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  1. #71
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    Default Re: Do you have separate bank accounts as your spouse?

    Quote Originally Posted by Lili81 View Post
    Yes we have the best system for us I think!

    One joint account + each has a separate account. All incomes get transferred in the joint account and from there we pay all expenses for the family (rent, utilities, food, car etc).
    We also both get the same allowance transferred into our separate accounts for play money (alcohol, restaurants, gifts and what not).
    The left over if any goes into saving.

    We love it as we work as a team towards the family finance but we still have some freedom to spend money on stupid things without having to discuss it with anyone :-)
    it's also great for gifts...
    Yep. This is our system... except that instead of all income going to the joint account & us each getting an allowance, it goes to our separate accounts & we each transfer our share of bills etc to the joint account. I want to change to the "allowance" system once we have set up our mortgage offset account though, as it's best to have thd most money possible in that account to minimise interest on the mortgage. Also, this would be easier when I'm on maternity leave (which will hopefully be this year!)

    The reason we do it this way is just in case something goes wrong with the bank's system (e.g. internet banking), so we have another way to access money.

    I keep a spreadsheet to manage joint expenses & my own (budget) & let DH know if he needs to transfer any extra to the joint account (e.g. if an unexpected expense arises) We also have a joint credit card to pay the bills, & pay it off each month from the joint account. This way, we earn some interest on the money (or will save interest on the mortgage once the offset is set up!) & don't pay any interest on the credit card (as long as it's paid off in full each month). It works for us

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    we have 1 joint account under both our names for savings deposits only and 2 of our own accounts each and 1 credit card for emergencies for the both of us. but in realitly its all "our" money no matter what account it's in.

  3. #73
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    Default Do you have separate bank accounts as your spouse?

    We have all joint accounts and credit card. We both have access to everything. I'm in charge of the budget and do all the payments etc. I do show my DH where we are at every month or so and get his input as well.

    We have an offset account so it is smartest to have all money in the one account. We save over $100 a month just by having out income sit there for the month.

    This works for us. We both agree that it is all our money and it doesn't matter who earns it. We have both been the higher earner at different stages in our relationship.

    I just couldn't be bothered having separate accounts and it would just mean more work for me and DH doesn't even know his PIN number anyway LOL.

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    His pay goes into a joint account and we both receive an 'allowance' from that into our separate accounts. His covers petrol and spending, mine covers petrol, spending, foid, things the kids need, appts etc. Bills and big purchases come out of the shared account. I have a credit card which I barely use, he doesn't have one. He is shocking with money so would never want to share an account with him.

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    Nah, we're lazy. We have separate accounts but DH has all the log in details and access to my bankcards whenever he wants. In fact he carries my bankcards for the most part, and there's one that I can't even remember the pin for because he's the only one that uses it .
    At the moment I'm the income earner so all the money goes into my accounts and he just uses them as he needs. I've signed a stat dec. etc to give him permission to call and discuss my accounts on my behalf in case I'm away for work (he opens my mail when I'm away for a while) so I guess it IS effectively joint, it's just joint access not joint names.

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    Default Do you have separate bank accounts as your spouse?

    We are a mix.

    When we bought our first house, we switched to a joint account (about 2 1/2 years into our relationship).

    Over time though, we've (well DH) has bought an investment property, so he has a separate mortgage/offset acct for that.

    I'm a sahm so earn no $$$ but DH keeps the joint acct at a healthy balance.

    His offset acct is our savings acct and has some significant savings.

    As for "emergency money", I don't have a secret acct, but I am the primary person on the kids savings accts and I'd use that money if I had to.

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    Default Re: Do you have separate bank accounts as your spouse?

    We have separate accounts. We had a joint for awhile which a portion of our wage automatically went into each month for the bills, shopping etc. I own our house and the account which debits the repayments must be in my name only so we couldn't completely join accounts.

    When I became a sahm, we ditched the joint account and dh now just has a fortnightly transfer to me to cover the mortgage and shopping

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    No we dont. We have joint account.

  9. #79
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    MrJones&Me is offline sometimes as useless as the 'ueue' in queue
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    Default Do you have separate bank accounts as your spouse?

    We also have 'my money' and 'your money'. We're happy, it suits us?

    We both have an income, we both pay bills. I don't understand why people don't 'get it'. There's nothing to 'get'.

    We both feel much more secure this way, we don't love each other less, and we have no secrets. We also don't have to answer to anyone for anything we buy (we talk about big purchases obviously).

    Our bills are always paid on time.

    So in that case, very happy to be strange and apparently "separate units".

    Go us

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  11. #80
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    Default Do you have separate bank accounts as your spouse?

    Joint accounts here. I do have one separate high interest account in my name though. It was an existing account from before we met, has good interest and we don't have a branch where we live so I never bothered to add him to the account. I use this as our savings account.

    We went to joint accounts when we changed banks for our mortgage and moved towns (as I said, no branch here). So it made sense to open accounts together.

    We had a bit of a power struggle when I first became a SAHM. He saw it as 'his' money. But I went back to work for sometime and contributed again. I'm now a SAHM again and it's very much 'our' money again.

    DH wouldn't know the balance of our accounts or how to access them online. He wouldn't know what our bills cost etc etc. he just has to ask and I'd tell him, it's not a secret, he just doesn't take much of an interest.


 

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