I am a 33, single, never been married, and he is 40, divorced, has 4 kids and his ex-wife is deceased. We both work full time and make a decent living and have our own checking, savings and 401k's. He owns a home and a few rental properties in NC. I rent an apt in NC and I own a rental property in NJ. When we get married, how much should I contribute to the household account for the mortgage, utilities, and general savings for the household needs. Any advice would be appreciated!
2007-09-20 06:55:28 · 8 answers · asked by Karen D 1 in Business & Finance ➔ Personal Finance
I would talk to him about how you are going to do the accounts, will all checks go into one account... or when the two of you get married are y'all still going to keep them separate... if separated then talk to him about what he thinks is fair, considering he has 4 kids and you have none and it is his house not yours... I do not think you should pay half but maybe a fourth of all of the bills... remember if something happens your name isn't on the title...
2007-09-20 07:04:15 · answer #1 · answered by Anonymous · 2⤊ 1⤋
Think of everything as "ours". The fact that your husband has kids should not come into play. They don't bring money into the household budget. My husband and I share joint accounts, checking and savings. I know it's an old fashioned idea, but if you plan on staying with each other, there's nothing wrong with it. Both our salaries go into the checking acct. We pay the bills each month together. Then put money in the savings for taxes/insurance/etc (just figure out what you need to put in it every month). Then we have a second savings, which we put some into each month for vacations and fun times together. Again, old fashioned maybe, but it's worked well for us. If you want to make it work, it'll work. Good Luck, and Best Wishes to the both of you!
2007-09-20 07:08:39 · answer #2 · answered by bpsgirl123 6 · 1⤊ 1⤋
It really depends on how much each person makes and what expenses you would like to pay.
Since my husband has a lot of credit card debt, I pay the cable bill and all the expenses on food. My husband pays for electricity, gas and telephone bill (dsl included). If we buy household items such as furniture and cleaning supplies, we would each pay half. We also pay half for all our son's expenses. Both of us has a joint bank account where we can contribute money every paycheck. We also have separate bank accounts for our own personal expenses.
2007-09-20 07:05:27 · answer #3 · answered by Mrs Apple 6 · 0⤊ 0⤋
When my husband and I got married, he was also a single father of four boys, and I was single, never married and had no kids. We just pooled all our money into one account, and paid all the bills from that. That's one way to do it. But if you want to keep some of your money separately, then there's no right or wrong way to divide expenses up, it's just whatever you agree on.
2007-09-20 07:26:01 · answer #4 · answered by Judy 7 · 3⤊ 0⤋
My sister does this with her Husband. They set up a checking account that they are both joint on and both put money in it weekly while maintaining their own personal accounts. They basically split everything 50/50; however, he has 4 children so you may want to consider 60/40. It is whatever works best for your situation.
2007-09-20 07:04:50 · answer #5 · answered by creporthelp 1 · 1⤊ 1⤋
I'd say at least half of your money and assets show go to the household.
Always keep something back for yourself just in case things dont work out.
2007-09-20 07:04:13 · answer #6 · answered by Anthony G 2 · 1⤊ 0⤋
It relies upon on no remember if or no longer your call is going on the marital domicile. no remember if it particularly is and you boost into 50% proprietor, then you definately ought to pay on a share foundation based upon your income while in comparison together with his. case in point, in case you earn 60,000 and he earns one hundred,000 consistent with 12 months, then you definately ought to basically pay 40% of the expenditures, because of the fact he earns 60% greater advantageous than you. yet, it particularly is provided which you're co-proprietor. in case you do not have possession in any respect, then he ought to pay his own loan, his own taxes and any maintenance that are required on his components. the clarification why you ought to not pay for taxes and maintenance is because of the fact which you will no longer see a income on the domicile and at that factor, you would be making an investment in his components, it particularly is equavalent to you overpaying. quite, you ought to basically pay 40% of the entire value of foodstuff and utilities. you ought to sustain your guy or woman 401Ks, checking, saving and CD bills on your guy or woman separate names, yet have a joint account to pay for utilities and foodstuff basically the place you the two deposit your share of money into periodically (on a similar day). ensure that the joint account is merely used for what it particularly is meant for, that way, there's no problems interior the destiny. for my section, I additionally experience that girls human beings shouldn't substitute their final names, exceedingly expert women human beings. till it is going to reason a substantial call wave on your courting, it particularly is plenty much less confusing to maintain issues "as is" with your call.
2016-10-05 01:54:19 · answer #7 · answered by teresa 4 · 0⤊ 0⤋
once you marry, it's no longer your stuff, my stuff, your bills my bills..
its OUR stuff, OUR bills.. OUR money... Our property.
viewing it any other way will likely cause problems.
you need to get a written budget and be on the same page with money.... money fights is the #1 cause of divorce in America.
2007-09-20 07:05:41 · answer #8 · answered by Anonymous · 1⤊ 0⤋