Spouse makes significantly more income, how do you handle it?

[Anonymous]

All goes in one account. Your are married, not roommates.

[Anonymous]

We set common goals and targets and work toward them. In our case, my husband ends up paying most of the expenses, and I do most of the savings, or the targeted savings. So there's money to pay for camps (I set aside a some each pay period for camps), and there's money growing in our emergency fund, investment, etc.

We each have a similar level fo "fun money" that pays for lunches, clothes, whatever. But it's all fungible. We discuss big purchases together. We spend more freely than I would like and less freely than he would like, so we're probably ok in the middle.

Currently saving for a beach house downpayment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It all belongs to both of us. One big pot that we each have equal say over.

Same here and I make $70k and DH makes $330

+2.

I don't really understand separate finances. What if your DH loses this awesome job or can't work for some reason? Does he have to pay you from his savings? Would you still go out and travel without him if he couldn't afford it?

[Anonymous]

I make 50k spouse makes $100k. We get paid into our own accounts and then put a certain amount into a joint for household bills. Spouse puts in more than I do. Spouse also pays for vacations and childcare including camps. I generally pay for kids clothing and stuff I buy for any of us at Target.

[Anonymous]

You share the money and make decisions together.

He doesn't want to spend his awesome salary going out or traveling alone or living in a great house all by himself since you can't afford 1/2 of the mortgage. He wants to share his life and his experiences with you, his spouse. Don't be a nitwit.

[Anonymous]

Anonymous wrote:It all belongs to both of us. One big pot that we each have equal say over.

same

[Anonymous]

He made this money uou didn’t . Right Ted? We outta here

[Anonymous]

We have a joint account where we each put in half of our monthly expenses (mortgage, bills, groceries, etc.) plus a bit extra for house maintenance/repairs/unexpected expenses and personal accounts where the rest of our money goes. If one of us wants something that's not house related, they buy it from their personal account.

No asking permission, no worrying about if the other secretly disapproves but says yes to keep the peace. We spend our money however we want. I know that's probably not how most married couples structure their finances, but works perfectly for us.

[Anonymous]

If you are not married, it does not all go into one pot nor do things get split based on relative income. You either agree that something is worth it and then split it 50/50 or you disagree and the person who wants it pays more/all (regardless of if that person makes more or less).

Once you are married it all goes into one pot and hopefully your time together before the marriage has prepared you for dealing with the case where one spouse wants something that the other doesn't.

[Anonymous]

All the money goes into 1 account and pays the bills.

We each have out own separate accounts and we get a "certain amount of money" that goes into each of our accounts so we can spend without consulting each other.

Extra money goes into investments. (this is after we max our retirement)

I'm fine with this set up but in divorce, it is not 50/50, the person making more money gets more money... that is how our prenup is structured.

[Anonymous]

Anonymous wrote:All goes in one account. Your are married, not roommates.

If you want more money make more money, you are married, not a child.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It all belongs to both of us. One big pot that we each have equal say over.

same

So every single time you want to buy something you have to ask your spouse's permission. UGH!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All major expenses split according to income relatively (approx.), about 65-35.

After all parents were gone, after inheriting it’s about2:1, the spouse w the greater bankn(separate property, inherited), pays nearly 100% of jointcexpnses now.

P.s. a wise law school professor told the women in my class to be sure to look out for their legitimate separate property in considering how to handle, same for men.

So we have a joint pool contributed to proportionally based on income, the rest is separate but of course available to spend on each other and we do.

I don't know how lawyers stay married with constant bean counting.

My husband and I are both lawyers, and we have one big pot. No bean counting here. We've gone back and forth over who makes more than the other. For the last several years, I've made more than 3x what he makes, and it still goes into the single pot. We both bring our whole selves (and our whole incomes) to the family we've made between us, so one pot for makes sense.

Neither of us have inherited anything of note, but if we do, we'll keep that separate.

[Anonymous]

All goes into one account and we both put the same amount towards individual slush funds for which we use without needing to consult the other person. Obviously, big purchases need to be a joint decision (TV, Couch, big trips, etc.)

[Anonymous]

Dh makes WAY more than I.

His money goes in a joint account, mine is separate- it's more like the rainy day emergency fund. During the first 7 years of our marriage, I supported both of us.