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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask how you split money?

55 replies

MissBax · 27/05/2017 14:55

I'm going to be going on maternity leave soon. When I return to work it will be only 30 hours a week, as opposed to 37.5 which my OH works.
I was just wondering how people split money? We just split everything 50/50 now but are on the same wage. Do most people then just go on a % of their wage if different to their OH? Or just put all money together and pay out of that?

OP posts:
Original poster
MissBax · 27/05/2017 14:55

Sorry not split money - split bills

OP posts:
Teachervoice · 27/05/2017 14:57

We have a joint account where both of our wages go and all bills come out of and no other personal bank accounts.

Original poster
MissBax · 27/05/2017 15:00

Thanks Teacher - we currently have a joint account which we both pay into equally for mortgage, bills and food etc, but then have our own accounts for personal money. My OH can be a bit frivolous with his money so not sure I would want everything going together. Have you ever had any difficulties with that in terms of spending fairly?

OP posts:
katiegg · 27/05/2017 15:00

This reply has been deleted

Message withdrawn at poster's request.

KimKardashiansArse · 27/05/2017 15:01

I work part time and we split things 70/30. My FTE is the same as his FT salary and I now work 3 days a week.

I wish we could just pool our money and forget about splitting the cost of stuff but he's got more debt than me and I can't think of how to deal with that without taking his debts on.

DameDiazepamTheDramaQueen · 27/05/2017 15:01

Same as Teacher

scottishdiem · 27/05/2017 15:05

I think there is a big difference how this happens pre and post kids to be honest. DP and I have bills with are paid based on a % of our income. Most of the rest goes into savings for a deposit but we have our own money for our own things if we want it.

However, post kids this cant work in the same way. You wont be earning what do did before and you need to be sure that there is an easy, simple system that makes sure you have access to money to paying for all the things you need. You are still working but working as a parent to his child so there is no his'n'hers money really until all household and childcare and family expenses are met. You should both also have money for normal personal items as well. Only when all of that has been paid for can there then be an element of private money for random impulses purchases. If you dont earn enough for that, its best just to work on sharing everything.

Birdsgottaf1y · 27/05/2017 15:07

Most people say that they work out what is needed for the bills and put a fair percentage in there, so they both have enough 'fun' money.

I had a joint account with my DH, but he didn't spend much, except on decent clothes, i spent the equivalent on makeup/skin care and days out, so it worked for us.

You've both had a baby and the person who drops working hours to look after the baby, shouldn't lose out.

WhatToDoAboutThis2017 · 27/05/2017 15:09

We don't. We share everything.

Original poster
MissBax · 27/05/2017 15:11

Thanks everyone, I think we will just have to pool it all together and make sure we both have enough 'fun money' each and then just got to be careful with the rest (him not me)!

OP posts:
Coldilox · 27/05/2017 15:11

We have a similar set up to you, joint account for bills and then personal accounts for own money. At one point when earning similar we paid in the same, but several years on I earn a fair bit more, DW has dropped to 30hrs per week, so there is a big discrepancy. We've just worked it out so that we each have roughly the same amount left over after paying into the joint account. Anything we pay for with own money for the family (treats, days out, takeaways) we just take turns, or whoever is more flush pays. We're pretty relaxed about it, and it works.

Teachervoice · 27/05/2017 15:45

I can't say we have. I can appreciate that could be tricky though in some circumstances.

I go on maternity leave in October (first baby) and I'm currently feeling very thankful that we do it how we do. I would hate the idea of being given an 'allowance' while I'm not earning my regular income.

We have always been of the mindset that we share everything and neither of us would want to make a ridiculous purchase which adversely affected the finances either short or long term.

Whatsername17 · 27/05/2017 15:52

We do a %. It is alien to some people but keeping independent finances is just what we have always done. It has never caused us an issue.

SelfObsessionHoney · 27/05/2017 15:54

Similar to most. Joint account for all bills, DP earns more than I do so he puts in a higher percentage.

user1488721675 · 27/05/2017 16:38

One joint account, both wages go in and bills come out, one joint savings account. That's it, no separate accounts.

Rhayader · 27/05/2017 16:42

We just have one joint account. DH earns 5/6 times what I do but i've chosen a career that is more flexible for the DC. We get a similar amount of "fun money" although we dont keep tabs on it.

Pinkheart5917 · 27/05/2017 16:43

All mine & dh money goes in to joint current & savings accounts

We just spent what we want & when need too

Writerwannabe83 · 27/05/2017 16:44

Both our salaries get paid into our joint account and then from that we transfer £400 into his personal account and £400 in to my personal account. Every single expenditure to do with the house/bills/cars/phones/childcare etc comes out the joint account and we then have equal spends in our personal account to do with as we wish.

DH brings home about £450 more than I do but we still have equal spends. In my previous job he probably bought home about £700 more than me but we still had the same set-up of both wages going into the joint account and each having £400 for our personal accounts.

Howdoichangethis · 27/05/2017 16:45

All our money is considered as joint money. Whilst we are both paid into our own separate current accounts DH transfers the majority of his salary to our joint account and all our day to day living is spent from there. I work 3 days a week and I use my salary to pay our nursery bill, a bit into the joint account and the rest into savings. Neither of us are frivolous or have expensive hobbies so we both just spend what we want when we want.

alltouchedout · 27/05/2017 16:51

We do family money. All income ours equally, all outgoings equal responsibility. Essentials get paid first and anything left no one has greater claim to than anyone else.

FlapAttack88 · 27/05/2017 17:01

We put everything we earn into joint account except a set amount that we keep bavk for our own money. To spend on what we want or save or do whatever with from our personal accounts . this amount is the same for both of us. So my DH puts in more to joint account than me but we both have the same amount of disposable income if that makes sense? Works.well for us .. especially as like you we used to be on same wage before I went part time to look after ds 2 days a week

FlapAttack88 · 27/05/2017 17:04

The set amount we hold back is a relatively very small sum.. enough to pay for a few outings and maybe something like an item of clothing a month or a dvd and to save presents for each other for bday etc.. also to pay our own phone bills and gym.

Our joint account we use ti pay our help to buy isa out from and all food petrol. Bills and childcare etx

FlapAttack88 · 27/05/2017 17:05

Haha same as writer except we have a smaller allowance as dh just blows all his on mcdonalds and sausage rolls 😂

gillybeanz · 27/05/2017 17:08

We have our own accounts, both pay for different things but all money is joint iyswim.
I pay mortgage, he pays other bills. If money is needed that isn't in one account then we take it from the other.

WhenSheWasBadSheWasHorrid · 27/05/2017 17:11

We both earn similar amounts.

Have separate accounts and a joint account. We both pay a big chunk into to joint account for mortgage / bills / food / fun stuff.

Luckily we have a similar approach to money (quite frugal, dh very frugal). So it seems to work for us.