Adult 'pocket money'

Dunroamin

Shouldn't you be discussing this with him to see whether he actually wants to organise it this way, before asking strangers about how to fine tune it?

Addiscomber

We are now both in our early 60s. I gave up work when the children were small and worked part time once the youngest was 4, shortly before he started school. Whatever either of us earns has always gone into the pot and we have both had pocket money. We have a joint account and savings accounts. Neither of us has our own current account, but I do have a couple of personal savings accounts.

We currently have £90 each per month pocket money, but we are not really big spenders as we just haven't had the money. Most months some of mine ends up in my savings, other months if I spend more I have to shift some back to the current account. DH takes his as cash at the beginning of the month. He goes to the pub most Fridays and he pays for that out of his pocket money. However if he needed something big like a new PC that would come out of the pot. I tend to pay for my own 'toys' as then I don't have to ask or justify what I want although DH says that I shouldn't pay myself. (See why he has been a keeper for 30 years?)

I find it really hard to get my head round the idea of a couple, especially if married or there are children in the equation, having unequal amounts of spending money. Surely a committed couple are an equal partnership regardless of who has the higher earning power or who does the child caring or whatever? Each contributes according to their different strengths and abilities.

Gloomendoom

Addiscomber wrote: »

I find it really hard to get my head round the idea of a couple, especially if married or there are children in the equation, having unequal amounts of spending money. Surely a committed couple are an equal partnership regardless of who has the higher earning power or who does the child caring or whatever? Each contributes according to their different strengths and abilities.

Everybody's situation is different. In my situation there is no need for 'spending money' in a normal day to day life or when on holiday. It's all just 'money' and gets spent as and when necessary. It works because both my wife and I are tight !!!!!! so don't need to worry about each other overspending.

hazyjo

peachyprice wrote: »

Nice in theory, but when one of you gets paid 4 weekly instead of monthly it just doesn't work in practice.

Blimey, I can't give every variation! Only making suggestions.

And not sure why it can't work anyway if one gets paid 4 weekly. You could both pay in weekly if that helped. Bills still need paying, it's not like you can turn round to the council and said sorry, I don't get paid for another three weeks so can you just hang on...

While I'm here, one that everyone seems to do is pay the Council Tax (or season tickets) over 10 months. I know you get two months 'off' at the end by overpaying, but I do find a set amount each month, every month (over 12) is much easier to budget for.

Jx

Gloomendoom

hazyjo wrote: »

Blimey, I can't give every variation! Only making suggestions.

And not sure why it can't work anyway if one gets paid 4 weekly

You and me both.

Delree

I'm single and but give myself a weekly budget (because some months are 5 week months) of £60 for smokes (yes me too) and lagers down the pub. This averages out to £260 per month. In addition I award myself an extra £20 on bank holidays and on any days annual leave I'm at home and not away.

peachyprice

Prothet_of_Doom wrote: »

Over time, you need to build a buffer, that equates to 4 weeks in your account, and then in the month that you get paid after the Direct debits go out, it's like a bonus!!:beer:

It still doesn't work unless the person being paid 4 weekly earns enough to cover all the bills and all the bills come out on the same day.

Addiscomber

hazyjo wrote: »

I know you get two months 'off' at the end by overpaying, but I do find a set amount each month, every month (over 12) is much easier to budget for.

Jx

I have always budgeted for the amount that is actually taken for each of the 10 months (or 8 months for Thames Water) and shoved that amount into savings in the 'off' months. When I wasn't working that was often all that we could save but we didn't miss it because we were used to having to pay that amount out.

People need to work out strategies for money being paid every 4 weeks as that is how State Pension comes.

Addiscomber

Gloomendoom wrote: »

Everybody's situation is different.

True.

Gloomendoom wrote: »

It works because both my wife and I are tight !!!!!! so don't need to worry about each other overspending.

It clearly doesn't work for some couples though. May be I'm too sensitive, but it quite upsets me when I see posts on here from (usually) the woman in a 'partnership' where they each pay half of the household bills and keep the rest of 'their' pay as spending money even when one (usually the man) earns significantly more than the other. That just seems blatantly unfair to me.

Gloomendoom

Addiscomber wrote: »

True.

It clearly doesn't work for some couples though. May be I'm too sensitive, but it quite upsets me when I see posts on here from (usually) the woman in a 'partnership' where they each pay half of the household bills and keep the rest of 'their' pay as spending money even when one (usually the man) earns significantly more than the other. That just seems blatantly unfair to me.

My wife and I earn roughly the same and, until recently, I paid the mortgage and all the houshold bills except food from my bank account. I didn't regard this as unfair as I am one of the 'our money' brigade and, as I said above, spending money is an alien concept to me/us.