We each have our own accounts which our own pay goes in to. Whoever happens to get the mail pays the bills or whoever set the service up gets it direct debited from their account. If one of us is running low on money we ask the other to transfer some money across. It's pretty casual.
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09-02-2016 12:04 #11
09-02-2016 12:21 #12Senior Member
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09-02-2016 12:50 #13
Dh transfers a set amount to me each fortnight to cover the mortgage, petrol, shopping, my phone/car insurance and my spending money. He pays all the other bills as needed as well as transferring the kids money (they each have a 'spending' account for things like clothes, nappies, activities etc as well as a long term savings account). A couple of times a year we review how much extra he has and put it onto the mortgage
09-02-2016 12:58 #14
I am minister of finance and nothing gets paid unless I pay it (cause DH just wouldn't!).
Our wages go into a joint account, our mortgage gets transferred to the other bank once a fortnight, health insurance and after care are direct debits, everything else I BPay.
We each have our own separate accounts that are our emergency funds if something ever happened of any kind.
I'm a saver and DH is a spender so I drive him nuts hehe
09-02-2016 12:58 #15
09-02-2016 12:59 #16
One joint account plus a joint savings account. Everything goes in and out the same account. I keep an eye on it mostly. D H doesn't have much to do with it, most things are direct debited anyways.
09-02-2016 13:02 #17
Offset account against mortgage, plus credit card, which we pay at the end of every cycle so we get the maximum benefits of the offset.
DP takes care of the bills and most expenses and I have access to the accounts whenever I want a look. He updates me on where our mortgage is and shows me when I feel like seeing the numbers. We discuss personal expenses to make sure we both know what the other is spending. And any large purchases are decided on together.
09-02-2016 13:19 #18
I'm the CFO mainly because I have more time during the day to manage everything. plus I'm a bean counter so it just goes with the territory 😂
both our pays go into our joint offset and we pay the home loan, car loan etc from there (direct debit). dh has $700 each fortnight go off to a ubank account of his as "savings" for bills. when a bill arrives, I set it up for payment on the credit card (we've got a premium rewards card and basically live off the cc to accrue max points each month then the balance is paid in full each month) and tell dh how much I need from his ubank account to put the money into the cc for it.
everything is budgeted for and accounted for but we aren't super anal about it. like if I want to go get a facial or go shopping and buy some clothes, I don't need "permission". larger purchased are obviously discussed and agreed upon together.
our offset is obviously working to reduce our mortgage interest but it's also our "running account" and savings. the balance obviously moves around a lot but as long as it's kept at an overall steady amount, we're happy. it means we're not going backwards.
we also have a portfolio of shares in each of our names. this is also basically back up emergency funds should anything dire happen. like if we were desperate for the money, we would sell the shares. but that's a total last resort. actually we forget the funds are there which is great lol, forced savings without noticing 😂
pretty happy with our set up but I know it works because we are on the same page financially and neither of us is a shocking spender or penny pincher. we've got very similar attitudes and approaches to our money and are both very financially literate. dh previously had no investing knowledge but I've got him interested in shares so he takes an active interest in the market now too.
09-02-2016 13:52 #19Senior Member
- Join Date
- Aug 2013
09-02-2016 13:59 #20
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