separate finances question...

tryingtobegood75

hi,

been reading this forum and had experience with friends and was wondering if it was unusual to have complete finance transparency with your other half ??

I've been married several years we both work but every aspect of our finances is shared. i.e. at the start of the month we look at a spreadsheet and estimate our costs for the next month, then what's left over is shared.

Our money is our money there's no line drawn but looking at this forum so many people have separate finances and sometimes secret debts. I'm starting to think this isn't unusual ? If we go out with friends more than half our couple mates at the end of the night when the bill is split, they pay their individual share....

Are we old fashioned, in the minority now or what ??

goodgirl80

Personally I find it much easier to have seperate finances. His income is his, mine is mine, we both pay an equal share for the bills into a different account. Just do what works best for you! ps: we don't have 'secret debts'

Million_Percent

Depends on your circumstances and how much finncial independance each person wants. My wife and I are like you OP - it's all 'our' money and 'our' debt regardless of who earned it and who spent it. My wife doesn't really have a head for money management so I deal with it all and just give her the weekly money for shopping and a small personal allowance (she doesn't currently work). I guess in that sense, we are very traditional.

However, I think often where couples don't get married straight away but move in together and both are working, it perhaps makes more sense to just split the bills 50/50 and manage your own finances separatley. That's certainly how my wife and I started out but over time, particularly when she stopped earning it all just blended into one set of financials. It also depends how balanced the two incomes are. If both partners earn similar salaries then they can just split things 50/50 and keep the leftover to themselves. Equally if one earns considerably more then splitting things 50/50 is less practical and it's more likely to get amalgamated into one.

Dave101t

my money and my wifes are totally seperate, if she needs money for anything she will ask, tho she has her own so would never ask!
very simple and there are no shocks if you have a joint credit card!

Malky

Myself and my wife's money is both ours jointly so just about everything gets split down the middle. No fuss, no arguments. What works for one may not work for another. Each to their own.
The only thing we won't split is credit card bills (thankfully we have none atm) unless the purchase has been something for the house or an urgent repair.

LillythePink

We have joint accounts etc, but each get pocket money per week/month and that is our money to do with what we want be it spend it or save it, aside from that it's all joint

Culex

tryingtobegood75 wrote: »

I've been married several years we both work but every aspect of our finances is shared. i.e. at the start of the month we look at a spreadsheet and estimate our costs for the next month

Gosh, how romantic!