I’m currently in the process of trying to sort out our finances. A bit of background and we definitely have not been careful and are currently paying off the last of our debts which are 3.5k excluding mortgage and car. Currently we have a household income of about 65k and DH earns most of that however my wage is definitely enough to cover all bills and direct debits and childcare.
We do however too easily go out to a cafe/ for lunch/ buy stuff we could wait for meaning we don’t have much left at the end of the month to actually pay off the card!
So I’ve thought it might be helpful to try and restrict the joint account use. Currently both wages go there and a very small allowance of £100 each goes into personal accounts for nights out without each other. Everything else goes out the joint. What I’m thinking is still having wages paid into joint but working out how much we should be spending on bills, direct debits, food and petrol then each having a higher allowance paid to personal accounts so that if we want a quick lunch out at work it comes out of there and clothes come out of our own etc.
Interested in how it works for others. By the way we have 2 DC