Financial Question

Catalina Island Bound · May 2010

I remember reading this a long time ago here, but forgot what the majority answered.

After you got married, did you open a joint account? Kept separate accounts? Or just added onto your DH's?

We just opened a joint account and changed our direct deposits to reflect a certain percentage each pay day to go into that account ~ said account would be for all of our bill paying. Sounded good at the time, but now I'm wondering if it was a good thing to do?!?

TIA!

siba1119 · May 2010

We each have our own checking account, I have my own savings account then we also have a joint savings and checking account.

Since our 'extreme budgeting' has begun everything goes into our joint checking and it is distrubuted toward paying bills and savings.

I'm sure after we get all of our bills paid off and our savings built up a little more we will start using our individual checking accounts a little bit more.

sarlah · May 2010

We opened an account for Ted, and I'm also on that account. We do all of our banking with BofA because since they hold our mortgage we get free checking/savings with them. So there is one account that we are both on, so I can transfer money as needed, and then I have my own account & he has his own account with ING.

CanadianBride84 · May 2010

We have a combination I guess you could say. We have been living together for 3 and a half years now, so we didnt change things after we got married. I have my account, he has his, plus we have a joint savings. All my money goes into my account and I have certain things I have to pay for, all but a certain amount goes into his account to pay for his part of the bills, the rest goes into our savings. If I have extra money one month, I add it into the savings.

We talked about getting a joint account for everything, but just have yet to do that. Mind you, we both know the others pin num and all that and can ask the other for money if needed its not a well no you spent all the money.

HTH.

AprilJT · May 2010

We kept our own accounts that we had before we got married. Chris added me onto his credit card though. The thing that annoys me about it is that I'm a stay at home mom so I don't have any income and I have to always ask him to put money in my account. It just seems stupid to me but he is weird about having a joint account because his family never has (but I'm the only stay at home mom on his side of the family so I don't think our situation is the same).

smilz4milz · May 2010

Wow...I feel very simple now.

DH was added to my bank account (both checking and savings) which we have shared for years. Our paychecks are DD'd into checking and I pay all of the bills/ transfer funds into the savings account when we get paid.

hawaiianbride08 · May 2010

I didn't have a job during our first year of marriage (moved across the country for him and had to finish school) so one account it was! Once I got a job we realized that our lives would be easier with one main account, even though we had previously assumed we'd do separate. We also each transfer out a set amount of fun money into our own ING accounts every month. In addition, we kept his old account in Nebraska b/c his credit union has better interest rates - so that's where we keep most of our savings. My requirement was that my name be added to that account if that's where our moolah is going!!

I like how our finances have worked out.

lindeenwedding · May 2010

All our our checking & savings accounts are joint.

dominicandreamer · May 2010

We've had a joint account since we were dating (it just made going out and vacations much easier). But when we got married we changed the percentages going into the joint accounts. Before it was all our money seperate except for a set amount each month to save for vacations and going out. Now it's everything joint except for a set amount tou our seperate accounts for personal things.

Catalina Island Bound · May 2010

Thanks for the input!! I seriously thought that having separate accounts and then a joint account would be a pain in the behind. I was thinking more along the lines like Jenni ~ one account where everything goes in and everything gets paid from that one account. But we'll see how this joint account thing works. Brian thought it was a pain in the but to open a joint one, he was all for me just being added to his accounts, but since I have access to it, I didn't think I needed to be joint owner. Again, thanks ladies!

hawaiianbride08 · May 2010

Catalina Island Bound:
Thanks for the input!! I seriously thought that having separate accounts and then a joint account would be a pain in the behind. I was thinking more along the lines like Jenni ~ one account where everything goes in and everything gets paid from that one account. But we'll see how this joint account thing works. Brian thought it was a pain in the but to open a joint one, he was all for me just being added to his accounts, but since I have access to it, I didn't think I needed to be joint owner. Again, thanks ladies!

I love and trust my hubby - but I insisted on always being a joint owner on our accounts. It's important for my own sense of security.

Bigwuhead · May 2010

We are a mess...LOL..

I have: 1 mortgage, 2 checking accounts, 1 savings with BOA, I have a savings with ING.

Joint: 1 checking account and an ING account.

FI... 1 checking account...

Soon...we will have a joint mortgage and add to that I will have a landlord account.

natalee215 · May 2010

We each have our own checking and savings accounts, plus a joint checking and savings. Four months ago we also added another savings account for the baby, so in total we have 7 accounts, but it works for us. It never even seems complicated unless I explain on here. Our joint accounts are through ING so all of the accounts are linked which makes transferring $ very easy.

stlucia_wife · May 2010

we shared accounts before we are married. all our accounts have both of our names. we have our main account and then ever month DH puts x amount into our savings.

DanielleB1978 · May 2010

We both have our own checking and savings. After we married we opened a joint checking and savings. So far we haven't done anything with the joint checking and the joint savings has turned into our house down-payment account. Joining our finances is a work in progress that I know will become more merged and ironed out once we buy a house. I don't want us to close our individual accounts but we do need to add each other's names to the accounts just in case something happens to one of us so we have access to the money.

Mrs.S_0909 · May 2010

We each nave seperate checking accounts, and I had a savings that has become both of our savings account. We did add each other to our accounts though, so both names are on all accounts. Eventually we will open a joint checking to pay bills out of though.

kingpepsisgirl · May 2010

We opened a joint account when we moved in together 300 years ago. The only separate accounts we have our the ones we have for our businesses. We've never had any issues.

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