How do you split your finances?

[sparkofcreation 0]

We have a joint checking, joint savings accounts and also we each have a personal checking account. All our money goes into the joint account but we take a certain amount of money out per month (same amount for both, although I've heard of couples who do this proportional to each person's income) to put in our personal account and can use it on anything we want, which includes things we buy for each other. Also, when one of us does freelance work (he typesets music, I translate and interpret) or sells something we owned before the marriage (he sold his cornet last week), that money belongs to the one who did the work or owned the thing, and any money we get as gifts separately belongs to the person who got the gift.

We budget really well and in the end we know what the other is spending, but this way we don't feel bad spending "our" money on something that just one of us wants (like my mp3 player or his Palm), and the other person doesn't know in advance when a gift has been bought.

Edited May 6, 2006 by sparkofcreation

[almaty 19]

It will be joint everything! I am sharing my life, my soul, my bed...why the hell not my money? Same goes for him too, obviously!

I don't understand the concept of separate when you're married. I know it works for some ppl, but we personally can't understand it *shrug*

good point sister lisa.......and there is not this is yours and this is mine.....

[Chrissy25 0]

i completly agree with you Lisa.....joint everything!

[Mina76 0]

Hi Jen

As a lesson from my mother I now have a separate savings account for "just in case" anything that can happen in life, but other then that we have a joint checking that we use for only paying rent, bills and food. Of course hubby also has a separate savings of his own.

I need to feel that I have a bit of control still of what I earn and need to be sure that I will be ok if anything (God forbits) should happen to my husband

[Fischkoepfin 1]

We have a joint account because he used to have problems with finances, and I didn't want to constantly chip in to help him pay his bills plus he didn't have a steady job when he followed me to Indiana. We now both have a job and make about the same money so our expenses are split evenly.

It's ok the way it is now, even though I would sort of prefer split accounts because I've seen my parents' fight for years over nothing but joint finances and I really don't feel like replicating those fights in my own marriage. That said, we don't have any joint credit cards or joint loans, but we're jointly trying to get out of debt, and I don't mind sharing whatever money I have with him.

[Fandango 1,439]

I used to have a customer that practically lived like roomates with her husband. Bills were split 50/50....seperate accts...and the strange thing was...the hubby liked cable, so she felt she shouldn't contribute to the bill...so she didn't, but he didn't like her WATCHING the cable then. Food? The bill was itemized as far as who got what...but most times they went to the store AND DID SEPARATE SHOPPING!

It worked for them, but to me it was just, oh!

[KarenCee 3]

I used to have a customer that practically lived like roomates with her husband. Bills were split 50/50....seperate accts...and the strange thing was...the hubby liked cable, so she felt she shouldn't contribute to the bill...so she didn't, but he didn't like her WATCHING the cable then. Food? The bill was itemized as far as who got what...but most times they went to the store AND DID SEPARATE SHOPPING!

It worked for them, but to me it was just, oh!

This is just strange...*shakes her head*...so it was a "pay for what you eat" kind of thing? And don't you dare eat what I bought? And don't dare watch the cable that I pay for? What kind of "marriage" is that?

[Fandango 1,439]

I used to have a customer that practically lived like roomates with her husband. Bills were split 50/50....seperate accts...and the strange thing was...the hubby liked cable, so she felt she shouldn't contribute to the bill...so she didn't, but he didn't like her WATCHING the cable then. Food? The bill was itemized as far as who got what...but most times they went to the store AND DID SEPARATE SHOPPING!

It worked for them, but to me it was just, oh!

This is just strange...*shakes her head*...so it was a "pay for what you eat" kind of thing? And don't you dare eat what I bought? And don't dare watch the cable that I pay for? What kind of "marriage" is that?

Yup.

Wierd, huh?

I used to make fun of her to her face (she never caught on tho) by asking her questions 'so do you have post-its on the food? To which she would SERIOUSLY answer...nope...the things we both like, we either take turns buying it, or if he eats it more than I do, he buys his own!

For shizzle I am not lying!

[*Robert* 2]

Hmmm.... let's see...

What's hers is hers, and what's mine is hers, and if I need money, I go to her!!!

That's pretty much it!

[KarenCee 3]

I used to have a customer that practically lived like roomates with her husband. Bills were split 50/50....seperate accts...and the strange thing was...the hubby liked cable, so she felt she shouldn't contribute to the bill...so she didn't, but he didn't like her WATCHING the cable then. Food? The bill was itemized as far as who got what...but most times they went to the store AND DID SEPARATE SHOPPING!

It worked for them, but to me it was just, oh!

This is just strange...*shakes her head*...so it was a "pay for what you eat" kind of thing? And don't you dare eat what I bought? And don't dare watch the cable that I pay for? What kind of "marriage" is that?

Yup.

Wierd, huh?

I used to make fun of her to her face (she never caught on tho) by asking her questions 'so do you have post-its on the food? To which she would SERIOUSLY answer...nope...the things we both like, we either take turns buying it, or if he eats it more than I do, he buys his own!

For shizzle I am not lying!

*shakes her head again* unbelieveable...."if he eats more than i do...." *shakes head again*

[*Robert* 2]

That's no marriage!!! That's ridiculous!!!

[Hilarious Clinton 452]

Hi all,

I prompted the poll about pre-nuptial agreements and as I read the responses of those who chose to reply (thank you for sharing your thoughts), I wondered about another question, better served for discussion than a poll, I think...

During my first marriage, finances were shared equally.. joint bank accounts, credit cards, etc.. even though income was split more like 60-40. Divorce was relatively amicable with a 50-50 split of assets, joint custody of the kids. The only contention was retirement and he threatened to keep me from closing the deal on the house I wanted if I pursued half of his, so I relented.

Now... I'm wondering how people who have been divorced, or are older and have established lives/kids/etc, have decided to manage their finances... everything jointly, one joint account for bills with separate accounts for personal expenses, other options?

I'm of the opinion that marriage is a partnership, not a business arrangement, but I don't have experience in any other method other than 'joint everything'. I'm interested in hearing pros/cons of how arrangements have worked for people.

Ideas? Thoughts?

Jen

half of HIS retirement? that would be a crime.

[*Robert* 2]

Hi all,

I prompted the poll about pre-nuptial agreements and as I read the responses of those who chose to reply (thank you for sharing your thoughts), I wondered about another question, better served for discussion than a poll, I think...

During my first marriage, finances were shared equally.. joint bank accounts, credit cards, etc.. even though income was split more like 60-40. Divorce was relatively amicable with a 50-50 split of assets, joint custody of the kids. The only contention was retirement and he threatened to keep me from closing the deal on the house I wanted if I pursued half of his, so I relented.

Now... I'm wondering how people who have been divorced, or are older and have established lives/kids/etc, have decided to manage their finances... everything jointly, one joint account for bills with separate accounts for personal expenses, other options?

I'm of the opinion that marriage is a partnership, not a business arrangement, but I don't have experience in any other method other than 'joint everything'. I'm interested in hearing pros/cons of how arrangements have worked for people.

Ideas? Thoughts?

Jen

half of HIS retirement? that would be a crime.

you got that right Rich!!!

Military guys get screwed all the time becaue of that. They're old ladies wait until just before they retire, and get a divorce, and get to walk out with half of their retirement!!!

That's why the vows were written to read "till DEATH do you part". If it ain't natural, then make it unatural!

[Fandango 1,439]

Hi all,

I prompted the poll about pre-nuptial agreements and as I read the responses of those who chose to reply (thank you for sharing your thoughts), I wondered about another question, better served for discussion than a poll, I think...

During my first marriage, finances were shared equally.. joint bank accounts, credit cards, etc.. even though income was split more like 60-40. Divorce was relatively amicable with a 50-50 split of assets, joint custody of the kids. The only contention was retirement and he threatened to keep me from closing the deal on the house I wanted if I pursued half of his, so I relented.

Now... I'm wondering how people who have been divorced, or are older and have established lives/kids/etc, have decided to manage their finances... everything jointly, one joint account for bills with separate accounts for personal expenses, other options?

I'm of the opinion that marriage is a partnership, not a business arrangement, but I don't have experience in any other method other than 'joint everything'. I'm interested in hearing pros/cons of how arrangements have worked for people.

Ideas? Thoughts?

Jen

half of HIS retirement? that would be a crime.

you got that right Rich!!!

Military guys get screwed all the time becaue of that. They're old ladies wait until just before they retire, and get a divorce, and get to walk out with half of their retirement!!!

That's why the vows were written to read "till DEATH do you part". If it ain't natural, then make it unatural!

My friend's bf has an exwife who gets half his pension. Forever. Doesn't matter if she gets married or not.

Then again, doesn't welshie and her man have this very same issue with his biotch of an ex?

[Welshcookie 17]

Hi all,

I prompted the poll about pre-nuptial agreements and as I read the responses of those who chose to reply (thank you for sharing your thoughts), I wondered about another question, better served for discussion than a poll, I think...

During my first marriage, finances were shared equally.. joint bank accounts, credit cards, etc.. even though income was split more like 60-40. Divorce was relatively amicable with a 50-50 split of assets, joint custody of the kids. The only contention was retirement and he threatened to keep me from closing the deal on the house I wanted if I pursued half of his, so I relented.

Now... I'm wondering how people who have been divorced, or are older and have established lives/kids/etc, have decided to manage their finances... everything jointly, one joint account for bills with separate accounts for personal expenses, other options?

I'm of the opinion that marriage is a partnership, not a business arrangement, but I don't have experience in any other method other than 'joint everything'. I'm interested in hearing pros/cons of how arrangements have worked for people.

Ideas? Thoughts?

Jen

half of HIS retirement? that would be a crime.

you got that right Rich!!!

Military guys get screwed all the time becaue of that. They're old ladies wait until just before they retire, and get a divorce, and get to walk out with half of their retirement!!!

That's why the vows were written to read "till DEATH do you part". If it ain't natural, then make it unatural!

My friend's bf has an exwife who gets half his pension. Forever. Doesn't matter if she gets married or not.

Then again, doesn't welshie and her man have this very same issue with his biotch of an ex?