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How do you do money?

(47 Posts)
LadyVampire Tue 17-Jan-17 22:50:50

Me and Dh currently get paid into separate accounts, we each take off what we need a month for personal expenses eg phone, petrol and whatever is left goes into joint account.

We also each have £100 a month pocket money to spend as we wish. We also have a joint savings.

Just wondering how others do it for any better ideas?

Notreallyhappy Wed 18-Jan-17 06:59:48

All in one pot, I look after what's going on get what we need. Tell him what going on.
If we need money he says have you got cash or do I need to go to the bank.
When he buys anything he let's me know so I can keep track.

Notreallyhappy Wed 18-Jan-17 07:03:01

I think it depends on the individuals ideas on money.
A friend grew up in debt and now does half split bills as his g/f is a spender. What's his is his.

SillySongsWithLarry Wed 18-Jan-17 07:07:16

Salary, DDs DLA and tax credits go into my account. Mortgage & bills come out and what's left is transferred to a joint account. Covers food, outings etc. Child support goes into another account and is spent solely on the children. DH gets carers allowance and that pays for his lunch at work and his car expenses. We have a joint savings account and £200 a month goes in there. That for home improvements but is taking forever to save up enough as the whole flat needs doing from scratch.

SillySongsWithLarry Wed 18-Jan-17 07:08:56

And we have a Park account to save for Christmas does that count as family finances grin

Whathaveilost Wed 18-Jan-17 07:21:44

We have a joint account.Each month my salary goes into it and then a few days later £1000 of it goes into my savings account.
Every week DH transfers £250 into the joint account and transfers £250 into my savings account.
I hardly ever have cash on me, just what I need and when we go out DH always has the cash about him
Now this is going make me sound so 1950s but I always ask DH for cash. The simple reason is the bank is quite way from us and it stops incidental drawing out at the ATM. I just say DH, can I just get some cash,it's never questioned why I want it for, howmuch I want etc.

I tend to buy why I want either on the joint account debit or credit card and CC gets paid off in full every month.

Works for us.

Eatingcheeseontoast Wed 18-Jan-17 07:30:15

Completely separate. Second marriage he's got kids, I don't. I pay. Him some for bills, we are open about what we've got and finances. Aren't too precious about who pays for what like groceries and eating out. Split holiday costs. P

jemmstar1980 Fri 20-Jan-17 20:49:50

Joint account which we both put money into when we get paid to cover mortgage and all house related bills (dog costs,cleaner,insurances etc). We both put in slightly extra as to cover for example
Having to replace the dishwasher.

We then both have our own savings and current account. We have a joint saving account as well.

We are both open how much we earn, how much we have in our accounts, and spend our money how we wish. I give him money towards food as he does most the food shopping.

He will help me out as required as earns more than me (for example gave me 80% of the money for a new car, paid for a holiday next year)

ImYourMama Fri 20-Jan-17 20:52:23

Everything into one account, all bills paid from this account, spending money for the month moved to a second joint current account. All our money is pooled, regardless of who earns what. Consult each other on spends all the time

LuluJakey1 Mon 23-Jan-17 22:16:50

We have a joint account that Dh's salary goes into.Mine did too until I became SAHM. All bills are paid from it. £1500 a month goes into a savings account- direct transfer day after salary goes into bank. We each spend what we want from the rest.
In addition we each have an ISA and a high interest bond - not high anymore.

LuluJakey1 Mon 23-Jan-17 22:18:32

And we put money into an account for DS every month. He is 2- hoping it will give him a good start when he is 18 (£200 a month)

Parisbanana Tue 24-Jan-17 15:24:31

Dh's salary goes in his account and from that he pays all the bills plus mortgage. Holidays.
My account has my (very meagre) earningsplus a set amount transferred by DDebit from dh. This pays for all food, everything the kids need (dinner money, pocket money, glasses, school stuff) plus my and their clothes, birthday/Christmas presents, any clubs we belong to.
It is very flexible and dh always makes sure I have enough. I'm not an extravagant spender at all.
We both have ISAs (I add to mine a set small amount by standing order each month, dh bungs in a lump sum every now and then. I also have a savings account (ha!) that pays practically zero interest but is separate from my current account and is emergency money. It stops me worrying.

toptomatoes Tue 24-Jan-17 15:34:03

Both our salaries go into the joint account. All bills paid from there and direct debits for savings/investments. We spend from there as well. We discuss big purchases and each look through regularly to make sure we're not overdoing the spending and that we know about everything that's gone out (not being defrauded!).

Spam88 Tue 24-Jan-17 15:42:56

Ours is a bit of a free for all... we have a joint account that we put enough in to cover mortgage and bills, just for the sake of convenience. Then the rest of our money is in various accounts in individual names but we just use any account to pay for stuff and it's all very much considered shared money. We move money around a bit to ensure we both always have enough in the current accounts we use regularly.

specialsubject Tue 24-Jan-17 16:06:55

think very hard about that hamper scheme. When the last one went bust it was a long fight for the victims to get even some of their money back. And the products are over-priced.

Pickitup Tue 24-Jan-17 17:43:08

Dh salary goes into joint account 1
Mine goes into joint account 2
I also have a separate account.
I bounce the cash around between these accounts to get best interest rates. Direct debits split between all 3 accounts (Need to recalculate soon though as might not be best way anymore)
80% of our spendings goes on credit card to earn points / savings. We make sure we pay it off every month.
Works for us.

grumpysquash3 Tue 24-Jan-17 22:09:55

DH and I get paid into separate accounts. We don't have a joint account. He pays mortgage, internet/TV, council tax and gas. I pay water, electric, all kids activities and lunches, most supermarket shopping. These approximately balance. He pays car costs and servicing etc.; I put some money into savings for DC.
We don't really keep close tabs, and transfer money between us if needed. It's all family money, just not jointly accessible.
It works well for us smile

wheezles Thu 02-Feb-17 09:33:28

We both work full time- but OH earns triple what I do.

OH's wage goes into Joint Account 1, aka 'BILLS'. This is for every single bill we have, debt, etc- we pay in OH's full salary and whatever's left at the end of the month gets moved over to our Joint Savings Account.

My wages go into Joint Account 2, aka 'SPENDS' and we use that to live off- all food, petrol and everything else- we both have a card, don't discuss purchases really, just each use it for everything. It dwindles to zero by the end of the month.

Works super well for us.

Fleurchamp Thu 02-Feb-17 09:39:50

Joint account, all income
goes in. Bills and savings go out together with standing orders to our own sole accounts for personal spending (he doesn't need to know that I spend way too much on coffee and cake!) and for presents to each other etc.

Savings are divided into short term (holidays, christmas), long term (home improvements, new car) and pension (mostly in our employers' schemes but also into ISAs).

JaxingJump Thu 02-Feb-17 09:42:35

I pay everything. Mortgage, childcare, bills, groceries, everything for the kids, some of the petrol.

DH pays some petrol and his lunches at work. But when a big bill that doesn't fit in my monthly budget comes in I get him to send me the few hundred or few thousand I need. And he manages all our investments. His salary is very up and down so it suits to pay everything from mine.

tootsietoo Thu 02-Feb-17 09:45:45

Everything into a joint account. All bills get paid out of that account and we both spend what we want from it. We always mention to each other if we are planning a big outlay. Neither of us has ever had a problem with anything the other wants to spend. We are both quite cautious with spending. The money side of things is probably the best part of our relationship, we are totally on the same wavelength!

AllFurCoatNoKnickera Thu 02-Feb-17 10:17:35

Both have separate accounts, bills are split between us (I pay council tax and he pays g&e and sky - roughly the same amount).
Mortgage comes out of his account and each month I transfer my half to him.
Everything else is our own money and we take turns paying for holidays. Generally he gets the food shopping because he drives during the day and I commute in to central london. I've been on mat leave and have done all food shopping.
We have a joint account but never paid anything in, the idea of changing direct debits seems a bit daunting. Will probably use it when DS starts nursery in a few weeks.
Works for us, but lots of people think it's strange.

Smellybluecheese Thu 02-Feb-17 10:33:58

Our salaries get paid into our personal current accounts. We each then transfer the same amount to joint account 1 (spending). This covers joint spending like food, petrol, stuff for our daughter. We each transfer different amounts to joint account 2 (bills) based on our salaries. All our bills including mortgage are paid out of this account. We calculate the amount that we each pay into this so that we are left with the same amount each in our personal current accounts for personal spending.

Smellybluecheese Thu 02-Feb-17 10:35:10

Oh we also each put the same amount each month into various savings accounts for holidays, car, house, christmas.

Perfectlypurple Thu 02-Feb-17 10:38:12

Our salaries go into the joint account and then £225 goes out into each of our personal accounts to cover mobile phone and any other expenses but if one of us wants or needs something more expensive that comes out of the joint account.
There are a couple of standing orders into savings accounts. All bills come out of the joint account.

I work out what we can afford if there are major expenses to be taken into consideration, what holidays we can afford etc but my dh is happy with this.

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