Anonymous wrote:

Anonymous wrote:I don't get this
No shared saving goals?

We've had this thread 1000 times. And each time it blows people's minds. I'm not sure why.

In our home, we each contribute to a shared savings account, a shared checking account, and keep a small amount of money in personal checking accounts for incidentals, gifts, petty cash, personal grooming, lunches out, whatever. This way, I can keep track of my own personal spending on hair, clothing, etc. and not have to worry about reconciling it with anyone else's activity.

Are the personal monies the same or does the spouse with the larger salary get more?

15:00 pp here. We thought once we had kids we would combine everything, but we never did. Honestly we are saving well, neither one of us spends too much, and we really don't stress over who pays what or things being equal at all. So we figured if it ain't broke don't fix it.

Anonymous wrote:I don't get this
No shared saving goals?

We've had this thread 1000 times. And each time it blows people's minds. I'm not sure why.

In our home, we each contribute to a shared savings account, a shared checking account, and keep a small amount of money in personal checking accounts for incidentals, gifts, petty cash, personal grooming, lunches out, whatever. This way, I can keep track of my own personal spending on hair, clothing, etc. and not have to worry about reconciling it with anyone else's activity.

We aren't very well organized, but we still keep things separate since we had kids except for one joint checking account. We split the mortgage and take turns paying the daycare bill bi-weekly. Sometimes I pay a few times in a row or he does, but whatever. We don't keep track much. Then we each pay certain bills. I pay cable/internet, BGE, groceries & water bill. DH pays phone bill, pays when we eat out or go out, and puts whats left in savings (he makes more). I spend most of my salary on paying bills and buying stuff we need and DH pays what is needed and throws the remainder in savings. Our savings seems to build up faster this way.

Anonymous wrote:I don't get this
No shared saving goals?

I don't know about other posters- but with us (I am 14:32) we have about 40K in savings/emergency $$$, $700K in retirement, $100-150K in other savings.

I don't get this
No shared saving goals?

Anonymous wrote:No, the money for the field trip comes from the joint account.

So you just decide ahead of time how much to "budget" for and if it needs more you'll just contribute more?

No, the money for the field trip comes from the joint account.

Anonymous wrote:What about if the kid has a field trip? Do you both contribute say $25 if the cost is $50?

You'd just pay for it out of the joint account, right?

Anonymous wrote:What about if the kid has a field trip? Do you both contribute say $25 if the cost is $50?

No, it comes from the joint checking account. Did you read the posts?

What about if the kid has a field trip? Do you both contribute say $25 if the cost is $50?

Anonymous wrote:We do the same thing we always did - separate accounts plus one combined checking account. We each pay into the joint account equally and then pay all household and child-related bills from that account (which is 95% of the money we spend).

This is what we do, but we also did this prior to having a kid. We did increase the amount that we put in the combined account once we had the kid, since that's our primary use of money now (daycare, diapers, etc).

We don't quite do 50/50 -but close (based on percentages of who makes what). We deposit a set amount into a joint account and use that for bills. We have (1) joint rewards credit card for bills as well (grocery/vet/co-pays/home repairs etc) that card gets paid from the joint account.

We do the same thing we always did - separate accounts plus one combined checking account. We each pay into the joint account equally and then pay all household and child-related bills from that account (which is 95% of the money we spend).

Assuming you have entirely separate finances (savings and checking accounts), did that change once you had kids? Do you still pay 50/50 or did you end up combining finances?