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1
Posted on 10/15/11 at 7:04 am to TexasHog22
I buy most big items through my company so I can expense them.
Posted on 10/15/11 at 9:30 am to yellowfin
Joint accounts. Even her accounts that were at her credit union, she added me onto.
Posted on 10/15/11 at 10:27 am to Kingwood Tiger
Joint account here. I pay the bills as my wife gets stressed taking care of all that.
We to date in 10 years have never had a money argument. We talk about what we are going to buy before we buy it on anything "big ticket".
She can buy whatever she wants and same for me, so long as I ask her permission first like in any good marriage.
We to date in 10 years have never had a money argument. We talk about what we are going to buy before we buy it on anything "big ticket".
She can buy whatever she wants and same for me, so long as I ask her permission first like in any good marriage.
Posted on 10/15/11 at 9:44 pm to Da Hammer
Separate accounts. We each pay certain bills each month. We make similar amounts of money, but we have different money management styles and I would never want to share checking. I like a big cushion in my checking account and he is fine getting his down to $50. We do have joint savings accounts, but our system works for us!
Posted on 10/16/11 at 8:06 am to Volumnia
We have a joint account to pay the bills (allocate contributions based on income) and separate accounts to have what's leftover to spend anyway we want, guilt-free. (If she wants to buy a $300 pair of shoes, that's her thing)
This works for us as I'm more of a saver and my wife CAN be a consumer if guidelines aren't established.
We don't argue about money.
This works for us as I'm more of a saver and my wife CAN be a consumer if guidelines aren't established.
We don't argue about money.
Posted on 10/16/11 at 10:35 am to Rebman601
My wife and I agreed that her money is her money and my money is her money.....
Posted on 10/16/11 at 11:32 am to LSURussian
Separate checking accounts, but we share a credit card for groceries. If I start to make significantly more though I'll find more ways to help her. But right now our salaries are basically the same as we are recent college grads.
Posted on 10/16/11 at 11:39 am to Wilfred
quote:
If I start to make significantly more though I'll find more ways to help her.
Sure is nice of you to help out your wifePosted on 10/16/11 at 11:40 am to The Easter Bunny
Not married
Posted on 10/16/11 at 12:44 pm to Rebman601
We have multiple joint checking accounts, a joint brokerage account, and both have individual brokerage accounts and 401k/IRAs/Roths, plus jointly owned CD's, I and EE bonds. It's been that way since we got married 19 years ago, it really doesn't matter because we trust each other and neither of us would go spend a large sum without consulting the other, and I manage all of it and control the passwords, so no fear here. I would say we have a loose monthly budget, which is probably +/- 25% a month depending on what is happening socially or travelling at the time.
Posted on 10/16/11 at 1:31 pm to LSURussian
quote:
My wife and I agreed that her money is her money and my money is her money.....
Yea, my wife and I have a very similar agreement.
This post was edited on 10/16/11 at 1:32 pm
Posted on 10/16/11 at 2:08 pm to Rebman601
I've done both in all permutations.
Wife No. 1 and I had combined accounts. We both worked. We never seemed to have enough money even though I lived like a pauper. Discovered that she had an addiction to shopping. She bought new clothes EVERY DAY...24/7/365.
She hid clothes in the trunk of the car if I was already home and took them out when I was away. I discovered the problem when she told me to put 10 large trash bags out for the garbage because 'she cleaned out her closet."
I looked in the bags. All new clothes with tags still on them.
After several other issues I demanded separate accounts and we would share mutual bills like food, utilities, mortgage, etc. But personal spending was strictly separated.
After a couple of years she was in debt and I had saved a lot of money....something like 50% of my monthly pay check.
After the divorce I told Wife No. 2 that I wanted separate accounts. She agreed and said that she was very bad at handling money. This time I monitored her spending habits like I should have done with Wife No. 1. After a year I discovered that her spending was normal.
We combined accounts after one year. This has worked very well for us as we celebrate our 17th anniversary next month.
BTW, Wife No. 1 re-married and her new husband has control over their finances. They're doing very well with separate accounts.
Wife No. 1 and I had combined accounts. We both worked. We never seemed to have enough money even though I lived like a pauper. Discovered that she had an addiction to shopping. She bought new clothes EVERY DAY...24/7/365.
She hid clothes in the trunk of the car if I was already home and took them out when I was away. I discovered the problem when she told me to put 10 large trash bags out for the garbage because 'she cleaned out her closet."
I looked in the bags. All new clothes with tags still on them.
After several other issues I demanded separate accounts and we would share mutual bills like food, utilities, mortgage, etc. But personal spending was strictly separated.
After a couple of years she was in debt and I had saved a lot of money....something like 50% of my monthly pay check.
After the divorce I told Wife No. 2 that I wanted separate accounts. She agreed and said that she was very bad at handling money. This time I monitored her spending habits like I should have done with Wife No. 1. After a year I discovered that her spending was normal.
We combined accounts after one year. This has worked very well for us as we celebrate our 17th anniversary next month.
BTW, Wife No. 1 re-married and her new husband has control over their finances. They're doing very well with separate accounts.
Posted on 10/16/11 at 10:10 pm to Rebman601
When first married, my wife and I had separate accounts and a joint account. This seemed to work well for us at the time. Before long, we realized we had pretty similar financial goals and just merged to a common account. Since we have similar views it works for us, but I wouldn't begrudge separate accounts if you have radically different views on money.
Somewhere over the years, including having two kids, we evolved to our current system.
Every six months or a year, we talk about our mid-range and long-term life and financial goals. I connect the dots between now and then, along with our financial strategy, and take money "off the top" every month for investing to get us there. She is welcome to spend everything else each month on herself and the kids, as long as we can pay off the credit card in full each month. In the odd event I want to buy something reasonably expensive, we work it in.
My bonuses go into a separate long-term account, which we decide on if we want to invest (not included in aforementioned investment money) or just splurge every so often on something not covered in the monthly spending/budget.
In simple terms, my wife and I discuss where we want our family to go over the long haul that is different from where we are now. I take that off the top. If she can cut costs within the monthly budget, she can blow it all on clothes and manicures for all I care. This freedom motivates her to manage to the monthly budget in whichever manner works for her.
Somewhere over the years, including having two kids, we evolved to our current system.
Every six months or a year, we talk about our mid-range and long-term life and financial goals. I connect the dots between now and then, along with our financial strategy, and take money "off the top" every month for investing to get us there. She is welcome to spend everything else each month on herself and the kids, as long as we can pay off the credit card in full each month. In the odd event I want to buy something reasonably expensive, we work it in.
My bonuses go into a separate long-term account, which we decide on if we want to invest (not included in aforementioned investment money) or just splurge every so often on something not covered in the monthly spending/budget.
In simple terms, my wife and I discuss where we want our family to go over the long haul that is different from where we are now. I take that off the top. If she can cut costs within the monthly budget, she can blow it all on clothes and manicures for all I care. This freedom motivates her to manage to the monthly budget in whichever manner works for her.
This post was edited on 10/16/11 at 10:20 pm
Posted on 10/16/11 at 11:45 pm to Rebman601
When I first met my husband, he had a high pressure job that required constant travel. He was so busy that his bills would pile up and he would sit down about once a month and write checks.
We spent 1 year negotiating the terms of our eventual marriage. I have not worked in 25 years, but I did bring assets to the marriage and worked before our son was born. We mingled our assets.
Because of his job, my husband did not want to take shared responsibility for our children or home. He wanted a pressure free, organized home life and we had everything worked out prior to marriage.
Everything we have is joint except our retirement arrangements. I do have a couple of credit cards in my name only, but all real estate, banking, brokerage etc is joint. I manage his retirement accounts, all investments and pay the bills. We have power of attorney documents which are very important when you age.
This arrangement has worked for us, but every couple has different goals. It is better to have the issues of money, religion, and children settled before you marry.
We spent 1 year negotiating the terms of our eventual marriage. I have not worked in 25 years, but I did bring assets to the marriage and worked before our son was born. We mingled our assets.
Because of his job, my husband did not want to take shared responsibility for our children or home. He wanted a pressure free, organized home life and we had everything worked out prior to marriage.
Everything we have is joint except our retirement arrangements. I do have a couple of credit cards in my name only, but all real estate, banking, brokerage etc is joint. I manage his retirement accounts, all investments and pay the bills. We have power of attorney documents which are very important when you age.
This arrangement has worked for us, but every couple has different goals. It is better to have the issues of money, religion, and children settled before you marry.
Posted on 10/17/11 at 9:02 am to Blakely Bimbo
wife and I have separate accounts. I pay the house from my account, and I pay utilities and most groceries from her account. I make almost twice as much as her but she spends less and has a bigger account. I track all finances with quicken and will get my cut if shite ever goes down.
Posted on 10/18/11 at 11:54 pm to Rebman601
My parents had 3 accounts and a system that seemed to work.
1 account was joint and it was for everything that was bills, food, for the house, or for the family, kids clothes, gas, cars, or for health, etc.
The other 2 accounts were their separate accounts that they could use for whatever they wanted to.
My father owned a business so his earnings varied. What they did was send 90% of everything they made and 5% to each account. This way everything was equal and my dad couldn't complain when my wife bought clothes with her own account and my mom couldn't complain when he bought some stupid comic book collection with his own account.
1 account was joint and it was for everything that was bills, food, for the house, or for the family, kids clothes, gas, cars, or for health, etc.
The other 2 accounts were their separate accounts that they could use for whatever they wanted to.
My father owned a business so his earnings varied. What they did was send 90% of everything they made and 5% to each account. This way everything was equal and my dad couldn't complain when my wife bought clothes with her own account and my mom couldn't complain when he bought some stupid comic book collection with his own account.
Posted on 10/19/11 at 4:26 pm to Rebman601
Separate accounts. She pays the bills. I pay the mortgage. She pays her credit card. I pay mine. I think we're even when it comes to groceries or food. We've never had a argument about money. she has plenty in her account. I have plenty in mine. The only thing that's joint is our Fidelity account. We pretty much both contribute her and there. We make about the same income most years.
This post was edited on 10/19/11 at 4:28 pm
Posted on 10/19/11 at 4:40 pm to Rebman601
When I was married we had seperate accounts.
I made slightly more than she, I bought the house before we married.
I paid the mortgage and utilities and she bought the groceries. I convinced her to max out her 401k, and had set up a couple of Roths that we both contrbuted to. What money she had left over was hers.
We were able to save quite a bit of money and ended up buying another house and renting the first.
When we split, we sold the second house, split the profit and that was it as far as community property.
Now I'm back living in the rent house.
I realize that you aren't thinking about what'll happen when you split up, but it happens - a lot.
Expect the worst and hope for the best.
I made slightly more than she, I bought the house before we married.
I paid the mortgage and utilities and she bought the groceries. I convinced her to max out her 401k, and had set up a couple of Roths that we both contrbuted to. What money she had left over was hers.
We were able to save quite a bit of money and ended up buying another house and renting the first.
When we split, we sold the second house, split the profit and that was it as far as community property.
Now I'm back living in the rent house.
I realize that you aren't thinking about what'll happen when you split up, but it happens - a lot.
Expect the worst and hope for the best.
Posted on 10/19/11 at 7:15 pm to WildTchoupitoulas
you didn't get any 401k or roths?
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