Meet the Other Phone. Only the apps you allow.

Meet the Other Phone.
Only the apps you allow.

Buy now

Please or to access all these features

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Who is being unreasonable - joint finances

449 replies

namechange59295 · 16/03/2018 14:29

Namechanged for this but regular poster.

Please help me work out whether I am being unreasonable, or whether my husband is being unreasonable (I think he is, obviously!).

I'll try to make his as succinct as possible. Been with my DH for 8 years, married for 18 months, DS1 is 7.5 months. DH bought the house we live in when we had been together for 2 years, large cash deposit, small mortgage. I moved in and paid a reduced rent until the mortgage was cleared (approx. 3 years). I have then lived there for free ever since. The justification for this which we both agreed to was that I had to move around an hour from my friends, family and work to allow him to continue to run his business, which would obviously benefit us both in the future. His friends, family and hobbies are on his doorstep (literally, we can see his parents house and the rugby field from our windows!). I hate the town we live in, but we plan to move out of town in the next couple of years and as I have made lots of friends in the wider area I am happy with this prospect, although ultimately I would prefer to move back to where I grew up and where my family are.

So, mortgage is paid off and we both have significant savings, however he has about 3 times what I have. I believe his ability to save has been partly facilitated by me because by moving to his area I have allowed our relationship to continue and him to pursue his professional desires. Of course he has also saved very hard and worked very hard for that money. I have explained this part of our financial situation not to be goady, but I don't want to drip feed and I do think this is relevant to my AIBU.

Since moving in together we have paid into a joint account for food, bills, council tax etc etc. Basically everything that's needed to keep the house running. I have just stopped receiving maternity pay but have been paying in as normal until now. Agreement is that I will stay at home with DS1 because my commute to work means I would work for about £25 per day once we have paid for childcare. We have always been of the understanding that we would both prefer for me to be at home with the children for a certain amount of time whilst they are young and that was a large part of the reason we have settled in DH's area. All discussed and agreed years ago.

I do all of the housework, so cooking, cleaning, washing, ironing, food shopping, bins, recycling, night feeds etc. plus all those other little things like buying birthday presents, cards etc. He does bath and bed with DS 5 nights a week. He plays rugby twice a week and all day on a Saturday, with the occasional night out afterwards (not regular, say once every 2 months or so). He has a lie in at the weekend on both days while I get up with DS.

I have always said that I would prefer our savings to be held jointly, with a direct debit into an account for household stuff and then an equal allowance each for spending money. He has always said that he will just top up our existing joint account as needed. We are both relatively good with money so whilst I'm not really comfortable with this, in theory it should work as long as we are both reasonable.

With regards to our savings, we are both saving for a property investment, so in that sense our intentions for the savings are mutual. He obviously has a great deal more than I do at present, but my parents will be giving us a significant (approx £175k) sum to purchase said property when we find it so he will then benefit from my/their investment. Basically what I am trying to say is that we are on a fairly level playing field once all is taken into consideration.

Fast forward to today. We are looking after his parents dog for a few days while they are away. I took her for a run on the beach this morning and it was lovely down there so I bought a coffee in the cafe and sat outside for a bit longer. The coffee cost £1.50. DH has told me that I should take my own coffee in a flask because buying a coffee out is a waste of money. He says that if I was out for a walk with a friend and we went into the coffee shop that's fine because it's being sociable. I think that considering he disappears for 2 evenings a week plus most of Saturday week in week out (and there is a cost of say £20 a week for this) I should be allowed to buy a bloody coffee every now and then if I want one! I'm not one of these people who walks around with a costa permanently attached to my hand, I hardly ever buy drinks or food out. My social commitments are a buggy fitness group once or twice a week (£4 a time), baby sensory (£5 a week) and slimming world (£5 a week). I then go for a walk with a group of mums once a week and we have a coffee afterwards. This mornings coffee doesn't usually happen, it's only because I was down there with his parents dog and I just fancied a coffee because it was really nice there today. He is saying that if I had been with someone else it would have been fine because it's being sociable. I argued that if his hobby was cycling or running which he might do by himself I would still be happy for him to pursue it, it just so happens that he plays rugby and that is a team sport.

This next bit is the important bit.

He then said that he is spending his money when he does things, and I am spending our money. My argument is that all of the money is our money, including he money that my parents have promised me for the property purchase** whenever that happens.

I think this statement completely summarises his attitude towards me being a stay at home mum and whilst he is happy for me to do so, he is going to want me to account for every last penny I spend because as far as he is concerned, I am not the one who went out and earned it. I also think that this shows he does not value anything I do in the home and whilst I am happy to do it and appreciate that I am fortunate to be able to stay at home, I do not think that attitude is fair.

Well done if you are still reading - I am happy to be told I am unreasonable if I am and in which case I need to start grovelling after the argument we've just had. If I am not being unreasonable and he is being financially controlling, then I am just disappointed in myself for being so stupid as to think we were on the same wavelength.

Thank you.

OP posts:
Allthewaves · 17/03/2018 17:27

Hefty payment each month into a private pension.

Allthewaves · 17/03/2018 17:29

Get yourself to a financial advisor and find out how to protect yourself. Imo you need equal savings in your name so you have access to money incase of separation and a decent pension of your own for a start

LannieDuck · 17/03/2018 17:32

I'm really curious to know how he squares the circle of wanting you to be a SAHM, but all his earnings belong to him alone.

Does he acknowledge that he's asking you to make a huge sacrifice that it leaves you with no income, no pension, no savings, and completely dependent on him?

expatinscotland · 17/03/2018 17:34

'It's all such a mess isn't it. Do you think the best thing for me to do would be to get clued up myself then arrange a meeting for us both with a financial advisor?'

Stop taking on the mental load! You're already ringing round nurseries, now you're putting the onus on yourself to justify to him why the savings should be in both names. You've already told him to sort it. Now he either does it or he doesn't.

Personally, I'd see an adviser for myself.

PurplePirate · 17/03/2018 17:36

OP you are amazing. I would keep going. Get armed with facts fro accountants and solicitors. Your DH is having to face some (for him) uncomfortable truths.

Don't take your eye off the ball.

milliemolliemou · 17/03/2018 18:01

OP is your name on the deeds on the house you live in currently?

Neweternal · 17/03/2018 18:05

Some great advice here. I'm interested what is his attitude to spending on his son, education, tutors, nurseries etc? You find often stingy men are just as mean to their children.

MyOtherProfile · 17/03/2018 18:05

OP is your name on the deeds on the house you live in currently?

This.

bastardkitty · 17/03/2018 18:09

Whether OP's name is on the deeds to the house is irrelevant. They are married and the property is a marital asset.

MyOtherProfile · 17/03/2018 18:11

Ah yes good point. I'd forgotten she said they were married from the attitude to finances.

namechange59295 · 17/03/2018 18:41

Update!

He has suggested joint saving and current account going forwards. Our respective savings stay as they are at present (£85k in 'his', £30k in 'mine'). His justification being that when we find a house the £85k and the £30k will go into paying for that, plus my £175k and anything we save jointly.

Obviously this means I have paid in more than him, but assuming we are a reasonable married couple (which I appreciate some of you might think we aren't for this tread, but for the purpose of the argument let's put that to one side), to me that is what married couples do.

Thoughts?

OP posts:
Quartz2208 · 17/03/2018 18:46

How is he suggesting it works when you buy a house - I would highly recommend that you get a charge on the side that your parents have lent so if the worst comes to the worst it goes back to them (indeed if I was your parents I would be insisting on it). or have it so that if you do split up and need to sell he gets the 85k and you get 205k and split the rest

As it seems to be his and yours until yours outnumbers his -

namechange59295 · 17/03/2018 18:48

@Quartz2208 actually yes, he said he'd be happy to engineer the agreement in that way. Sorry that was a fairly important bit I should have included.

OP posts:
expatinscotland · 17/03/2018 18:50

He seems to have forgotten you told him no house purchase. I would tell him the £175k isn't happening and I'm going back to work.

You asked him to put the savings in both your names.

He has ignored you and disregarded you entirely.

I suspect he has also disregarded your telling him you're going back to work because he's used to your rolling over for him.

bastardkitty · 17/03/2018 18:51

I agree about the charge. I think that arguing to keep such inequity regarding the savings is pitiful bearing in mind the £1.50 for coffee outburst.

Neweternal · 17/03/2018 18:51

You know your husband best but how much saving are there likely to be from now on to house move? I mean he isn't risking an amount such as £85k. Take your time and think about this £175k. He has been cornered and this is the best he has come up with.

Quartz2208 · 17/03/2018 18:51

Then I think that is fine and indeed I would think it makes sense for both of you to protect both of you (and your parents).

I do have to say though that some savings accounts are single name only (for example I have in my name only a share isa) it is both of us but in my name for tax purposes and my OH has an ISA in his name for the same reason (ISAs are one name only). We see them as joint

yoyo1234 · 17/03/2018 18:51

Pension provisions and equal lie in opportunities..... What is the arrangement with the house currently. Did he buy it and then you live with him. Has he contributed ( eg pre marriage) more to the equity of it. If so that may even contributions for the new property. If you are worried you do not have to contribute all £175,000.

bastardkitty · 17/03/2018 18:53

I'm with expat. He's just trying to dig himself out of the shit. I wouldn't settle for it. I would also in my own mind give him 28 days to sort this out and if he doesn't it was nothing more than lip service. Even when trying to make the right noises, he's taking the piss.

yoyo1234 · 17/03/2018 18:56

I think he is really trying. The charge is a really good thing.

bastardkitty · 17/03/2018 18:57

Oh he's trying alright.

LannieDuck · 17/03/2018 18:58

It's great that he's agreeing about the joint accounts.

How much of 'his' savings has he built up since you started mat leave? I hadn't realised you have £30k too - which implies both of you were building up savings independently while you were both working?

If not much of the £85k has been accrued since DS was born, I would let that lie and focus on ensuring equitable arrangements going forward.

Cornishclio · 17/03/2018 18:59

What is happening to the mortgage free house that you live in now? Will that not be added to the pot for buying the new property or do you plan to rent that out? Whose name is that in? Are you totally dependent on the joint account and have no personal money at all so if he chooses not to top it up you have no access to money? That is very financially controlling.

I suggest the £175k be protected in some way as I am not sure I would trust your DH as he is very obviously thinking of his own financial position rather than yours as a couple. What is wrong with you combining the £30k and £85k and making that joint? The tax side of things is nonsense. You are presumably a non tax payer at the moment and he is a higher rate. You are allowed to earn £1k and he can earn £500 per year in interest before being liable to tax. £40k of the £115k can go in ISAS in each of your names and the remaining £75k in an account in joint names. Not difficult to sort out on a self assessment return and presumably he has an accountant anyway.

Bluelady · 17/03/2018 19:00

If I were you, OP, I'd keep that £175k right out of the equation for now. Later on it could be a useful bargaining chip in terms of where you buy your next house. And when it does go in, having a charge against it is an excellent idea.

How will the joint account work? Will he expect you to account for every penny you spend? And berate you if you buy a coffee or, God forbid, a new lipstick?

pagefruits1991 · 17/03/2018 19:04

You asked him to put both savings in both names, and he STILL won't do it. His eyes are still fixed firmly on the prize. He wants that £175k. I'm sorry op, but he still isn't listening to you. You are still giving him more and more. Its all his savings until you buy that house....NO DEAL! Take the £175k off the table until this is sorted.
Even if he signs something to say you will get back what you put in, what are the chances of you wanting to move and uproot ds if this all goes to pot? Pretty low I would presume and he still has his nest egg sat there.
Nope.

Please create an account

To comment on this thread you need to create a Mumsnet account.

This thread is closed and is no longer accepting replies. Click here to start a new thread.