we were married 10/1/2011 - and no, it didn't change anything. We had our joint account long before we were married.

    3. We decided very early on that whatever money either of us made was OUR money not MY money or HIS money. It works for us.

    4. This is probably the one thing we've never fought/disagreed about.

    :flowerforyou:
  • HealthyAlison
    HealthyAlison Posts: 112 Member
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    1. How do you and your s.o. handle bank accounts?

    Ours are together, but will be detangled shortly in preparation for divorce.

    2. Are you currently married? If so, did marriage change your feelings about how you would handle money?

    Married - yes. Feelings changed - No. When we got married we pretty much had no moeny. There were no feelings to change.

    3. At what point in your relationship did you decide how you would deal with bank accounts?

    We decided to combine when we were engaged with no disagreement. We moved to a new city and needed to ditch the small town banks we each had been using prior to marriage, so we combined once we were settled.

    4. Did you ever fight/disagree about your this?

    Never. We have very similar priorities and views on spending and saving. The divorce is definitely not about money.
  • felice03
    felice03 Posts: 2,732 Member
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    We recently started living together. He automatically deposits a portion of his check into my account every week. This covers all the bills, food, etc. I make sure things are paid. He keeps a portion for himself for his weekly expenses (gas, work lunches, etc).
  • IndigoVA
    IndigoVA Posts: 164 Member
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    My husband and I have been together for 12 years (married for 9 of those years), and we have never had a shared bank account. Our house and our cars are in both of our names, but when we pay our mortgage each month, we write two separate checks. We split all of our other household expenses down the middle. Take turns buying the groceries, alternate paying preschool tuition and other child-related expenses.

    It has worked out really well for us. We almost never argue about money.
  • digitalbill
    digitalbill Posts: 1,410 Member
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    We have two joint accounts.
    The first one (the one I handle) is our "static" account. Any bills that are the same every month comes out of this account. Mortgage, insurance, ect. Basically, if my static bills are $2,000 per month, that is what goes into this account every month and that is what comes out of the account every month.

    The other account is for dynamic bills and living. The remainder of my paycheck and my wifes entire income goes into that account. Bills such as water, eletric, ect come out of there and my wife manages that one.
  • fcp1234
    fcp1234 Posts: 1,098 Member
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    1. How do you and your s.o. handle bank accounts?

    We have join accounts for everything, checking, savings, credit cards etc..

    2. Are you currently married? If so, did marriage change your feelings about how you would handle money?

    We have been married for 4 years.

    3. At what point in your relationship did you decide how you would deal with bank accounts?

    We used to have separate accounts when we first moved in and were paying different bills, it got to be too confusing, so we decided to open join accounts, have direct deposits and pay all bills and savings from that. This was after we were together for around 3 years and 6 months after moving in together.


    4. Did you ever fight/disagree about your this?

    We have never argued about anything that has to do with money, bank accounts and other financial stuff.
  • dansls1
    dansls1 Posts: 309 Member
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    Joint accounts. Married for 8 years. Were together for 7 before, had separate accounts until we got married and she took my name (although she was on a credit card and phone bill before). And no, we do not argue about money and finances - other things, but not money.
  • hbrittingham
    hbrittingham Posts: 2,518 Member
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    My husband and I have been together for 22+ years and married for 20+ of them. We've shared the bank accounts from the very beginning. We make all spending decisions together and have a budget that we follow.
  • hughtwalker
    hughtwalker Posts: 2,213 Member
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    I should perhaps have mentioned that we have been married 36 years since April 3rd 1976 and that my account didn't become joint account until after the wedding (banks wouldn't allow two unmarried people to share an account in those far off ancient times).
  • gonnasee33
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    So...I was talking to my s.o. about this yesterday and it got me curious...

    1. How do you and your s.o. handle bank accounts?
    one Income family ... one account .. I work and she does the budget , pays the bills and hands me my allowance ;-D

    2. Are you currently married? If so, did marriage change your feelings about how you would handle money?
    Marriage didnt change our mindset so much as the having kids did ..

    3. At what point in your relationship did you decide how you would deal with bank accounts?
    we had our OWN money till the day we said "I do" then it became "our" money

    4. Did you ever fight/disagree about your this?
    the biggest time we fight over it is when i spend and not tell her about it ..
  • k8blujay2
    k8blujay2 Posts: 4,941 Member
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    So...I was talking to my s.o. about this yesterday and it got me curious...

    1. How do you and your s.o. handle bank accounts?

    2. Are you currently married? If so, did marriage change your feelings about how you would handle money?

    3. At what point in your relationship did you decide how you would deal with bank accounts?

    4. Did you ever fight/disagree about your this?

    1. We share the bank accounts... all except our credit cards... and he manages them.
    2. Yes, and not really.
    3. I honestly assumed he would take care of the majority of our accounts and finances... mostly because he is WAY better at it than I am. By a lot. And like anouther poster said, it's not your money/my money... it's OUR money. It all goes to the common goal of making our family comfortable.
    4. No. Mostly because even though he "handles" the accounts and we share an account, we are very open about our finances. The only time it's awkward is when I am "asking" for money... though it's not really "asking" for it as much as saying I need money to be budgeted for xyz reasons so we don't go overdrawn.