Joint accounts - do you use one?

nadnad

Timmne wrote: »

I can't believe the split on this! Very interesting....

To those that pay bits into a joint account for the bills and keep the rest for yourselves, don't you feel like one of you it getting a better deal all the time? What about things like emergency car repairs? Do you split them too or does one of you offer to pay it?

Although my GF and I share all our money in one pot, there can still be secrets (such as presents) as we both use credit cards which are paid off automatically from the joint account.

no neither is getting the better deal - my OH pays more into the joint account because he earns more - he also saves a lot more than me, and after this we're usually (roughly) left with equal amounts of money.

For emergency things whoever has more money pays or we just each put an extra bit in the joint account and take it from there.

Bettyboop

We have seperate accounts and we a joint account. But as my husband was earning twice as much as me....he wasn't happy with the amount I could transfer every month. In the end we fell out about it and he took the card back. Now that we live seperate I don't have the stress of trying to find money from everywhere for him. For some it works and for others it just doesn't.

Careful_girl

After long deliberations we came to the conclusion that we would pay the same percentage of our income into the joint account. We agreed what would be paid from this and used all of Martin's savvy about using cashback credit cards and paying off in full every month. I feel it is the fairest way particularly as my husband can spend money without trying. It means that when I for example took him away for a surprise holiday it was paid for by me. It would be nice to put it all in one pot and just share but not all relationships can cope with that.

joannasmum

We have a joint account that our wages go into and all our bills come out of. We also have a account each which we pay a set amount into every month. If we did it the split way we'd be on the streets as DH would waste every bit in his account and the mortgage would'nt get paid. As it is every so often I have to look at his statement and pay in extra to cover his overdraft. I'm sure this would happen whether he was given £100 a month or £1000, his terrible with money as is his whole family.

heather38

we have a joint account that was my husbands before we were married and we added my name to it. everything comes and goes into this account.
i have my old current acc from before we were married that the ctc and cb gets paid into. i can then buy the baby stuff and not worry if we will go overdrawn at the end of the month, and i have a savings account that i save up for things like car repairs ect but this money comes from what ever is left at the end of the month in the joint acc so is really a joint acc without oh name being on the acc iyswim.
oh and i used to earn the same amount(before kennedy was born) so it's never been a problem for us and couldn't imagine doing anything else.

Woby_Tide

is a bizarre split on th e poll. We work in reverse, everything goes into joint account bar 'spending money' which we both get the same amount regardless of wage and retain in individual accounts, this pays for our own stuff and presents etc. Also elimantes calculating what happens with different wages and bonuses, they all go to the main pot.

Morglin

Timmne wrote: »

I can't believe the split on this! Very interesting....

To those that pay bits into a joint account for the bills and keep the rest for yourselves, don't you feel like one of you it getting a better deal all the time? What about things like emergency car repairs? Do you split them too or does one of you offer to pay it?

Although my GF and I share all our money in one pot, there can still be secrets (such as presents) as we both use credit cards which are paid off automatically from the joint account.

No, we don't have "ourselves" money - we pay the bills, and then if one of us needs clothes, haircut, whatever, it comes out of whatever account is in better shape.

For day-to-day expenses, we just draw out whatever is needed every week, sling it in the cash tin and take what we need, daily.

For presents to each other, we use the credit cards, and then settle from either account when the bill comes in - we arrange purchases on presents to be done so that the bill doesn't come in before the birthday or whatever, so the presents are a surprise..

Lin

Redbedhead

Timmne wrote: »

I can't believe the split on this! Very interesting....

To those that pay bits into a joint account for the bills and keep the rest for yourselves, don't you feel like one of you it getting a better deal all the time? What about things like emergency car repairs? Do you split them too or does one of you offer to pay it?

Although my GF and I share all our money in one pot, there can still be secrets (such as presents) as we both use credit cards which are paid off automatically from the joint account.

The money that goes in to our joint account and the split of payment of bills is not equal, to account for the fact our income is not equal. So, as my income is higher than H's, I pay more in. This means H has enough money to live on and if I have any excess I put it in savings for a time when I may not have the income coming in (such as when on maternity leave).

Things like emergency items would generally come from our joint savings account. Emergency car repairs would normally be paid by me as the car is basically mine as my H does not need one as he commutes to london (and has to pay for a season ticket:eek: ). I have to have a car for work as get mileage payments that I keep to go towards car expenses.

If we were ever in the situation where we got to the end of the month and one or the other didn't have money we would either not go out or the other one would pay. We are married and I think in the long term things even out, i.e. at the moment I pay more in because I earn more. We plan to have kids and at that time I will earn less, so H will pay more. Swings and roundabouts.:D

Dumyat

we have separate accounts. OH pays all the big bills, I pay the phone bill (saves any fights because he never uses it), we each pay our own car expenses and in general the rest is our own ...we both buy shopping, save money and spend on ourselves.
in saying that we do know exactly what each other is spending because we do talk about money and with online banking we do know whats going on...no secrets. the big savings account is in his name as is the credit card

has worked for us for over 20 years now...its just what ever suits. Personally we would both hate a joint account.

LisaT186

We have run separate accounts until recently. Although we have a joint account it was really only opened for cheques that we recieved in joint names!

Up until now we have paid for things as and when out of whichever account could stomach it.

We are just about to change it all (oh the joy of changing direct debits) so that we each pay all of our salary bar equal amounts of spending money into the joint account and everything will be covered from there. Having sat down and really worked out our finances and arranged a remortgage, we will be able to overpay our mortgage each month. Everything will come out of the joint account, even the maintenance my dh pays for his son (well I like to boast about my step son) and what were my debts. My dh has a company car and I walk or bus to work. I have a car that he tends to drive more than me at weekends so we split all the costs of that anyway, we're hoping that this way everything will be simple and either of us can run the account, but we each have a little of our own that we can spend.