My husband and I both work full time and have separate bank accounts. We divvy up who pays for what expenses. He makes 3 x more than I do (but I still make a good salary) and he does pay proportionally more than I do for expenses. I am about to go on maternity leave and he has suggested giving me an 'allowance'. How do other people share money/expenses and does it work for you?
Separate all the way. His, hers and 'ours' for joint expenses. He was useless with money and, if we'd had one joint account only, he'd have rattled through it in no time. When we divorced, the fact that I had kept some money in my own name literally saved my life.
We decided to keep the accounts seperate due to both having our fingers badly burned by both exes!!! We both earn roughly the same but I get paid monthly and he gets paid bi-weekly so decided it would be best if the monthly bills came out of my account and anything else (i.e. fuel, food, luxuries etc) would be covered by his wages. I have to say it's worked for almost 3 years!!
We have individual accounts which our salaries get paid into. We transfer money into the joint account out of which all the bills, household expenses etc come.
I would hate the idea of getting an "allowance" from my husband. I saved up money before maternity leaves in order to keep paying some money into the joint account and also still having some in my own account.
Hi Kelpie. We have joint everything, we get in a muddle otherwise. But do whatever works for you I guess. Perhaps when the baby is born go for a joint family account. Otherwise does that mean when your allowance/maternity leave time ends, you will be responsible for buying the baby's food/clothes/toys etc?
Joint everything, always have. We don't have his and hers money, we have our money. But then we are both quite responsible with money, and earn quite a lot (so if someone does splurge it's not really an issue).