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Splitting bills?
Just curious......I was on theknot and read a post about how those that live together split their bills 50/50, or one week DH/DF buys groceries and the next she buys them and what not. It was weird b/c every poster did the same thing....Does anyone do this? FI and I live together and we put all of our $ into one account and the bills get paid out of it and some of it goes into a savings account. I felt like an odd ball b/c I was the only one where we actually put all the $ in one account.
I was just wondering how everyone else does it b/c I found it so confusing reading these posts....we consider the $ "our" money not mine or his. I can't imagine saying "ok, I bought food last week so you get it this week"...we aren 't roommates.
What does everyone else do
Re: Splitting bills?
We have one account - it's just easier for us that way. I do have my separate checking acct for my side business, so I can use that to buy things for myself.
I know plenty of couples that keep things separate though. Or they do 1 joint and 2 individual checking accts.
We keep seperate accounts. We have one joint, the 'wedding' account, but mainly use our own accounts. We split the bills and alternate when at the store. I love it, my husband is a spender and I'm a saver, so it make us both feel secure with our money. We will probably join our money more when we have kids, but seperate works better now.
Right now we have our own checking accts, savings accts, investment acccts and IRAs outside of employer's. We opened up a joint checking for WR stuff.
After we get married we plan on using the joint checking as our main bill paying checking acct and we'll keep our own checking for funstuff and splurge spending and for buying surprises for each other so we don't find out. We'll transfer set amounts in to the joint acct upon each payday, but the amt will vary according to our income (I make more than him so I"ll contribute more). We'll also be merging our investment accts and regular savings accts and probably put them all in a trust.
We split everything down the middle. We have our own accounts and two joint accounts. I tell H how much he owns for our joint bills and he transfers the $$ to our joint account and then I transfer it to my checking to pay the bills. We also alternate each week at the grocery store. Our big joint purchases also come out of that joint account (remodeling stuff, TV, furniture).
We're both savers and it just seems to work out best that way. Our second joint account is where we have our 'house fund' and we each put $$ in there each pay check. We also each have our own 'saftey' account that we put $$ into each paycheck and don't touch.
We're like most of the pp. We have one joint checking, a joint savings and then our own accounts. This is how my parents always did it and his mom and dad are divorced, so he saw this as totally logical.
We each put in X amount from each paycheck into our checking to pay the bills. If we have a build-up of cash in there, we'll transfer it to our joint savings, but we've been bad about that. The savings is mostly wedding money and bonuses right now, but we want to start a better joint savings plan this year.
We have a joint checking and joint savings account and we each have our own savings account that we put like $25/per pay period in. I use that money for holiday gifts for DH (mostly Christmas & birthday) so that he can't see what I buy him -- he stalks our accounts several tiems a day, nothing gets by him, lol.
All of our bills and expenses come out of the joint checking. We don't really touch the savings, we're trying to save for a family vacation.
I don't think there is a right or wrong way to do it, this just works out best for us. Especially because I am TERRIBLE with money.. I have never balanced a check book in my life!
We have separate checking accounts. Mainly becasue DH is still "learning about money" and constantly messes up his account (we used to have TERRIBLE fights about money, he just couldnt comprehend that you pay the bills FIRST then you take what is left over and go play, he did it the other way around. He had no bills prior to moving in with me and just couldnt get it through his skull that he does now! We would also get in fights cause he would tell me that he isnt "used to" paying bills etc.. and I had to give him time, I explained that that excuse is not going to work with the gas company, it wont work with me either! ).
I also know if we had a shared account I would try to police his spending too much. We have separate accounts and when he gets paid he gives me X amount of money and I pay all of the bills. This system works well for us. We also hand money back and forth when the other one needs it, so we do (finally, it took years to get there) consider it "our" money.
We've tried many different ways b/c of DH's lack of the ability to NOT overdraw out acct. What I've finally resorted to is this, and it works for us.
We have a joint savings & joint checking that neither of us tap mac from unless we are together and both agree to it, or it's an emergency and we let the other one know about it same day.
The joint acct is for monthly bills. His paycheck gets directly deposited into the accounts.
My paycheck is cashed and it is used for groceries, gas for our cars and if there is any left over maybe a bottle of wine or something fun for us to do together or just a couple of days of lunch we buy while at work instead of packing lunch.
This works b/c I make sure DH has money for his daily needs in cash which keeps him out of our joint acct and not bouncing the bills!
Diagnosed with High FSH, low folical count, and absent anti mullerian count 08/11
I was thinking that too!
Diagnosed with High FSH, low folical count, and absent anti mullerian count 08/11
Before we were married and we lived together we had seperate checking and savings accounts...we would split the utilities down the middle and share my morgage by paying it everyother month
Now that we are married we have a joint checking and savings...DH pays all the bills b/c he likes to pay them online...i put them him his lunchbox every day...i don't like the "my money" "your money" mind set...probably b/c my parents and his parents aren't like that
I guess it all depends on how you each are with money and what your use too....FI and I are the same with $ in that we never over spend and like to have a big savings....right now we have a joint checking and 3 joint savings (1 for wedding, 1 for vacation, 1 for emergency) With him being self employeed we take X amount of dollars of cash each week and once it's gone it's gone and that's used for "fun money".
I'm the bill payer and it all gets done online which I find so much easier!!!!! If either of us wants something extra we discuss it....overall we are the same fianacially, I just worry more about $ where he never gets worked up about it and I always get scared and prepared for the worse