The ultimate incentive worked! Now onto phase two

Dinah93

We're fairly sure in what we want with regards to the joint/seperate finances, it's just driving me batty trying to manage the money seperately since we can't get a joint account due to my shoddy credit record courtesy of the A & L. It's just the hassle of it being seperate, I know that sounds odd!

I feel we'd spend a similar amount per month, NIM goes out with the work guys which will be at least £25 a month, whereas I'm more likely to order some books from the bookpeople, but if he wants a book he'll buy it as soon as it comes out, whereas I'm more likely to buy loads in bulk for the same price! I'd say at least 80% of our spends goes on meals out together, or days out, and if it turned out one or the other was spending a lot more than the other we'd have to reassess, but so long as its in budget, whats the harm?

Dinah93

I know he wouldn't mind if I bought some shoes, equally I don't mind if he spends his money on whatever he likes (so long as it isn't blatently wasted ie a cash machine charge!) but we've discussed very seriously when we're hoping to be able to start trying for a baby given my health and the fact we're both quite broody, the number of days is in 4 digits, but not by much!

Poolie

Re the accounts.

OH and I have one account which gets money from me each month since I earn double what she does. This covers bills and other costs. We use the joint account were we are doing things together. We have our own seperate accounts for our own bits. Our salaries go into our own accounts and get shifted to personal or joint savings where necessary.

I make sure Credit Card and other loans (apart from my studies loan from my MSc) come out of the joint account more so she can see exactly where the money is going.

I have asked OH to take control of Joint account again but she has refused till the Credit Card and the Loans are clear (apart from the new car loan) - Roll on March/April 2010 so she can take charge again.

Poolie

Dinah93 wrote: »

we can't get a joint account due to my shoddy credit record courtesy of the A & L. It's just the hassle of it being seperate, I know that sounds odd!

Can't you just go to your bank and ask them to set up a Joint account. Barclays were able to do this for us without any other credit search since we both bank with the same bank (and at the same branch as OH was annoyed with her previous bank and moved to mine - makes things so much easier)

Dinah93

Nope we asked HSBC to do this Poolie and they said there would be a credit check for any account. I think we could have a joint basic account with Barclays but the card is barely accepted anywhere it seems (my mum has one) and the branch in town are beyond useless.

Poolie

Very odd that the bank would want to do a credit search on an already existing customer. Shame since they are making you live harder but not doing it!

Dinah93

Lol I raised that point with them too! She said they always do a search if you apply for any new credit products.

Poolie

The argument is - Can a joint account be classed as a credit product - I would say no especially if there is no overdraft facility on the account. Can't believe HSBC would be sooo silly about it.

Have you tried talking to a different branch just to make sure they are singing from the same hymn sheet

Dinah93

No we haven't, with working 30mins apart getting to the bank together once between 10am and 4pm was a major undertaking, twice would be akin to solving world hunger.

Lara44

We have just got a joint account since January and it's working out really well so far. We still kept our separate accounts but we have only use these to buy each other's presents so far.

We budget an amount a month for rent, bills and living, and each of us puts it into the joint. All the leftovers go in our personal savers for the house deposit fund. Weirdly it seems to cost less per month since our banking together as last month we had £200 left! OH earns a lot more than me but only puts in £100 extra pm as I am quite proud and like to feel I am paying my (almost) half. We applied to HSBC first (OH bank) but they wouldn't give us an account, so we applied to Natwest (my bank) and got one no problem.