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A little nervous!

DH and I opened our first joint checking account last week and got our debit cards yesterday. I'm just worried about the logistics of bill paying and use of our cards. I've never shared an account before.

Re: A little nervous!

  • I understand! It's weird because it seems like everyone does it, but I don't see how that would ever work for us. We do have a joint account, but it's really DH's account & I just have access to it so I can transfer money into his for the mortgage. He pays the mortgage & I pay all of our other bills. For now that is working for us, and as long as we are both ok with it I don't see a need to change it right now. In the future I'm sure we will, and I'll be wondering the same things as you!
  • We share an account - it was easier than I thought it would be. We were kind of forced into it b/c I didn't have a job for the first 9 months we lived here but I needed to buy things! I like our current system: both of our paychecks are deposited into our joint account. All bills are paid from that account, and we each have a set amount of money transferred into our individual accounts each month for play money.  Then we have a joint savings account that money left over each month is transferred to. Works out really good. I think if you have an agreement on how much money it's ok to spend on non-necessities each month, you'll be fine :-)
  • Me and Bri's system is basically the opposite of Becky's.  We still have our direct deposit go to our personal checking accounts that we've had since before we met.  Those accounts are ours to do what we want with so we don't have to tell one another about every little thing we spend our money on.  On pay days, we have an automatic transfer set up that drops xxx in our joint savings.  Then we just make the individual transfers into our joint checking account to pay all of the bills.  Our joint savings and checking are linked so we can instantly move money back and forth between those accounts.  We try to keep our majority of our money in the savings since it has a higher interest rate and keep a minimal amount (usually around $1000) in our checking.  We basically just let one another know if we use the checking account for something out of the ordinary.

    Once you get your own system down, it will be fine!

  • I would be nervous too. DH and I have not combined anything yet...
    Anniversary
  • Lisa7Lisa7 member
    Sixth Anniversary
    I was a little nervous when we did that too b/c during the week DH is usually in another state so who knows what we are spending, lol. We just always make sure to update (and confirm it's cool) each other on a big purchases and check the account online every so often. GL
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  • Since Aaron and I started our strict budgeting 99% of things go through our joint account.  He has direct deposit in our joint account and as soon as payroll things get switched over at my work (in the next few months) I will too.  The only things that get paid from my checking account are rent and my car payment.  Other than that everything goes through our joint checking.  I sit down on the weekend and pay bills, but other than that we don't use our debit cards and operate strictly on cash (which we get from the ATM on sundays) so there's really no need to worry about over drafting or anything like that.

    Good luck!  Its a big change, but as long as you communicate it shouldn't be a problem.

  • imagenatalee215:

    Me and Bri's system is basically the opposite of Becky's.  We still have our direct deposit go to our personal checking accounts that we've had since before we met.  Those accounts are ours to do what we want with so we don't have to tell one another about every little thing we spend our money on. 

    Same here.  We also have a joint "savings" account, it's really another checking account that we set up for our wedding funds, that now holds our savings to buy our first home.  We transfer money back and forth through this account too for rent.  As for bills, I pay Comcast, ComEd and groceries, Jordan pays car insurance, gas, and cell phone.   

    I'm sure you'll get used to the joint account in no time, I can understand how it would feel weird at first.  Good luck!

  • This was one thing I never considered.  DH is a financial retard!  I have to watch over him like a child or he would never pay a bill.  We set up a joint savings that only he puts money into.  That way I can access it to take his part of the mortgage and utilities out.  Then I let him know when he needs to put more money in ;)  This is the ONLY way it would work for us!
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  • Joint bank accounts was the best thing we ever did!!! (well more for me than for DH!). I never have to worry now if there's money in my account :) We each have our own credit cards and use those for everything throughout the month then pay the bills off at the end of each month. Works well for us, except one month when my cc bill was really high... and DH wasn't very happy with me! I think as long as you don't go out and make a big purchase without talking about it first you'll be fine :)

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