I'm just wondering (nosey even) whether you share money with your partner?
DH and I have always had 1 bank account which all money goes into, we've never ever had that's my money dramas. However, some friends I have spoken to don't share money or bills with their partner. Some have to buy groceries and their childrens needs from their FA because hte partner pays bills from heir own money. I find it a little strange but only becuase that's not how we do it. I have no judgement on the subject, I just find it interesting.
DH and I have three accounts - his, mine and ours. but it's not about having "his money" or "my money" - it's more convenience for access matters! DH has to have access to cash while he's away working, so his account gets money for a loan payment put into it, and his living expenses - that way he can check ATM and not have to worry about what else is going on - if it's there, it's his to play with. if he doesn't spend it this week, we don't put as much in next week kwim?
my account is the mortgage account - mortgage money goes in there, and some "play" money for me. i only use it if i have to use cash for something.
everything else goes into our account and i pay all the bills and things out of it. all our money gets shared between us - doesn't matter who earned it - we are a couple and we share all assets and liabilities. there is no "his bills/my bills" mentality. but having "play money" helps us out - its that money we don't have to justify how it's spent kwim?
We have a savings account with no card access, an expenses account and a bills account - all joint.
For the bills account, we add up how much all the bills (approximately) should come to in a year, and then divide it up and a set amount goes in each fortnight. You can tell when we're expecting a big bill like car rego or something as it starts to look suspiciously full.
The expenses account has limited spending money for things we can't put on the credit card during the week.
The savings account has no card access to help protect the bulk of our money from being lost through ATM card skimming schemes (we once lost $1200 that way, so keep the accounts with cards as low as possible). This account is where all our money goes into and it goes out from here to the various other accounts.
We also have one individual account each that gives us a little bit of "pocket money". The money we have to spend on things we don't need to justify... but since me going on maternity leave, it's more a source of emergency money rather than money to be frittered away on extravagances.
We've never had an issue of what's "his" and "mine", but it all comes down to the way we've set things up.
i share everything.... i support hubbie to and have done for about 98% of the time, hubbie has a trust his in and his family made it perfectly clear to me it never gonna be anyone elses bar his. understandable too. I paid for the wedding too heck i pay everything lol
I think in a really committed relationship there is no such thing as 'my' money or 'your' money. It is all our money, and has been since we first moved in with each other. We have a joint bank account where DH's pay goes. I also have 'my' bank account that I have had since kindy, where any pay I get goes (ie, FTB, Work), but DH has a card to this account and complete access via the internet. Mind you We also discuss any spending that takes place too, even as small as $5.
This is something we've put a bit of thought into!
Initially when we bought our house together we had one joint account, but found we were spending too much money on crap.
Now we have three bank accounts - ours, his and mine. Everything goes into the joint account and all the bills, mortgage and other agreed expenses come out of that account. Otherwise we don't touch the joint account.
We call our own bank accounts our 'unjustifiable' money. Every fortnight our 'allowances' get automatically transferred from our joint account into our unjustifiable accounts. Our allowances are now $300 per fortnight and that is our play money. I use mine to buy books, gym, lunch, movies, go out etc. Hence the 'unjustifiable' part of it. We don't have to justify this to each other.
We have found this to be a really good system. We talk about big purchases (heater for the bedroom being a recent one) and then buy that out of joint money.
I have my account and DH has his account - its ALL OUR MONEY but we just havnt gotten around to changing it all over yet, DH pays all the bills out of his account and the mortgage and car loans come out of mine.
I have to say though that just because you have seperate accounts does not mean that you are not committed to each other!! I works for us and now that I am on Matt leave I dont get paid at all now and DH pays all the bills and mortgage - untill I go back to work. We looks at DH's account and after the bills we know what we have left - we know that the mortgage comes out of mine and the cars to we dont have to worry about that.
As we are going to see this house (my name) and buy a farm ASAP then I think that we will have a joint accoutn then - but we will see.
We have one account where FA payments go into and his pay goes into but we do have seperate savings accounts and of course his has the most money as we have doctors bills and what not that I have to pay.
We have had a joint account for as long as i can remember!
Tinkerbell, we're the same as you, our money goes into one joint account and we have another joint online savings account. All our bills and spending money come out of there. We do have our own separate accounts from before we were together but we're too lazy to close them
Share everything (except some investments from before we were ever together that are probably not worth anything anymore anyway).
Gives me the sh*** when IL's refer to everything as DH's when most of it was initially made possible by MY money. Just because he now has a "good" job he must be the one who provided everything....However they will never know this is not the case as I don't think it's any of their business so I just have to put up with their archaic attitutes.
We have a shared bank account. Everything goes in and out of that. We do also have a savings account but well, it doesn't get touched much because we are trying to watch it grow!
My money, Your money
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heck i pay everything lol
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