Archived

This topic is now archived and is closed to further replies.

For the married folks: How do you all manage bank accounts?

42 posts in this topic

Posted · Report post

I'm not married, or even thinking about it right now, I'm just curious. Do you all have joint accounts, separate, or both (3)?

Share this post


Link to post
Share on other sites

Posted · Report post

I have separate because my wife still hasn't learned how to balance a check book. I pay for everything but the kids daycare and groceries.

Share this post


Link to post
Share on other sites

Posted · Report post

Joint. The misses handles the paperwork.

Share this post


Link to post
Share on other sites

Posted · Report post

Joint but soon I'm changing that. Have a bill paying acct and we each have our own. Simplify what I have to manage.

Share this post


Link to post
Share on other sites

Posted · Report post

[quote name='pstall' timestamp='1360525059' post='2131269']
Joint but soon I'm changing that. Have a bill paying acct and we each have our own. Simplify what I have to manage.
[/quote]

This, plus an emergency fund and a general savings acct. Sounds more complicated than it is.

Share this post


Link to post
Share on other sites

Posted · Report post

Joint. My fiancé handles everything but I do monitor what she's doing, she knows it and she's fine with it.

Share this post


Link to post
Share on other sites

Posted · Report post

getting that emergency fund where it needs to be can be tough, but, once you do, it takes a load off.

Share this post


Link to post
Share on other sites

Posted · Report post

Joint account and the wife... She does all the bill paying and we make joint decisions about purchases. She's so tight with money she squeaks so she keeps us straight.

We have a budget and usually do pretty good sticking to it.

Share this post


Link to post
Share on other sites

Posted · Report post

Separate and not equal.

Share this post


Link to post
Share on other sites

Posted · Report post

Completely seperate with each of us having visibility into the other's account if we need to, but the need for that rarely arises.

Basically we divide the joint bills up based on our salaries, and after that she can spend her money any way she feels like and i can do the same.

Will never have joint accounts as i won't be put on an allowance of my own money.

Share this post


Link to post
Share on other sites

Posted · Report post

Same as logic 1977.

We have seperate, albeit linked accounts. Either one of us can look at the other's account. She has a few small bills to pay, plus the majority of the household expenses (clothes, food, tp etc...). I pay the big bills (mortgage, car, electicity etc...). We contribute to a joint savings account/emergency fund.

Share this post


Link to post
Share on other sites

Posted · Report post

[quote name='SCP' timestamp='1360524636' post='2131253']
I have separate because my wife still hasn't learned how to balance a check book. I pay for everything but the kids daycare and groceries.
[/quote]


People actually balance checkbooks these days? ;)

I just use bill pay, and all the bills come out of my pay on payday. That includes savings. Everythign left is weekly spending and expense money. Anything left from that before the next payday goes into savings or paying off the little bit of credit card debt we have left. I don't even have a checkbook or write any purchases down.

Share this post


Link to post
Share on other sites

Posted · Report post

Joint and I have a credit union acct. separate credit cards

Share this post


Link to post
Share on other sites

Posted · Report post

[quote name='Davidson Deac II' timestamp='1360548724' post='2131621']


People actually balance checkbooks these days? ;)


[/quote]

WTH is a check book these days?
Nothing more annoying than being stuck behind some dinasour at the grocery store who pulls out their check book and starts writing a check after the checker is all done and waiting for payment.
Slide the damned card idiot.

And joint, everything is right at your fingertips 24/7 on your computer and on your droid.
Banking by phone ftw..

Share this post


Link to post
Share on other sites

Posted · Report post

[quote name='logic1977' timestamp='1360537431' post='2131469']
Completely seperate with each of us having visibility into the other's account if we need to, but the need for that rarely arises.

Basically we divide the joint bills up based on our salaries, and after that she can spend her money any way she feels like and i can do the same.

Will never have joint accounts as i won't be put on an allowance of my own money.
[/quote]
[quote name='Davidson Deac II' timestamp='1360548414' post='2131616']
Same as logic 1977.

We have seperate, albeit linked accounts. Either one of us can look at the other's account. She has a few small bills to pay, plus the majority of the household expenses (clothes, food, tp etc...). I pay the big bills (mortgage, car, electicity etc...). We contribute to a joint savings account/emergency fund.
[/quote]

Husband...is that you?? :D

We do it just like this...separate accts..He transfers me money to pay the bills out of my account....then I have my money, and he has his

Share this post


Link to post
Share on other sites

Posted · Report post

Joint everything. If I couldn't trust my wife to be completely responsible with all of our money then I would find a different spouse.

Share this post


Link to post
Share on other sites

Posted · Report post

It takes every red cent we have every month to make ends meet, so separate bank accounts are a luxury of sorts.

We're joint on my wife's account. I have my own account, but only because it is a hassle to add her to it. She can see it any time she wants, in all of its empty glory.

Share this post


Link to post
Share on other sites

Posted · Report post

Joint.

Not hard to keep track of it when there's not much of it. Reminds me of something funny I heard the other day. "There's too much month at the end of my money"

Share this post


Link to post
Share on other sites

Posted · Report post

[quote name='Inimicus' timestamp='1360592500' post='2131834']
Joint everything. If I couldn't trust my wife to be completely responsible with all of our money then I would find a different spouse.
[/quote]

In our situation its got nothing to do with trust why we don't have joint accounts. We were together for 4 years before we got married..what worked for us with bills, worked for us..so we didn't change it. We've now been together for almost 13 years and keeping it separate still works. I do better with money when it's on a debit card..he prefers cash. I know exactly what's being spent b/c I'm the only one swiping on the account. We honestly never really argue or fight..but when we do money is never one of those things.

Share this post


Link to post
Share on other sites

Posted · Report post

I'm glad this question was asked. The fiancee and I have been discussing this recently. We have a joint savings account already but are discussing what to do with checking. She wants to combine them and I'd like to keep them separate. I guess my only reason is so that we keep our discretionary spending on one another separate (meaning gifts). For those of you with joint checking accounts, how do you keep birthday gifts, etc a secret? Separate credit cards?

Share this post


Link to post
Share on other sites

Posted · Report post

[quote name='Mrs Pantherfan' timestamp='1360592901' post='2131840']
In our situation its got nothing to do with trust why we don't have joint accounts. We were together for 4 years before we got married..what worked for us with bills, worked for us..so we didn't change it. We've now been together for almost 13 years and keeping it separate still works. I do better with money when it's on a debit card..he prefers cash. I know exactly what's being spent b/c I'm the only one swiping on the account. We honestly never really argue or fight..but when we do money is never one of those things.
[/quote]


I hope that I didn't offend. I actually had a much longer post but erased it for fear I would step on toes. I know it works for some people, I just couldn't do it.

For me joint finances is one of the cornerstones of very successful 25 year marriage.


We tried separating accounts once years ago and it had two major flaws for us.

1. She had access to my account and vice-verse so when she was light one month and wanted some thing I just gave her the cash and she did the same for me when the situation was reversed. I wasn't going to make her go without something she wanted when I had extra so the overhead of two accounts became more trouble than it was worth.

2. There was always a tension around money and how to divide it up. % of household earnings? 50/50? and then who gets what bills? Does the person paying the natural gas bill get extra in the winter and the person with the electric get more in the summer? How do you deal with an emergency when one person has been very frugal and can pay for repairs to the car that were unbudgeted? Do they get punished for not spending? Crap like that kept popping up and it was causing more disagreements than it was solving so we ditched it.

Share this post


Link to post
Share on other sites

Posted · Report post

We have separate accounts just because we lived together for two years first and it was a pain to link everything after we got married. She writes me a check at the beginning of every month for her car and a portion of the mortgage. She buys the groceries and vet bills, and I pay for everything else.

Haven't had an issue yet.

Share this post


Link to post
Share on other sites

Posted · Report post

like...and actual check? out of that checkbook thingie?? :)

Share this post


Link to post
Share on other sites

Posted · Report post

She pays in racoon pelts and Iroquois wampum.

Share this post


Link to post
Share on other sites

Posted · Report post

[quote name='mr beauxjangles' timestamp='1360593643' post='2131850']
I'm glad this question was asked. The fiancee and I have been discussing this recently. We have a joint savings account already but are discussing what to do with checking. She wants to combine them and I'd like to keep them separate. I guess my only reason is so that we keep our discretionary spending on one another separate (meaning gifts). For those of you with joint checking accounts, how do you keep birthday gifts, etc a secret? Separate credit cards?
[/quote]

Yeap. We have our own credit cards for stuff like eating out with coworkers, car maintenance, etc. And we have a joint credit card for groceries and home goods. I'd buy something for her and she'd have no clue.

Share this post


Link to post
Share on other sites