We are in our lates 30's ans we are not sure how to mix our finances. How do you do it? One bank account, sepearte accounts? I am curious how other couples do it because this is tough. I pay all the bills and have to ask her to give me money to help...I don't like doing that...any suggestions?
2006-10-12 08:05:14 · 22 answers · asked by jimmills34 1 in Family & Relationships ➔ Marriage & Divorce
We've always put our money together. What's mine is yours and vice-a-versa type of thing. We discuss purchases. And have a budget worked out (together) We have one bank account. It's just easier to keep track of things that way.We balance our checkbook together so there are no surprises... It works well... Nobody is having to ask anybody for anything... And we both feel like we're doing our part it's good
2006-10-12 08:12:15 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Figure out how much you make together and figure out how much your bills are. If she brings in 40% of the income, she pays 40% of the bills, so give her the electric and phone bill and you pay for the mortgage, etc. (you get the idea).
You both have separate accounts except for a joint savings or money market account which you have both agreed to put in a certain amount of money each month. With separate accounts you can both have the freedom to go for a bite to eat or get some new clothes without having each other scrutinizing every purchase.
What you may also want to do is set a limit - say $150 - and neither person can buy anything that costs more than that without consulting the other person, even if it comes out of your "personal" account because big purchases should be discussed in advance.
Good luck. Figuring the money thing out is a big one.
2006-10-12 08:12:03 · answer #2 · answered by VNCGirl 3 · 1⤊ 0⤋
I am on my 3rd marriage..
I say if both of you are working then both of you should have seperate checking accounts. It makes it difficult to have one checking account when two people have access to it, check cards, checks.. you know.
You can set up a checking account to where both of you deposit money that is just for household bills and finances. And make it a LAW that the only money that comes out o f that account is to be BILLS ONLY!!!
This way you can keep your personal paychecks out of it, other than what you deposit weekly, bi weekly or monthly for bills.
This way neither of you is asking the other for money to pay this or that and still the household finances are being taken care of.
If you are paying all the bills then what is she doing with her money??? Wasting it?? IF she doesnt offer to pay and actually doesnt pay for things within the marriage then you guys are gonna constantly fight about money.
It isnt fair and the relationship isnt 50/50 if you pay all the bills and she works but never contributes any of her money. She may as well be bumming off of you!!
If these are questions you guys didnt discuss before you married, then you guys are in for it.... big time. I bet theres lots more things you guys didnt discuss either.
I suggest you sit down and have a good long talk, money if you havent discussed it, will be the least of your problems, since you havent discussed this one before you tied the knot. Make sure there arent other issues you need to talk about.
2006-10-12 08:22:35 · answer #3 · answered by Shalamar Rue 4 · 0⤊ 0⤋
Congrats on your marriage. I just got married, too - and we still haven't quite figured out what to do with the finances. We've been living together for over a year, but all our finances are completely separate; I pay my own bills and some household expenses, and contribute to the mortgage; we have separate accounts and credit cards. We think we would like to combine things, but haven't done anything about it yet. We'll probably just combine our accounts, and have all the bills come out of the joint account. We're in our 30s, and are both working; he makes more than I do.
2006-10-12 08:14:27 · answer #4 · answered by Anonymous · 1⤊ 0⤋
if there is enough money to it here is one suggestion... have 3 accounts,,,, 1 for all the bills, and one for each of you to buy what ever each of you needs or gifts for the other, etc... get all the bills out, calculate the monthly bills, and add an extra 100 for the ups and downs and each put in 1/2 or so...... you could also add the cost of food into that same account......this will help get you started, and you can always do something different as time goes by and you each get used to how things work... God bless
2006-10-12 08:11:16 · answer #5 · answered by Annie 7 · 2⤊ 0⤋
My wife and I had the same problem. Out of trust I turn all my earnings over to her. She has a checking account in one bank, and I have a checking account in another. I don't even ask her where it's going. She gives me an allowance weekly.
This all works, even though we had life's before. Women have a
big job running the household, and trust is a big factor. By not insisting on her being accountable to me she has a certain freedom for running the household.
2006-10-12 08:12:35 · answer #6 · answered by Jack G 3 · 1⤊ 0⤋
You are married and want to know how to handle the finances? You get a bank account in both your names, you put you paychecks in it and you pay the bills together. If you dont think the realtionship will work (not sure why you got married then) then keep it separate. Sounds to me like you guys are trying to keep it separate so that when it ends it will be easier.... that is sad.
2006-10-12 08:11:57 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Well in our case, for a few years we had seperate accounts. But now after, 10 years we decided to combine our accounts togethor. We now pay the bills togethor. It seems that we are now saving more money this way. Its tough because when you combine the bills it seems there is more to pay, but there is also more money leftover. I think it took us 10 years to do this because he was uncomfortable of giving up all his money and depositing it into a joint account. I think its harder for men to let go of this.
2006-10-12 08:31:20 · answer #8 · answered by na5nica 2 · 0⤊ 0⤋
Here's the way we do it. We each have our own checking account, and then we have a joint account. Each payday, we put a percentage of our paychecks into the joint account to pay the bills. What we put in is based on our earnings. For example, if I earn 60% of the total wages, I pay 60% of the bills. We have been doing it this way for 15 years, and it works for us. Whatever each of us has leftover after putting in the joint account is ours to do what we wish. Good luck.
2006-10-12 08:23:52 · answer #9 · answered by sinbad 2 · 0⤊ 0⤋
Seperate accounts, and one joint. A fraction of the income goes to the joint account for household bills. OR determine which one will pay which bill. But NEVER stop saving for yourself.......because things happen. And you need a little nest egg for emergencies.
2006-10-12 08:40:09 · answer #10 · answered by lilac b 3 · 0⤊ 0⤋