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[quote=Anonymous][quote=Anonymous]My wife and I have a joint checking and savings account, and we also have our own checking accounts. We give ourselves a certain amount of money each paycheck for personal spending and the rest is auto invested and goes to the joint checking/savings accounts. Joint accounts are used for household and couple expenses, personal accounts are used for hobbies, etc.

Is this a good way to do it? We are just starting out. I have a much higher income so it feels more fair to have joint accounts vs keeping everything separate. [/quote]

All money is “ours”, we don’t have “mine, yours, and ours”.  It is all tracked into the same Quicken file.

However for practical reasons, we each have our own checking account and we can move money back and forth if needed for cash flow.  We have joint savings accounts.  Our paychecks go into our individual checking accounts and based on which bills we pay we set up a monthly amount we each send to the savings account.  We have a comfort buffer of $1-2k in each account and if it gets too low we reallocate the cash flow; we deposit more into savings account if it gets too high.    This worked while both of us were earning.  When one of us stayed home for a bit, we would transfer a set monthly amount from the earner’s account to the sahp’s account to cover their cash flow.

Again, all of our accounts feed into Quicken.  [/quote]

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