Any advice for a couple moving in together

emilykf

I agree that different things work for different people! We have a joint savings account for holidays (our weakness!) that we both pay a set amount into each month. Any little lottery wins or money given to us etc. also goes in there. Apart from that we pay 50/50 towards the mortgage/bills/groceries etc. He pays for all of the car stuff (I don't drive, it's his car) apart from if we go away for the weekend etc., I'll pay half to fill up the tank. I buy all Christmas/Birthday presents for both families, although we don't have that many to buy for!

We're not married, and I earn slightly more than my OH (but he's also more careful with money than me by nature so we end up with practically the same amount left over at the end of the month! )

VfM4meplse

slicence wrote: »

My current boyfriend earns more or less double what I earn, and I'm working full time. Does anyone have a suggestion on how we can split the bills? We're both happy to get a joint account for household bills and rent, and we're both going to arrange to pay a fixed amount each month into this account.

emilykf wrote: »

I agree that different things work for different people!

I would be very interested to know how your OH thinks you should manage your money between you.

If you're financially in the same page, it's a good place to start. If your attitudes to expenditure are radically different, I would be worried because it's always going to be an albatross. It's much easier to live a nice life if you share the same financial goals, and money is not a concern.

getmore4less

IT's all well a good creating joint finances and thinking about who pays for what but more important is the exit planning work through that.
(just read a few of the we have split uop threads)

Don't create joint finances when you don't have to, the first event that does that is a joint mortgage.

loulou123

Me and hubby have separate accounts. He earns double what I do.

He pays the mortgage, joint bills (ie water, electric) we split 50/50, food we take it in turns buying, pay our own mobile bills, he pays for the car (i don't drive) I pay for broadband (as he rarely uses it)

This works for us pretty well, and although I'm the lower earner I'd be reluctant to have joint account, as I'm very careful with money and hubby is the complete opposite!

katie1812

Like some of the other posters, our wages get paid into one account and everything comes out of it. Would you do this even though you're not married? It works well... We pretty much buy anything personally if we need to and it comes out of our account.
If not could you do it as a percentage, or one of you does rent/mortgage and the other bills or however it would be best and fair?

Mummymoo1987

We also have a joint bank account . All our money goes into the same and as I'm now at home with the children he earns five times what I do but all money is still seen as equal and we talk about every expenditure that's made so we know where we are . Oh has always enforced the fact that our money is joint to make sure I feel happy enough to spend money on myself which I cannot complain about .

CupOfChai

I don't think I've seen anyone yet who says they and their OH don't have a joint account. We don't. Some of the bills come out of my account, some out of his account. We split them 50/50 as we both earn the same amount, each paying the other their share when the bill arrives. It works for us. (ETA just noticed someone else just up the page says they have separate accounts as well)

I think before moving in you have to have a Big Talk with your OH about all this and sort out what will suit the both of YOU. With us, it was probably made much easier by us both earning about the same amount and both having very similar views on money, but you need to work out where each of you stand on the issues involved and come to an agreement you're both happy with.

I'd say you need to also have a talk to work out who is doing what with regards chores etc as well, as a good friend of mine is always saying "Men have NO domestic logic!"

VfM4meplse

CupOfChai wrote: »

I'd say you need to also have a talk to work out who is doing what with regards chores etc as well, as a good friend of mine is always saying "Men have NO domestic logic!"

Lol - like the belief that toilets clean themselves :rotfl:

Mojisola

Read through this information so that you know where you both stand legally - https://www.advicenow.org.uk/living-together/

If you are going to be a couple, think about becoming each other's NOK for medical purposes - https://www.royalfree.nhs.uk/pdf/next_of_kin002.pdf

Split the bills up so that some have your name and some have his so that you can produce them when asked for proof of identity/address.

Do talk about the work that needs to be done to keep the home running smoothly. If you don't work together, resentment will build and that will lead to arguments.

daisiegg

CupOfChai wrote: »

I don't think I've seen anyone yet who says they and their OH don't have a joint account. We don't. Some of the bills come out of my account, some out of his account. We split them 50/50 as we both earn the same amount, each paying the other their share when the bill arrives. It works for us. (ETA just noticed someone else just up the page says they have separate accounts as well)

I think before moving in you have to have a Big Talk with your OH about all this and sort out what will suit the both of YOU. With us, it was probably made much easier by us both earning about the same amount and both having very similar views on money, but you need to work out where each of you stand on the issues involved and come to an agreement you're both happy with.

I'd say you need to also have a talk to work out who is doing what with regards chores etc as well, as a good friend of mine is always saying "Men have NO domestic logic!"

We don't either and we'ee nearly married!

OH earns about twelve times as much as me. He pays the mortgage and the utility bills, I pay a bit of money into his account towards this each month. I pay the phone, TV and Internet. He pays pretty much everything else, the rest of my money (not a huge amount as I only work part time) is mine to do what I want with.

I'm not really sure why we don't have a joint account. We don't really need one...I can't really think of a good reason to get one...