Do you keep separate accounts being married?
- Thread starter ZZman
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Originally Posted By: Bud
Been married 45 years and our accounts have always been joint. I have always handled the finances.
Same, but Momma's the CFO here, hate dealing with money and all the [censored] that goes with it, have my ATM card and that's good enough for me.
Been married 45 years and our accounts have always been joint. I have always handled the finances.
Same, but Momma's the CFO here, hate dealing with money and all the [censored] that goes with it, have my ATM card and that's good enough for me.
Originally Posted By: Bud
Been married 45 years and our accounts have always been joint. I have always handled the finances.
Over 47 years here.
1 account, joint ownership ... Mama Bear is a bookkeeper since '65. No problems
Been married 45 years and our accounts have always been joint. I have always handled the finances.
Over 47 years here.
1 account, joint ownership ... Mama Bear is a bookkeeper since '65. No problems
We have separate accounts. Admittedly, my wife manages money much better than me, so bills all get paid out of her account. On pay day I just keep what I need in my account for day to day expenses and transfer the rest to her account.
Patman
Staff member
My wife and I have separate accounts, mainly because we only met 6 years ago and already had established stuff with our own banks, and things like direct deposit for our jobs, from the government at tax time, etc. It has just been easier to keep things going this way. When we retire in 2022, we will just consolodate everything over to one bank at that time.
Got our first joint account after 25+ years this year, as we got a mortgage, and it's heaps easier if I croak that that's managed from a joint account.
We've had separate accounts that I manage, wife's got accounts that her pay goes into, and she slides some across weekly for the mortgage.
Her tax rate is lower than mine, so the savings are in hers...mine are in the mortgage offset. (see point 1)
We've had separate accounts that I manage, wife's got accounts that her pay goes into, and she slides some across weekly for the mortgage.
Her tax rate is lower than mine, so the savings are in hers...mine are in the mortgage offset. (see point 1)
We have one account which my wife looks after, paying the bills etc. I get an allowance which covers just more than my weekly needs. If I buy oil for my motorcycle, it comes from my account, if I buy oil for the lawnmower it comes out of the household account...well, no, I end up paying for oil and fuel for the lawnmower, but shouldn't. My wife has her own business account (and name, no taking my name stuff) which she manages too. I'm better with money, because I just don't spend it, but having dyscalculia I don't grasp the obvious detail of how it works, so someone who passed some maths exams is a better choice.
OVERKILL
$100 Site Donor 2021
My wife and I shared one account for bills and the like, but we have separate credit cards and I have a US money account, Savings Account, TFSA, plus investments that she doesn't have access to. I would have no problem if she did the same (she is aware of all of them) but she's never been inclined to do so.
We have a joint checking and saving where the bulk of our money is kept. For bills, groceries, family fun, emergency fund, etc. However, we both have a separate checking for petty cash purchases.
My question is, why does anyone want to know this? Why ask these questions related to finances? Each person's finances is his own business, and it's not something that anyone else needs to know.
Many people are so concerned with money, like it's what life is all about. They act like it's the most important thing in life, and they want to know about other people's money and what they do for a living. And what's sad is that many people really do look down on others based on these things. It's a shame.
Many people are so concerned with money, like it's what life is all about. They act like it's the most important thing in life, and they want to know about other people's money and what they do for a living. And what's sad is that many people really do look down on others based on these things. It's a shame.
You're right, money is not everything.
But with a 50% divorce rate, some people have money in the back of their mind.
But with a 50% divorce rate, some people have money in the back of their mind.
Originally Posted By: Mr Nice
You're right, money is not everything.
But with a 50% divorce rate, some people have money in the back of their mind.
And some seem to feel that as the primary breadwinner (in a major way), that they are entitled to marital infidelity.
Placing the marriage at perpetual risk, while trying to ensure that when it DOES happen the money is kept on their side demonstrates exactly why it should be a "split and get half".
You're right, money is not everything.
But with a 50% divorce rate, some people have money in the back of their mind.
And some seem to feel that as the primary breadwinner (in a major way), that they are entitled to marital infidelity.
Placing the marriage at perpetual risk, while trying to ensure that when it DOES happen the money is kept on their side demonstrates exactly why it should be a "split and get half".
Originally Posted By: ZZman
My wife and I throw everything in the same pot and always have. Many people I know keep separate savings or checking accounts or split bills a certain way.
What is your method?
Liz and I have separate accounts (though each has the other's name on them, for emergencies), with everything as separate as possible, despite 21 years of marriage. We have a joint account for auto-debited bills, though I'm not sure if we even need that anymore, with no mortgage. (Note to self: ask Liz, because I don't remember.)
My wife and I throw everything in the same pot and always have. Many people I know keep separate savings or checking accounts or split bills a certain way.
What is your method?
Liz and I have separate accounts (though each has the other's name on them, for emergencies), with everything as separate as possible, despite 21 years of marriage. We have a joint account for auto-debited bills, though I'm not sure if we even need that anymore, with no mortgage. (Note to self: ask Liz, because I don't remember.)
Separate accounts. It works for some people better than others. It's a choice that's mainly based on the individual.
Wife and I keep separate retirement accounts. We send the same amount of money to each, relatively speaking, and follow our own philosophies as a diversification technique.
Otherwise its all communal, though she doesn't peek at the numbers much as I manage it.
Otherwise its all communal, though she doesn't peek at the numbers much as I manage it.
No way. A marriage is a marriage and you become one. We both work and get paid into the same account. I never cared who made more either. Money goes in, money comes out. It's a partnership. I never understood the multiple accounts. It's like being married without being married.
ls1mike
$50 Site Donor 2024
We have joint accounts. I have a slush fund for car stuff.
I figure if it doesn't workout I will still be paying anyway.
I figure if it doesn't workout I will still be paying anyway.
Separate accounts for married people seems odd to me. If I didn't trust my wife enough to have a shared account, I can't imagine marrying her in the first place.
But if it works for others, that's great.
But if it works for others, that's great.
We use a combined accoubt to pay bills. My wife has he her account and I have mine.
Not sure if age influences but together 15 years and age 45. Married 12 years, same combined account created first 6 months of relationship when she moved in.
Not sure if age influences but together 15 years and age 45. Married 12 years, same combined account created first 6 months of relationship when she moved in.
We both work and put our money in the same account which is used for all bills.
If we didn't trust each other to keep our individual spending habits roughly in line with each other, we would have had to divorce. I can't see two separate financial entities each paying half of joint bills being workable, but obviously there are those couples that do see this as sustainable.
If we didn't trust each other to keep our individual spending habits roughly in line with each other, we would have had to divorce. I can't see two separate financial entities each paying half of joint bills being workable, but obviously there are those couples that do see this as sustainable.
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