Couples and joint accounts

margaretclare

Look at my post no. 17 on this thread:

http://forums.moneysavingexpert.com/showthread.html?t=161762&page=2&pp=10

Aunty Margaret

fairylights_2

We have a joint account for bills which we pay different amounts in to each month - depending on how much money came in to each of our accounts. Otherwise the finances are separate. I'd love them to be all together as I trust him completely, and it would make grumbling over who bought xyz easier, but his dad had an affair and then emptied the joint account, so he's a bit frightened it might happen to him. Like I'd leave him. It'd be like losing part of me.

One day he'll trust me ... :rolleyes:

Spendless

Joint-all money is ours regardless of whether I've worked full-time,part-time or not at all during the time we've been together.

We do have seperate accounts too but that's so I can move money about and ear-mark them for different things eg hols, kids etc. The money is still ours jointly just it might be in my name as I am not a tax payer I earn more on savings. All accounts are on-line so I can check every day if need be.

Several of my friends have had 'seperate' finances and what I call 'hidden money' where they haven't known the amount their OH earns or what the additional income that they keep goes on. I have various examples of the 'hidden' money being spent on gambling, mistressess, and huge cc bills being run up without the OH knowing.

Wizwoo

Our money is...our money. His pay goes into one account to pay the bills and mine goes into another account for spending. Within a few months together we had a joint account when OH lost his job...guess I knew then he was the one for me (and this is 9 years later!!! )

Dora_the_Explorer_5

I reckon if you're happy sharing a bed you should be happy sharing a bank account

Kzlnd

I still have my own account and my boyf still has his own account but when we moved in together (We're renting for a while) we set up a joint account with the purpose of paying the bills ie: Rent, C.Tax, Water/Gas/Elec, Sky Tv/Licence, Telephone bill/Internet etc etc.

The plan was to set up standing orders from our individual a/c to go out when we got paid each month into the joint account..
It's not really happened though. :rolleyes:

We usually split the payments 50:50, I may pay a bill by cheque or internet banking payment but he will give me half or the other way around, I'll give him half etc.

He sees my bank statements/bills/internet banking and I see his - We've been living together for over a year and not had any real problems although I think I should take charge of paying his own bills (ie credit card) because the last month or two he's been forgetting about the bills and get £25 late payment fees :eek: GRRR He's not bothered though(!) ..I know, don't get me started :rolleyes: :rotfl:

We do plan to use the joint account, it's just getting round to changing the direct debits We consider our money, to be just that - *our money*.
I don't understand people with these hidden accounts.. my boyf knows I spend too much on clothes, I'm not going to keep it a secret, I couldn't anyway! :rotfl: No need to keep secrets

YBNB

Me and the missus both have unusual jobs, not that that's got anything to do with the poll but our finances are separate.

Not secret at all, just completely separate. I see to most household bills, she sees to the others. If one of us is struggling to sort one out, we'll help.

Guess we're lucky....

piglet6

Hubby & I pooled our money from the start (although we met as students so didn't initially have much money to pool!!). We have always had a "joint" current account that salaries are paid into, out of which all household bills are paid. Then we have "separate" current accounts (old individual "student" accounts which turned into "graduate" accounts - not that this title meant much!) and we pay a certain amount of "pocket money" into these separate accounts each month, which covers pressies for each other (without having to explain how much we are spending), and personal spending (non-accountable, i.e. drinks and leaving/maternity collections with work, etc, etc). This means that no matter who is earning the most, we have the same amount of spending money (which works for us, as our earning power has swapped back and forth over the years). Our theory is that we are in it together for the long-haul, therefore what we have (be it debt or savings) is joint - we discuss big spends out of the joint account in advance, and we have the same amount to make on personal spends no matter how much we earn, because we are equal partners in this relationship, therefore we have equal access to the same amount of money.

Piglet

P.S. This is my first post, so I hope I haven't spoken out of line...

ladywood

Joint account, joint mortgage, joint credit cards - we view all income and debts as shared and always have. Makes life much simpler for budgeting and planning.
I couldn't imagine it any other way!

Crimmey

My wife and I have seperate accounts however we both have unlimited access to either. Bills are seperated for example I pay car, council tax and mortgage and she pays all utilities. We share fuel and food and anything else.

We consult each other before making any kind of purchases and I think it is easier to track each others spending as it is very easy to get lost and also less tempting to spend on rubbish. We dont not have credit cards and try not to draw out cash, only until we need it as you always end up spending all of it on things you can do without and it goes very quickly. If I build up more money than her, I balance it out by contributing to her savings account and vice versa. I guess having the two accounts is really a ' false sense of freedom' (possibly a good thing) as we are virtually joined at the hip but it works amazingly for us as we feel we are doing favours for each other and I do believe you get a greater buzz from giving and recieving than not feeling anything at all with a joint account maybe?? Everytime she fills my car up it feels like a present. We do understand that all our money belongs to each other.

I guess it made it easier at the start as we used to work at the same place on the same wage so we knew how much each other had, and as we changed jobs the principle has stayed the same. We also open each others mail (I would be very interested to know if this happens everywhere else?). I think I am very lucky to have met someone with very similar ideas and we even look the same, people have mistaken us for brother and sister!!! Who said opposites attract.....i wasn't born a magnet .Another funny thing is her Dads sister is married to my dads sisters son. This is not how we met, we met at work. Anyway, a big cliche is that Trust is a major factor in a relationship. Its easy to say you trust somebody but do you really mean it?

omg what a load of rubbish I have typed to such a simple question

*ramble over*