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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

to think if you're married you have a joint bank account and joint finances

367 replies

User100 · 14/01/2017 21:02

So my wife and I have a joint bank account and joint fiances, all our money goes into and our of joint accounts. This seems to me entirely normal; the vast majority of our expenses are shared/family/kids e.g. mortgage, household bills, days out with the kids, grocery shop, kids clothing, kids clubs etc. Obviously there are occasional personal things (clothing, nights out that only involve one of us) but relatively minor in our expenses. It seems genuinely insane to me that we would keep seperate accounts then each pay half of the joint expenses - the admin would be a pain and we're married - even if we get divorced our assets would be split not on the basis of who owns them but as splitting things we own jointly.
I genuinely can't see any other way of looking at things but there is a theme in MN (and elsewhere) that suggests others view things differently. The recent example of this was a thread where someone said "I don't know why I bother working, my income barely covers child care" and numerous people responded "doesn't your husband pay half the child care". That question makes literally no sense to me (for the reasons outlined above). Can anyone explain what I'm missing?

OP posts:
unicornsIlovethem · 14/01/2017 21:53

I agree with Tabby. We have a joint account for bills, childcare etc to which we pay proportionate amounts - I think at the moment I pay 31% and DH pays the rest as I'm part time.

We then have our own accounts with equal spending money for professional fees, travel, mobile phones, clothes etc. I like being able to spend whatever I like out of my own salary knowing that the bills are taken care of and DH doesn't know or care that I spent £70 on face cream.

It's worked for us now for 20 years and I think you're a bit stupid if you really think it's insane to do something in a different way to you.

maggiethemagpie · 14/01/2017 21:53

Nope. I'm married and we have separate personal accounts, we do have a joint account but that's only for the mortgage and bills.

We transfer a certain amount of money each month (£250 each) into a paypal account and any money spent on family stuff (food, stuff for the kids, days out etc) gets paid back to the personal account of whoever bought it.

Any stuff we buy for ourselves comes out of our own accounts.

For holidays and the like we put 50% each in from our own accounts.

We are not 'joined at the hip' married nor do we want to be. It's good to retain a little independence in a marriage. This is what works for us.

Also means i can go shopping for clothes/makeup etc without having to explain myself to anyone.

Ellieboolou27 · 14/01/2017 21:54

Haven't RTFT but.... married 15 years, 2 under 5's, dh is the main earner and pays all bills, mortgage and food shop, actually he pays for 95% of the household, including clothes for kids and me.
I work 3 days, what I earn is mine, as in I don't contribute to bills etc, I do obviously pay for days out with kids and activities, I also pay childcare which is very little compared to my salary.
To us it's not strange, weird or wrong, I'm on the mortgage and all household bills, it's what works for us.

Bluntness100 · 14/01/2017 21:54

I also think you're being unreasonable. If it works for people why is their way wrong and yours right?

We have a joint account, all joint expenses, household bills , uni costs for our daughter, joint nights out etc come from the joint account, we put seventy percent of each of our salaries into that joint account, we then have our own accounts for our own expenses, clothes, cars, golf,phones, make up, whatever. We always have done and I wouldn't have it any other way. I'm the higher earner, but my husband is a high earner in his own right. We also each have our own savings,

We've been together for nearly 28 years and it works just fine. I like having financial independence. As it's 70 percent of each of our salaries, who earns what is irrelevant and it's totally fair.

stillwantrachelshair · 14/01/2017 21:55

Why does it matter to you, OP, how DH and I manage our money? It has no impact on you so I am not sure why you are judging me to be insane because we organise our finances differently.
FWIW, it's partly laziness, partly for security (unlikely that both accounts would be hacked at the same time but mainly because I like my independence and because too many friends have had the joint account cleared out. No doubt it horrifies you even more to learn I have a separate "running away" fund.

KitKat1985 · 14/01/2017 21:55

We have joint and separate accounts. We pay all of our household bills / mortgage from the joint account which we contribute to equally. Then we each have the remainder of our wages in our individual account. I earn more than DH though (although admittedly not right now as I'm maternity leave) so I buy the bulk of the groceries, so we end up with a roughly equal amount to spend each month.

As for why I prefer this, I like having some money that's mine. I don't want to feel that I have to check or ask permission each time I want to buy myself something personally. Also I like to be able to keep an eye on how much is in the account so I don't go overdrawn, and I think if we were both spending from the same account without knowing exactly what the other was spending it would be much easier to go overdrawn (e.g , I think I can buy some groceries as there's £50 left in the account but not realise that DH just filled his car up with petrol that morning from the same account meaning we go overdrawn type scenario).

2cats2many · 14/01/2017 21:56

No joint accounts here either. It's always worked just fine. Most of the bills come out of my account and DH pays me the dosh for his (larger) share. It's sort of just evolved that way, but it works for us.

flashheartscanoe · 14/01/2017 21:57

We have largely joint money but I also have my own account. The reason- I want to be able to occasionally make frivolous purchases without any discussion or comment.

F1ipFlopFrus · 14/01/2017 21:57

This reply has been deleted

Message withdrawn at poster's request.

Hellmouth · 14/01/2017 21:58

I would have bills coming out of a joint account, but that's it. I like my financial independence. Plus, the amount of threads I've seen where the departing OH cleans out the joint account, or people encourage the dumped person to clean out the joint account. . . .

scoobydooagain · 14/01/2017 21:58

Ours are completely separate, I even disliked having my kindle on his amazon account as I didn't like someone knowing what I was buying (he didn't care or notice) however we do not have children together and have similar earnings. I think for joint accounts to work well you both have to have a similar attitude to money.

neveradullmoment99 · 14/01/2017 21:59

Oh definitely separate the whole way. It doesnt mean that you dont share the bills. It does mean you can have some financial independence. Also, you can be liable for a joint back account if anything goes wrong.

FourKidsNotCrazyYet · 14/01/2017 22:00

I've never really thought about it. Ive pretty much been a SAHM since our first baby 19 years ago so don't really have my own money. DHs pay goes int a joint account that I have a card to but don't really use (unless I'm buying extras like Christmas presents or birthday presents). I get an allowance into a separate bank account which only I have a card for. Food, clothing and children's stuff comes out of that (horse livery, music lessons, sports lessons etc). If I need more I'd just transfer more. To be fair he's abroad a lot so I have control and manage most financial things. If I worked it would be shared. There's no mine and his. It's ours.

TheBadgersMadeMeDoIt · 14/01/2017 22:02

Joint savings and joint mortgage here, but separate current accounts and credit cards. I pay some bills, he pays the rest. If one of us is short of cash one month, the other covers big spends.

No particular reason why we've done it this way - it's just the way things evolved. But in 11 years of marriage we've never argued about money and have always worked through the tighter times successfully so I guess we're doing something right.

minipie · 14/01/2017 22:03

I'm with you on joint accounts and finances

However my income barely covers childcare, that's nothing to do with joint/separate finances. It doesn't imply the childcare is all paid by one person. It's weighing up whether the family will be better off with one parent not working - which is a question that applies whether you pool money or not.

yabusothere · 14/01/2017 22:04

Surely that's just a case of trusting your OH?

Yes so did lots of people who had joint accounts until one was having an affair or just decided to empty the joint account

The bank wont help you. Your own fault

Definitely not for me

Rainydayspending · 14/01/2017 22:05

You went wrong with the "to think if you're married that you..". Your idea of marriage is bound to vary with others. There is not one way of doing anything. There are married people who do / don't do all sorts of things that to me are a given. I don't give it head space. They're not me. They're not my husband. Meh.

oldandcrabby · 14/01/2017 22:05

How you arrange your finances is, I think, up to each couple. We always has separate accounts and a monthly divvy up, this worked until my husband was ill. I am have been a widow for six years and would advise that mortages, council tax, utilities and insurances come from a joint account. When we knew my husband's prognosis was terminal, we changed my husband's account to a joint account. This made transferring these utilities into my name were fairly painless, except for Orange who was then our internet provider, who insisted on a copy of the death certificate sent by snail mail before they would proceed!
With hindsight,- I would advise to have at least one joint account

LadyVampire · 14/01/2017 22:06

Think a happy medium is the way forward for us. We each get our paychecks, take off what is needed for personal bills plus an extra £100 disposable then the rest in JA. Before we did JA savings we each had a lump sum put into personal accounts as a just in case.

He earns more but his personal expenses are way more than mine so I pay more into JA but that is fine :)

TimeForBedWhenever · 14/01/2017 22:06

DP earns five times my salary - he is a high earner while I work part time. We are both pleased with this arrangement. When we met 20 years ago I earned considerably more than him but he was learning his profession and his earnings took off. We both pay all our earnings into a joint account and then pay ourselves the same amount into our own, seperate bank accounts. We both think it is important to have money that we don't have to account for. Works for us.

OverByYer · 14/01/2017 22:07

We have one joint account.
There's been times when DH earned a lot more than me, when I was on reduced hours with the children.
Now we are about the same.
I just couldn't be faffed working out who should pay for what.

Only downside is present buying, when I can pretty much guess what I'm getting by looking at my bank statements.

We have some separate savings which are done through payslip deductions, it again they are generally used for family holidays.

Prob helps that we have same attitude to money and spending.

CeeceeBloomingdale · 14/01/2017 22:07

We've been together twenty odd years but have separate bank accounts. I pay some bills, he pays others. We still consider all the money ours/joint but it's easier to keep tabs on the balance if we each manage our own. I use debit cards loads, often for small amounts so the available balance may not reflects what's actually available. I know what I've spent, I don't feel like communicating every time I've bought a pint of milk to make him aware also. We can make independent decisions about our spending within our budgets without the other micromanaging it or justifying it.

Why do you even care how others manage their money?

arethereanyleftatall · 14/01/2017 22:07

i would think you would only have a joint account if you need one. E.g. You need to budget, or a sahp who does the shopping, one party is crap with money, can't think of any others.
But if you don't need one e.g. Both have more coming in than going out, both generous and respectful, then there's no point getting a joint account.

SheepyFun · 14/01/2017 22:08

When I returned to work after DD was born (having had a year's maternity leave), one colleague asked if it was nice to have money to spend again. I said that I'd always had money to spend, as we have a joint account. She asked if it felt different now I was contributing financially, and for me it really really didn't - I thought that was a somewhat strange attitude.

Having said that, DH and I spend in similar ways, and live well within our income. We have a nominal amount that if we want to spend beyond that, we should consult each other if it isn't a 'normal' purchase (so our weekly shop is above the amount, but we don't discuss that each week), though occasionally one of us forgets. But I suspect it would feel very different if we were tighter for money; we'd need to be much more careful about discussing additional purchases. And if one of us was a spender and the other a saver, I think it would be hard too. If I lived in fear of not being able to pay the bills because of DH's spending, we'd probably have a different setup.

HeCantBeSerious · 14/01/2017 22:08

Married nearly 13 years. 2 kids. Never had a joint account (never would). Not so much "his money/her money" but just not our style.

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