August 2009 Weddings
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
question of the day
Do you and DH have seperate bank accounts or joint?
If you have seperate how do you determine who pays what bills?
We have joint and our savings account is joint. My name is on Jordan's savings account only because I openeded it before me and DH were together. DH's name is on Preston's only because he suprised me and opened it for Preston right after we found out we were having a boy. Since both of our checks are direct deposit there is no question of who pays.
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Re: question of the day
We have 1 joint account and because I'm still paying off my line of credit, I have another account.
Once the LoC is gone, I'll likely close that account (chequing, savings and a CC along with the LoC) and go fully joint with H.
I pay the insurance from my account (it's set up direct) but Derek pays most everything else. Any leftover money I have after paying my bills/fees and paying some to the line of credit I e-mail transfer over to our joint account.
We'll just not tell H about this little fact, m'kay?
DH and I just merged our accounts as of 2 months ago. I am not sure why we didn't do it sooner except we were lazy. It has really helped us see exactly what we were spending our money on and cut out the BS crap we would purchase. It's been great. We were both a bit nervous about it but it's been easy.
When we did have separate accounts he would pay some things, I would pay the others. We never had trouble with it.
We actually have separate checking accounts but only because we are lazy. He pays most of the bills because they are house related and he had a house before we got married.
I pay for all my insurance type things (car, life, disability, critical illness), my phone and my car. He pays for everything else but then we bank something like 70% of my income into a joint savings account for home improvements, a new car, etc.
We decided from the beginning to live our lives based only on one income and have that income be whoever's is lowest, which happens to be DH right now.
Part of the reason we have't merged is because we are at different banks. One day.
We still have our individual checking and savings accounts, and our direct deposit goes there. We have a joint checking account into which we both put a set amount each month to cover the mortgage and cable, and some of the household expenses. We also have a joint investment account. I anticipate getting rid of our individual accounts at some point in the future when our individual obligations/baggages are gone (alimony/child support/pre-existing debt). DH pays the auto insurance, I pay the utilities, I've been paying for the backyard renovations (it's technically my house). We generally split paying for groceries and eating out.
So, it's a combination of individual and joint.
We have a joint account where both paycheques get direct deposited. Most of our bills are paid out of that account.
We did keep our individual accounts for the debit cards but just because we were too lazy to set up new debit cards. We only use those for small purchases though, they're more like fun money accounts.
We have individual long term investment accounts though, because we set those up before we were married.
Baby #2: Surprise BFP 9.19.12, EDD 5.24.13, natural m/c 10.19.13 at 9w
We have way too many accounts, but that's what happens with international moves!
When we first moved in together, we opened a joint checking account to pay household expenses out of, and we both contributed equal amounts to that. Other than that, our savings, investment and checking accounts were separate.
When we moved to the UK and got married, we did a complete purge of our accounts, closed a bunch of accounts and pretty much combined everything into new joint accounts, including all of our investments.
However, for tax purposes, I am required to keep my Canadian retirement account separate, and we have offshore accounts in the UK that our salaries are directly deposited into that have to be individual. We then transfer everything equally for our monthly expenses into our joint UK onshore account.
It seems simple to me, but as I type it out it probably gets a lot more complicated! Basically, we split all household expenses evenly.
Cecilia arrived 12 October 2012
We have separate checking accounts and two joint savings accounts.
Jim pays the bills associated with his condo (our rental property), his credit cards, his car loan, the cable/internet/phone bill (because it was already in his name before we moved in together) and gas for all the cars.
I pay the bills for our new condo, our cell phones, our car/home owner insurance, my student loans, my credit card bills and the groceries.
I pay more of the bills than Jim, but I make most of our money.
The Daily Nugget
Cycle 12, IUI #1 - 33m post wash 10/15/10 = BFN
Cycle 13, IUI #2 - 15m post wash 11/16/10 = BFP, missed m/c, D&C 1/3/11
Cycle 15 - 18, IUI #3-6 = BFN
Cycle 20, IUI #7 = BFP!, missed m/c 9/14, D&C
DE-IVF Aug. 2012: ER 8/30 11R, 7M, 4F; ET 9/4 returned 2
Beta 9/18 #1-820, #2-1699, #3-7124
10/1 1st u/s measuring right on track, 125 bpm
We have separate accounts. It's mostly because of me--I confess I have a mental block when it comes to merging finances, I insist on splitting bills even though he makes twice what I do. We split rent, phone, groceries and car insurance down the middle. Other things we kind of alternate on. He's not a fan of this anymore--he keeps on reminding me that it's our money, not his/hers. I know I need to get into that frame of mind, especially if we have kids (since I'll probably being staying home for at least the first year).
But we're moving to joint accounts. We've done some merging on a few things and we plotted out a financial plan for the next few years. With his help, my student loan is practically gone. We're both maxing out our 401k accounts, and we've opened a few mutual funds jointly. It's taken a bit, but my mental block is lifting.It's so interesting how everyone seems to do things differently. B and I try to keep things simple. We have one joint checking account where every bill is paid from, regardless of what the bill is. We also have one joint investment account. We both have retirement/long term savings accounts which we set up before we were married and we maintain those as separate.
It is interesting to see how everyone is different.
We have a joint checking that used to be mine, but then I added DH to everything. It is way easier to have both our checks deposited there, and pay all the bills from. He does have a seperate checking for his own personal spending money, gym membership, gas, but I pretty much take care of that too. We see it as "our money."
We also have joint savings, and our own, but we both have access to all of the accounts.
We simplified to just one joint checking and one joint savings. All of our money is direct deposit into the checking account, and then I transfer some to savings every now and then to help stock pile some cash. We honestly make just enough money right now to pay our bills, especially with child care now being factored in. DH gets a raise in January, and I'm still not working in my field, so the money will come eventually. We still save money somehow, but we're not quite sure how.
I also have a retirement account and DH has shares in his company that will probably end up as his retirement since they're just now starting 401K at his work.