Anyone any good with percentages?

victory

Well if it works for you whose to say it is not the way they do it?:D

maman

victory wrote: »

Well if it works for you whose to say it is not the way they do it?:D

I won't go into detail about how DH and I organise our finances OP but I definitely agree with you about having separate accounts. We have a personal account each and another account (that I manage as DH is happy to let me) for household expenditure. We also have our own savings accounts and isas rather than leave all surplus in current accounts. When we have a joint expense (e.g. home improvement, holiday etc) we split it. I do earn a bit more than DH but he likes it 50:50. It just means I have a bit more savings.

I completely disagree that organising our money separately like this is any less of a commitment or a partnership. We just like a bit of financial independence. I cringe when I see the names on joint accounts they make me feel as if the couple are joined at the hip without separate personalities or that one half of the couple controls the others spending. I must be strange!

maman

Angelic wrote: »

I like the idea done joint account for bills but shared isa's , saving accounts etc doesn't appeal at all.
In the past i've bought a partner biggish gifts and paid my way so I know the issue is purely emotional and linked to other issues rather than being miserly.

If married are savings legally owned by both spouses:o?

That would depend on your income/saving potential surely as there's an annual limit to isas. I know the interest rate is poor on savings accounts but it's better than the majorty of current accounts.

claire16c

Yes you cant have a shared isa, it needs to be in one name only.

Me and DH have two - one in each name. We started filling one up, then once the cash allowance was reached we started filling up the other one. anything more than that goes in a joint savings account.

cats2012

I don't think anyone on here who has joint finances (myself included) thinks we're "joined at the hip" but, if we're married or together long term, we're saving for the same house, the same children, the same family, same future therefore everything goes into the same pot. If we have money spare for nice things for ourselves then great, but the pot for our house and family is the priority so why would we need our "own" cash? We do sort of control each others spending but only because we're building a life together so we are a unit.

Oh, and for gifts etc in my personal situation just have our own credit cards that come out the same account but the other person can only ever see the total

Treevo

cats2012 wrote: »

I don't think anyone on here who has joint finances (myself included) thinks we're "joined at the hip" but, if we're married or together long term, we're saving for the same house, the same children, the same family, same future therefore everything goes into the same pot. If we have money spare for nice things for ourselves then great, but the pot for our house and family is the priority so why would we need our "own" cash? We do sort of control each others spending but only because we're building a life together so we are a unit.

Oh, and for gifts etc in my personal situation just have our own credit cards that come out the same account but the other person can only ever see the total

But some who do as you do think those of us who are different aren't committed.

crimson.addict

i would never pool all my money in with another. If I was living with someone I would suggest having a joint account (depending on the other persons credit history) that each of us would pay an equal amount into. That would pay for bills and such for the house, the rest of the money would remain separate to do with as the other wished.

If i wanted to go out and buy a gift for myself or someone else i would rather take that money from my own savings. If the savings were joint i would feel bad taking it as then my oh would have paid more in than me and it wouldn't be fair.

Maybe it comes from my ex OH moaning every time i spent my own money on treating my family because he never had any money after he paid all his bills from lending money where as i had never leant any money so all my wages were mine. He didn't moan when i took over managing his money and got him out of debt though........

Spendless

What I do is wait till DH gets paid and then I charge him for the hours I've spent looking after our kids. I have different rates depending on if I'm doing school runs, it's school hols or he's been away overnight. When he's paid that incoice, I then send a % back to the same account as my share of paying the bills. I then do the same with any money left over, we are saving. Of course I then have to adjust this if I have some temping work as we pay for outside childcare, or is he's used hols when the kids are off school etc.





Just joking.

choccybuttons

Honestly I don't know what the obsession is on this board for people in committed relationships to have joint accounts. Having been married a long time we have NEVER had a joint account and it works perfectly well for us (yes we have kids too).

If one of you is prone to spending or bad credit why in earth would u want a joint account.

Its the system that works for you. I take care of all the bills. Dh gives me a percentage of his wages so we both have the same level of spending money left over once everything is paid. He is happy because the money he has left is his and I know everything is paid. A good couple works to their strengths

VK-2008

I don't feel whether you have joint or individual accounts is any reflection on how solid your relationship is with someone
As mentioned me and dh have joint accounts but I know others who do it separate no way does that mean my relationship is more solid over someone who does it separate and vice versa

Op I get what you mean about gifts Etc dh doesn't feel he can surprise me much as I take to do with finances and know everything going in and out the accounts
We do have solo accounts however just don't use them
But we have started just this month putting some money aside for gifts to each other