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How do you and your mate do the bills -- money management issues?
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Anonymous
Really? I didn't get that impression at all. What do you care if folks have separate accounts? Seems like it's more the norm. My parents celebrated 40 wonderful years of marriage this weekend, and my mom has not held a full time job since she had my oldest brother, less than 2 years into their marriage (she was 24). She now substitute teaches and has her own account and loves it. Also, how would you buy gifts for each other? Don't you ever save to buy something nice for your husband and surprise him? |
Anonymous
Interesting--I completely don't care how others manage their money, but count me among those who think it is rather odd to have separate accounts if you're married. I tend to doubt that it's the norm to do it that way. As I said, I don't care; just don't really get it. |
Anonymous
| We have separate accounts and one joint account for house savings, to which both of us have access. We started with the joint account, but then went on to open separate accounts as well. |
Anonymous
Who said anyone cares? You don't have to care to think it sounds more like roomates than a marriage. A newly employed housewife with a piggy bank is not what we are talking here. |
Anonymous
| We have separate accounts. We got married in our late 30's and neither one of us wanted to change banks. We have a joint account for savings and we keep saying we need to make our other accounts joint, but it is just laziness that has been preventing us. Our system works, so it doesn't seem like a big deal. |
Anonymous
| Same here. Amazing how much can be explained by simple inertia. |
Anonymous
| And how much time some people spend judging other people's marriages. |
Anonymous
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I had a friend who split all expenses down the middle, 50/50 with her husband. This worked OK when they both made the same amount of money, but as the years went on, he began to earn more than her until he was making more than twice what she earned. He would pay his half of all of the bills, and keep the rest of the money for himself. She was struggling to make her half of the daycare bill while he was buying himself toys.
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Anonymous
| We started off with sep. accounts and it lasted about 4 months. It was a hassle to get and file 3 banks statements, etc. For us, it was easier to have everything in one big pool and not have to transfer funds back and forth. |
Anonymous
Joint acct. marriage here. We have several accts., but one for household stuff, ie, mortgage, utilities. I have an AX card for groceries, Target, clothes. My husband manages the $$$ because if I did, we'd be on the street since I have no relationship with $$$, however, I can earn a paycheck  $$$ and I have never had a good relationship, I'll spend every last penny if I had control of the finances.
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Anonymous
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We have joint accounts. We both work.
I do EVERYTHING related to our finances. My husband uses his ATM card to get cash, and he charges purchases to our credit card. That's the extent of his involvement in our finances. If he needs a check, I write it out for him. He has not paid a bill in eleven year. He does not look at our bank, credit card, or financial statements. He doesn't know how to login to our bank accounts to check balances, transfer money, or pay bills online. He doesn't even know how to log in to his own 401(k) account (I do). |
maynie
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| Joint accounts are great when you have enough money in them that you don't have to keep track of who's buying what. When things are very tight, it's a pain and very easy to overdraft. My husband and I started with a joint account and eventually opened our own accounts as well. It works well for us. |
Anonymous
Agree. Especially since for work expenses it is a lot easier for me to just put on my card and then get reimbursed. |
Anonymous
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Between the two of us, we have 5 different accounts. Both our names are on each account
(1 and 2) We each have a mad money checking account. $X dollars is placed into this account each pay period. This account is our own account and we can use it however we want - no questions asked. It covers our lunch money and play money. I use most of my mad money for lunches, pedicures, shopping, etc. However, when I was on maternity leave I didn't use my money since I was home. At the end of the leave I had a tidy sum, and bought a flat screened TV for our bedroom. Hubby spends all his money on Starbucks, lunches, music, DVDs etc. I don't touch the money in hubby's mad money account and hubby doesn't touch and money in my account. (3) ING Savings Account - we put $X dollars each month into this account for our emergency fund, life happens fund (vehicle repairs, vet bills, new roof, etc), and future large savings funds (saving for baby #2). Any extra money (tax refunds, bonuses, etc) also go into this account. (4) Small Savings Account - This account holds money for our vacations $X dollars goes into this account each month. (5) Major checking account - All the remaining money goes into this account. We use it to pay all our bills, groceries, gas, etc. I keep a strict budget for this account. I handle all the finances. I love budgets, handling money, etc - and it just gives my husband a headache. He told me before we got married - you handle it and tell me each month how much money I can spend. |
Anonymous
| We have separate checking and savings accounts and a joint money market account. We both pay bills as they come in. I make a small fraction of my husband's income, and I pay the housekeeper and fund 529 plans for our kids, so a set sum is transferred automatically from his account to mine every month. If I need more money I ask him, but I never feel like I'm asking for "his" money; it's more like asking for some of our money to be moved from one place to another. |