Separating but still cohabiting: joint account for bills only?

[Mummyof3children24]

Hi all, looking for some advice.

My DH and I are going through a difficult period and may be heading towards separation, but we’re still living together for now with children involved.

At the moment we share a joint account, but I’m wondering if it would be sensible to introduce a simple financial structure to protect us both and avoid any misunderstandings.

My thought was to keep a joint account just for the mortgage, bills and children’s costs, with both of us contributing based on our incomes, and then keep the rest of our money separate.

The intention is to keep things fair, transparent and reduce any potential tension.

Does this sound like a reasonable approach at this stage, and is there anything I should be mindful of so it doesn’t get misinterpreted?

TIA

I did this with exdh but only because I knew I could trust him implicitly. It does mean our credit reports remain linked. At one point it meant we could see when each other applied for credit.

That makes sense, thank you — I think in my case it’s less about trust and more about trying to create some clarity and avoid any misunderstandings while things are a bit uncertain. Helpful to know about the credit link side of things though.

I’ve been separated over 6 years and we still have a JA for the kids costs and any shared bills. He’s a bit rubbish with money but I do trust him on this

I think you need to be mindful that he may want the contribution to be 50:50 if you are separated.

That’s helpful, thank you. I think for me it’s more about putting something fair and clear in place early on rather than long-term arrangements. I earn more so I’d be happy to contribute more — it’s just about avoiding any confusion or tension while things are a bit uncertain

I’m in a similar position and plan on doing this.

STBEXH and I have done this, but its never been that fair tbh, one petson will always get more out it, but if you can live with that then it is useful.

We both pay in the same, despite him earning a fair amount more than me,so consider making sure it's 50/50.

We do the grocery shopping, household bills, mortgage, childcare and kids clubs from it. I'm moving out in 3 odd weeks and can't wait to sever this last financial tie to him. He has been a bit of an arse about it, but I just don't have the mental capacity to get wound up. He eats a pot more food than me, is often tardy with transferring his money, and doesn't keep an eye on the balance so we've gone overdrawn, into an arranged overdraft, but that still incurs fees.