One pot or separate accounts?

Woolwich_Kim

What's your set up in your relationship and why?

I've always liked the idea of everything one pot. I think it's easier and causes less resentment.

Georgiegirl256

Always had seperate accounts. All bills come out of husbands account, and when I was working, I transferred over a set amount each month. It was never 50/50 though, as he earns ALOT more than I ever did.

Now I'm not working, he transfers money across to my account to cover my phone bill, car insurance etc, and so I have abit of spends. But for the main, I just have his cash card in my bag, to buy the shopping with, and any other bits and pieces that are needed, and he just takes it back when he goes out or he needs it for some reason.

If the situation was reversed, he would have full control of my money too if needs be, what's mine is yours and all that!

We've never felt the need to open amount account. We're not hiding anything, he knows what's in my account, and I know what's in his.

Woolwich_Kim

Georgiegirl256 wrote: »

Always had seperate accounts. All bills come out of husbands account, and when I was working, I transferred over a set amount each month. It was never 50/50 though, as he earns ALOT more than I ever did.

Now I'm not working, he transfers money across to my account to cover my phone bill, car insurance etc, and so I have abit of spends. But for the main, I just have his cash card in my bag, to buy the shopping with, and any other bits and pieces that are needed, and he just takes it back when he goes out or he needs it for some reason.

If the situation was reversed, he would have full control of my money too if needs be, what's mine is yours and all that!

We've never felt the need to open amount account. We're not hiding anything, he knows what's in my account, and I know what's in his.

That's nice.

Isn't it therefore easier to just have one pot?

I know now with internet banking it's easier to transfer money over and all that but you could just have 1 pot and be done with it.

meg72

For 30 years I had joint account with my husband, either to sign, but when the marriage ran into difficulty he cleared the accounts and left me pennyless, so if I had my time again I would have kept a savings account in my own name.

Seanymph

We have one each, and one together.

paulineb_2

Woolwich_Kim wrote: »

That's nice.

Isn't it therefore easier to just have one pot?

I know now with internet banking it's easier to transfer money over and all that but you could just have 1 pot and be done with it.

Maybe some people dont want to have one pot.

I think theres been a lot of debate on this subject on here recently.

Whatever works for people works for people. If thats joint accounts or separate accounts fair enough.

A friend of my mums husband woke up one day and left her. She died a few years ago from cancer, but she never found out where he went. His family knew but didnt tell her.

He cleaned out the joint account when he left. I dont think for one minute thats a typical situation, but it can happen.

If people want to have separate bank accounts, absolutely their choice.

Tropez

We pay into a joint account to cover household expenses. This is based on a percentage of our incomes.

The rest is kept separate.

Mrs_Soup

We have both, joint account for bills and individual account into which is transferred a small amount of personal spending money each month. We have separate savings account, not that there is much in them.

Kayalana99

Can't really understand why people have one pot unless they are well off financially - yes you are a couple but you have separate needs, one wants their hair doing one wants new trainers etc...if you have one pot then you either have to ask the other one for permission to take money out - or you have enough money not to worry about it.

To me - it over complicates things, because of being able to spilt spare money and have done with it I felt if you had one pot again - you'd have to discuss what you did with any left over as well.

I don't think it's worth explaining how me and my OH sort our money out as it's to complicated for him !

ETA: I also think it would cause more resentment depending on the one pot set up - i.e taking it out when you want / need it instead of splitting it evenly might make the other notice your spending more.

Hermia

paulineb wrote: »

He cleaned out the joint account when he left. I dont think for one minute thats a typical situation, but it can happen.

I sadly know quite a few people that has happened to. In two cases the guy transferred all the savings accounts into the current account before emptying it.

I like the joint account and two separate account thing. I could never just have a joint account. Ultimately there is no right or wrong, just what you feel comfortable with.

anotheruser

I'm a bit like Tropez.

We both get paid into our own accounts, then transfer a set amount to our joint account, thus leaving us with our own spending money (for presents and such) but the joint account for bills, food shopping, clothes, presents from us to other people and everything like that.

This way we get the best of both worlds.

Georgiegirl256 wrote: »

Now I'm not working, he transfers money across to my account to cover my phone bill, car insurance etc, and so I have abit of spends.

A bit like pocket money? :P

paulineb wrote: »

Maybe some people dont want to have one pot.

A friend of my mums husband woke up one day and left her. He cleaned out the joint account when he left.

I sort of agree but then at the same time, having separate accounts (for me) doesn't seem like living together properly.

I insist that all bills be in both of our names. Car insurance, phones, magazine subscriptions, some things can't be helped but would you allow a house to be in one persons name? Do you not trust the person you are with completely?
For me, I simply see people who operate separate accounts don't trust their partner - but I can be very short sighted sometimes.