One pot or separate accounts?

lostinrates

74jax wrote: »

Its in one name one with us too and we're both ok with that.

After marriage (for reasons of personal financial protection) , I'd be happy with it.

74jax

lostinrates wrote: »

After marriage (for reasons of personal financial protection) , I'd be happy with it.

Worked ok before marriage was ok for us too, but had other factors involved.

Domayne

I'm not currently in a relationship but I don't think I'd ever want to have a joint account with anyone...purely because I'm completely cynical and don't believe in 'forever' and I don't want to end up being one of these people whose partner leaves them and completely wipes them out ^_^

Scale_Rule

2 Joint Accounts, 1 for monthly bills (salaries go into this) the other for daily spending (transfer of the monthly spending goes to this). Seems to work fine for us. Don't understand the 'I can't surprise him/her' argument - just pay cash.

Buzzybee90

FBaby wrote: »

It all comes down to individual need of independence. Both my husband and I are very independent people who had to be solely responsible for ourselves for years. However much we are committed to each other and have nothing to hide from one another, both would hate not having some level of financial independence, where we can make decisions on our own without having to pass by the other to get the go ahead.

I want to be able to surprise him with a present without him noticing it before I give it to him and knowing how much it costs. I want to be able to go on holidays with my kids without having to justify that it is reasonable to spend the amount I am. All we owe to each other is to save towards common goals and to never ever to into debts. The rest is for us to manage.

Your situation isn't really comparable if you had separate children though is it, as they're always going to be your number 1. It's not really about being independent, as long as your not relying on someone else to get by (which is fine in loads of situations!), them you are independent.

There is no right or wrong here.

74jax

Scale_Rule wrote: »

2 Joint Accounts, 1 for monthly bills (salaries go into this) the other for daily spending (transfer of the monthly spending goes to this). Seems to work fine for us. Don't understand the 'I can't surprise him/her' argument - just pay cash.

Quite a few of the surprises for hubby were several thousand of pounds, even though he doesn't check his accounts that often, he'd notice a large withdrawal and expect something 'large' as a surprise coming if you know what I mean :rotfl:

tayforth

Woolwich_Kim wrote: »

I think those who earn more will end up paying more regardless of set up anyway.

Those who have separate accounts, how do you compromise on disagreements? like, if you have children and you want to buy your kid a new coat but your partner doesn't think its necessary etc.

Another couple I know split things equally. The one who earns less (female) is more resentful as her boyfriend has a larger family and circle of friends so 'his people' are over more, using 'their' utilities and eating 'their' food etc. All his fault though as he insists on not paying more than he should as normally she would be laid back on these matters of 'his people'.

Er, what?

What kind of relationship is that?

PenguinOfDeath

We both have our own standard accounts that our wages get paid into, we transfer an amount each month when we get paid into an account set up before we bought the house.

This ensures all bills and house essentials get paid with a slow pot building up for holidays, meals out and other luxuries out of the joint with plenty left over for us each to enjoy separately i.e. he has a hobby that I have no interest in therefore I don't want to pay for it, I have a car (he doesn't drive) and more of a shopping habit!

We also each have an ISA that is our own only - this is my back up pot, small as it is.

Woolwich_Kim wrote: »

Those with different pots for joint and personal things, does that mean you carry different cards and pay for things depending on what/who it's for?

What if, say, you're in sainsburys and buy food for the family buy also whilst there you buy your car some accessories and some clothing for yourself. Do you then make 2 separate transactions and pay from different cards?

In this situation I'd generally put it on the joint card, depending on how much the spilt was I'd either send over some money from my account to the joint, or leave it as these things generally even themselves up as he would do a similar thing sometime down the line.

This has happened when both of us has been present, one would pay for some items on the joint, then the other do a separate transaction on our own car, using the double points till spit or the price match from the first transaction

claire16c

lostinrates wrote: »

Some times its not who got what though Claire, its where long term goals differ. For example, where family profit 'equally' from spending, just the people do not because the priorities of the people are different. (E.g., savings plans, home improvements, holidays ).

It all boils down to that same old boring thing of communication and it being right for the couple concerned.

Anatidaephobia, I wouldn't personally get joint account before marriage. (In our relationship we have quite a few separate accounts and a joint account. I mainly use my maiden name account I have had for years because its like a comfortable old shoe and I can remember my PIN number for it:o)

But surely your priorities would be the same or similar if you are in a relationship with someone? Otherwise why are you with them if you don't have common goals?

If I say wanted to save for having a family and buying a house & my partner wanted to spend all the money on I don't know, cars, gadgets and nights out, we'd hardly be compatible?!

Is that what you meant?

zeus2014

We have seperate- I owned my own place,he rented. He then moved in with me and just gave me half for bills as it was easier and he doesn't like being organised lol. We have separate savings accounts as well.