Money management

[selfrespect01]

Do you and your husband have a seperate bank account and manage money seperately?

Who is in charge of managing or budgeting home mainantence if you have a joint account both your income is paid in?

is this a aibu???

We have both. Our account and my account. This was not planned it just evolved this way and DH wouldn't have a scooby doo what is in either. I have worked for the same company since before we were married and just never got round to changing where my salary went so kept my account and when we bought a house together his bank account got tied up with the mortgage so that became our joint account and where his salary goes.

We both work 3 days a week, but he earns more than me (I'm in the charity sector, he's in IT). We both pay into our own pensions, put 5% into a savings account, and the rest goes into a joint account for bills. Everything comes out of that joint account.

If we want to buy something as a surprise for each other, we take it out as cash or tell the other person not to check the account for this week, next week, whatever.

We're both in charge of the money. Anything over about £10 (so more than lunch, a magazine) is discussed before.

We both budget for the home insurance, then.

If i'm being honest though, i have a more "high level" view of our finances, H does more day to day. He'll know how much we've got this month, what bills will hit at the end of the month, etc - but I know when the car needs MOT'd and when the house insurance is renewed. We summed it all up last year, and we know that we need about £200 a month for "one off" stuff in the year (car repair, MOT, insurances, boiler service, and so on), so we know that if we have £200 "spare" it REALLY isn't spare.

Works for us! It's maybe not the most efficient - it took a while to learn how to communicate well re: finances.

agree with toptulip ....are you saying it is unreasonable to have seperate or joint bank accounts or did you just post this in the wrong place ?

Joint accounts. DH does the money management on the whole (mainly because he works from home and does it daily). I go through spells of wanting to know more about exactly where our money goes - I would say I have a rough idea at the moment.

I had join accounts with exH as well, but I managed the money then.

We have joint accounts and dh manages all our money.

I know it could possibly be seen as quite old fashioned, but my xh was absolutely hopeless at both earning and managing money so it always fell to me. It's lovely that dh does it, I really appreciate it!

when i was with EXp we split the bills 50/50 and paid the right amount into a joint account. teh rest of our wages went into out own personal accounts and we took care of our own savings and pensions.

however, i am a control freak when it comes to my own money. to me my money is my independance and while he earned 4 times as much as me, it was important to me that i paid half of everything, i couldn't risk him ever saying that he paid more than me so was entitled to take something off me. (i realise this was an issue within our relationship and normal relationships aren't liek that) i also wasn't comfortable asking to spend my own money or justifying what i spent it on so my personal account was important for me to have. (we had different priorities wrt money.)

We just have one joint account for all our monthly income/outgoings which I mainly manage. DH will have a vague idea what's going on but will still check with me if he needs to spend on something unusual, in case I say 'eeek wait until Tuesday' or something!

We do have a couple of savings accounts with very little in at the moment, but they're there for when we do have spare cash to shunt into there.

Obviously separate pensions as well.

D

DH and I both pay all our salary into the joint account and all bills come out of there. We make sure we save enough from this to pay for holidays and larger one off items.

We then each take the same amount out and put it in our personal accounts as spending money for the month. It's a generous amount and there's enough for both of us to go out or spend a bit on clothes or other "treats". Some months we don't spend it all so we'll put it what's left back in our joint account and save it.

The main reason for doing it like this is so that we both have control over major expenditure but neither of us has to run every purchase by the other. We only discuss spending that's too much to come out of our monthly allowance. It also means that I don't complain when he spends money on golf equipment and he doesn't say anything if I buy new clothes so it minimises arguments about money too.