Splitting the bills 50/50, my money, your money - Please your married !!!!

debtfreein4years

1 joint account, 2 single current accounts. lots of savings pots in various names mainly his though. at the moment he is the sole earner in the house so everything is paid by him including my spending money. almost all the savings are in his name including a personal inheritance of mine as he doesnt pay tax on his interest. we are not married so if anything did happen then i would be out with nothing which is fair enough as i shouldnt have trusted him enough to give him my money

im going to be working from the start of next month so we will continue the way we are just with increased personal spending money and more in the savings whcih will remain in his name as 1. he has an immaculate credit history even with us sharing a joint account. 2. mortgage when we get one will be in his name only cause of the credit history. 3. if i have savings i can see handbags and shoes accumulating in the wardrobes but if its in "his" account then i wont touch it.

when we are married will be the same set up as above and although it is mainly in his name it is "our" money.

brazilianwax

I'm married and don't have a joint account with my husband. The only thing that is joint is the mortgage.

It's nothing to do with commitment - we are happy with the arrangement. We split bills according to the ratio of our salaries rather than 50/50. That includes all joint items including holidays etc. What's left is ours to save (against the offset mortgage) or spend as we see fit. He spends a fortune brewing beer and I spend money on clothes

I don't tell him what to do with the money he earns and he doesn't tell me what to do with mine. Somehow it works.

I don't really care what people think about it. I didn't change my name on marriage, nor my title and I don't see why I should change the way I run my finances just because I said 'I do'

flippin36

brazilianwax wrote: »

I'm married and don't have a joint account with my husband. The only thing that is joint is the mortgage.

It's nothing to do with commitment - we are happy with the arrangement. We split bills according to the ratio of our salaries rather than 50/50. That includes all joint items including holidays etc. What's left is ours to save (against the offset mortgage) or spend as we see fit. He spends a fortune brewing beer and I spend money on clothes

I don't tell him what to do with the money he earns and he doesn't tell me what to do with mine. Somehow it works.

I don't really care what people think about it. I didn't change my name on marriage, nor my title and I don't see why I should change the way I run my finances just because I said 'I do'

Well said :T

**confuzzled**

I agree OP, I can't understand why couples who live together don't have joint accounts even if its just for the household bills!!
Me & DH have had joint accounts from the day we moved in together! Saved faffing about when we got married too:D
Admittedly he earns more than me and therefore he spends more than me, but thats my decision not his, and so he can't shout at me when I have my yearly clothes shopping spree;):rotfl:
Same with the debts(unfortunately:p) doesn't matter whose name it's 'officially' in the debt is ours!

And just for the record, we're both in our 20s:D I don't like the misconception my friends have that the 'yours is mine and mine is yours' is strictly for the over 50s:rolleyes:

nearlyrich

The_Banker wrote: »

Married couples who have their own accounts dont seem committed to me. And if they arent married they are even less committed;)

Seems like they just want to still live seperate lives.

I think it's a bit out of order to question the commitment of a couple because they do something different to the way you do it:mad:

WE have been together over 20 years, married for 11 we have a joint account for bills, split holidays and shopping and it works fine for us. I don't have to ask if I can spend my wages on shoes and he can pursue his hobbies without me checking how much his latest gadget cost. Maybe if we had less disposable income or had children together it would be different but the way we handle OUR finances works for US, that's what's important not that we should conform to your idea of what's right.

The_Banker_5

nearlyrich wrote: »

. I don't have to ask if I can spend my wages on shoes and he can pursue his hobbies without me checking how much his latest gadget cost.

But why would anyone want to question what their OH spends money on.

If you trust each other then theres absolutely no need.;)

flea72

brazilianwax wrote: »

We split bills according to the ratio of our salaries rather than 50/50. That includes all joint items including holidays etc. What's left is ours to save (against the offset mortgage) or spend as we see fit. He spends a fortune brewing beer and I spend money on clothes

I don't tell him what to do with the money he earns and he doesn't tell me what to do with mine. Somehow it works

but even splitting bills on ratios doesnt work out fairly - why not put it all in the pot, and then share the left-overs, equally?

Having yours and mine money, only works long-term if you both have equal, sustained income. what happens when one or other of the couple have no income, or its reduced. Will the other be prepared to share then?

easiest to work out the finances from day one, that way no resentment can set in, youd be surprised how precious people can get, because they now have to share their money

I have many friends following the yours and mine money system, and all of the women who are now working p/t or staying at home to look after the kids are getting the thin end of the wedge. Still having to contribute, but being left with no free money of their own. Some of the ones who are sahp basically have to live on their child benefit (but some OHs have even set this up, so payments go into the their account)

as said above, we are a partnership and everything is split equally, be that debts, savings, bills or spends

Flea

busy_mom_2

Me and hubby have always had joint accounts, he also earns more than me and now we have the kids and I work part time it seems fairer.
I can understand why some people wouldn't you both have to be of same minds when it comes to spending money. I have never been questioned about the new clothes I have bought same as I don't ask him about the odd new golf club.
Worked for us for the last 15 years but my sisiter splits everything, kids need new shoes 1/2 each, takeaway 1/2 each, it would drive me mad!!!

rosielx

We've been together seven years and married for a few months but our finances are separate. Husband earns 4x what I do so he pays for the house/bills/cars/holidays/childcare. I pay the child care voucher bit from the childcare and buy all of daughters clothing and shoes. He transfers money across to me for the food shopping too as I work part time and have more time to do it. It works for us and we don't argue about money but I guess no one is ever going to agree :rolleyes:

MrsE_2

The_Banker wrote: »

Married couples who have their own accounts dont seem committed to me. And if they arent married they are even less committed;)

Seems like they just want to still live seperate lives.

DH & I have separate accounts.

He's self employed so needs his own, I have mine for my wages. But we share everything (well he pays nearly everything:o, but he earns more).

We also have a little used joint account.