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  1. #101
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    Default Do you have separate bank accounts as your spouse?

    We have separate accounts, always have, but move the money freely between them. If I need cash I just jump on Internet banking and move money from his account to mine. We should make it a joint one but it seems like so much fuss to change direct debits etc.

  2. #102
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    DD is MY child, so my "allowance," pays for her. But if I run out of money, or have extra costs that I need to cover? I just message, "Hey, can you put X amount of $$ in my account. I need it for XYZ. Ta."

    Easy.

  3. #103
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    I imagine when the baby comes it will be just like anything else. If I want it for bubs, I will buy it, if I run out of money then DP will buy essentials till I get paid next. Its all our money in the end. We swap cards or transfer on the net if needed, it all works out and we dont think that much about it so long as the essentials are covered. But it means that we dont have to be held accountable for every little purchase, or ask permission to do it.

  4. #104
    TrulyBlessed is offline Winner 2009 - Member you would most like to meet in Real Life
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    Default Do you have separate bank accounts as your spouse?

    We have different accounts ATM. My wage and child support for my kids cover the expenses for all my car, phone, kids school fees and other bills for the kids etc. DP wages cover child support he needs to pay for DD and his loans, our rent & food each week plus our savings and play money. I do all his banking for him etc so we will most likely go to one bank soon.

  5. #105
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    No we have a shared account

  6. #106
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    We don't have separate accounts, but dh does have a credit card in his name which he mostly uses for his business.

    Basically though what is his is mine and what's mine is his. That's why we are married and it's part of all that. Like you OP we update each other at least once a week of our current financial position, have quarterly budget meetings and keep on track with our bills by talking about it.

    We've gone through phases of me (the main breadwinner) not working and working part time and it's hard enough to juggle money from savings accounts to the main account to the credit card, let alone having to juggle from his account to mine or vice versa.

    There's no financial secrets in this house ... but we don't look at the details of the credit card in minute detail in the few weeks before Christmas to avoid spoiling Christmas surprises

  7. #107
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    Default Do you have separate bank accounts as your spouse?

    We had a domestic violence counsellor chat to us at high school to talk about the different forms of abuse and one being financial. We were advised to have an account that only we could access and preferably under a maiden name if possible. That way all centerlink money and cash gifts can be kept aside for rainy days etc

    We knew a lady (mums friend) that was a SAHM with a joint account. All her FTA &B went in there as well but her hubby kept tabs on it. She had NO money. Couldn't get the bus home from school drop offs etc if it was a hot/rainy day etc. Seeing that and knowing how often my mum would given her $20 or so...

    We have a joint mortgage and long term savings but separate spending accounts. I have the cc and pay all bills out of the housekeeping money I get from dh's wage - how good I am means I save more. My wage pays for investment property and all big bills. DH pays for mortgage, long term savings and housekeeping.



    Quote Originally Posted by ciaomamma View Post
    Wow I'm very surprise by the response I would have thought most people had joint accounts (mostly because my parents did so I'm going with that example). I agree separate with access (which we did until we bought a house and got married) is a totally different thing than having secret accounts. I read an article which was posted on a SAHM website, a financial expert was urging SAHMs to do just that, open a secret account and skim off the family expenses and save just in case... I found this very disturbing, like I love you but I don't trust you... I would feel betrayed if my DH save his bonuses (never telling me he got them) putting them on a secret account so he could spend as he pleased.

  8. #108
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    Quote Originally Posted by ciaomamma View Post
    So not really BH relater but DH and I have noticed most of our friends and family members have separate bank accounts (married couples) we both think this is very strange, especially after children. We have our finances together, and I take care of it all, once a week we sit down and I give him a quick run down of what's what, probably once every 6 months we have a big budget 'meeting' and recap on savings & bills.
    So my question is are we the norm or are we 'weird'?
    and why would you have separate accounts?
    Since we bought our first car we've had a joint savings account. We also always had our own private bank accounts. All our money goes into the joint account & all our bills are paid from this account as well. I also setup a direct payment of $200/fortnight into our personal bank accounts from our joint - ie we get a allowance LOL!

    We've always agreed that personal expenses (like mobiles, gym memberships or buying crap) comes out of our account but to be selfish and if it is an 'us' expense (like going to the movies or out to dinner or a household item purchase) use the joint savings account.


    Works for us - we've never had any issues. But then we also trust each others ability to handle money, our money - mind you I'm the only one that really know anything about the banking details. But they are no secret.

    I do also find it strange when couples say they don't have joint bank accounts - but hey each to their own.

  9. #109
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    Default Re: Do you have separate bank accounts as your spouse?

    Question...how do you manage a mortgage if you have separate accounts? I have a friend about to enter into a mortgage with her partner but they don't want a joint account although will get one only for the mortgage payments. I've been advocating the benefits of putting all savings into a redraw or offset (to kill the interest) but she wants her "own" money. She was looking for other ways to use that money towards the mortgage but by keeping it separate. Does that make sense? Does anyone do this?

  10. #110
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    Default Do you have separate bank accounts as your spouse?

    We have our own bank accounts and our mortgage is with another bank in both names, we can make extra payments but we can't withdraw from it and don't have cards to the account. Whatever is transfered in stays in.
    I don't personally like the offset account, I don't like that you can withdraw it so easily, I prefer budgeting money and transferring it between accounts so I can't overspend from my account.


 

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