How do you and oh manage your money?

Jessii1990

My OH and I both have our own separate accounts and the one joint account. Our wages get paid into our separate accounts and then we both transfer a certain amount across into the joint account for rent and bills. I don't drive at the moment so OH pays for his own petrol and such. We each as well have separate savings accounts due to me just starting saving and OH already having significant amounts saved away.

This works out well for us as he gets paid weekly and i get paid monthly. So there's always money in there. Plus due to where i work i had to have a certain bank account so was easier to set up a second one for our joint spending. Plus as well its nice that whatever is left in our own accounts at the end is our own money for any extras we may want

pollypenny

We have always had a joint account. When we were first married OH was paid in cash and I put money in jars to pay bills. Nightmare.:o
We always sit down together, twice month now, and go through the finances. For the vast majority of our lives, it has meant very tight budgeting. I was at home for 7 years, then did my degree, only earning again at 35.

I am a firm believer in sharing, it's our money, not mine or his.

HeadAboveWater

OH and I have our own accounts. He bought the house before I met him and he's 70% of the mortgage already paid. I give him 'rent' money each month. We split the shopping and electric. Car is his but we now split insurance and maintenance costs.
We're chatting about buying a house together in the future (no idea if we're talking 1 year or 10!!), and we've agreed that we'll get a joint account for that.

Gloomendoom

How do you and oh manage your money?

We don't.

I'm not sure how it works but it does.

Bobster64

Husband pays for most as he's the high earner. We still pay the same percentage to everything. If I have spare cash I treat the family. If he has spare cash he does the same.

rachbc

Household account for bills, CB, CSA are paid into there and then we each pay in a fixed amount to cover bills, the rest of our wages we each keep to spend as we choose.

Oh earns different amounts each month - he has 3rd account serperate from his personal current account that he gets paid into and withdraws a set amount each month - any surplus is left for the months when he gets less.

Bufger

My wages go into my current account
Wifes wages into her current account

My income is X percentage higher than hers so I pay in a corresponding X% into the joint account and she pays in her percentage. (this is obviously worked out after knowing how much the bills, mortgage, shopping etc normally are).

My wife saves for the savings pot
I save for the mortgage overpayment pot.

We pay our own mobile phones and petrol/car expenses. Generally we end up sharing all money so if i know she has a large expense and will be left short then i'll chuck a load of money in her account etc. Its just easier to monitor and manage this way

retepetsir

Got married last year but have always run a similar system. Joint account is used for all main expenses, from mortgage through to petrol and food. Our salaries still go into our own accounts and then we each pay a proportion each month into the joint account via Standing Order which leaves some personal money for treats, Christmas/Birthdays, savings, etc. Anything left over from either joint account or personal ones after a few months will go in to savings.

heartbreak_star

We have separate accounts. I pay him a set amount each month, to cover my share of mortgage and bills.

Other than that, we're on our own. I would hate asking him for money, and if we had a joint account I'd feel guilty buying stuff in case it went from his contribution.

I'm struggling a bit at the minute as my MOT bill was £250 more than expected, but he knows this and has been getting shopping in. It does work.

HBS x

MentalMinnie

We are sh!te with money. No word of a lie. We have a joint account that everything goes into and comes out of, we have anywhere between £3-3.5k a month coming in, yet you can guarentee the week before payday we're dipping in to our overdraft. It's the groceries shopping that does it, i reckon we spend at least £500-600 a month in the supermarket. We've started to crackdown since christmas, but we still have a fair way to go.:eek: