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Original poster

Do you and your partner have a joint account?

87 replies

EverythingButNotNow · 25/04/2019 22:54

Hi guys

I’m thinking of setting up a joint account with DH but wanted to see how many people do this?

If you don’t mind me asking, do you both earn the same amount or does it vary a lot

Thank you

OP posts:
Fairylea · 25/04/2019 22:56

We have a joint account where all income goes in (dhs wages, tax credits, dla, everything) and all bills go out of. We also leave some extra for kids expenses / clothes and days out. We give ourselves equal spending money per month and transfer this set amount to each of our single bank accounts to spend as we wish.

Dh works full time. I’m a stay at home mum / carer for disabled ds.

DramaAlpaca · 25/04/2019 23:00

All our income goes into our joint account. He earns 3 times as much as me, but as far as we are both concerned all money is family money. We transfer the same amount of spending money into our own accounts each month.

BlueEyedPersephone · 25/04/2019 23:00

Both put a set amount into joint account, all bills, food, days out come out of joint. Rest we save or spend as we want

Merrow · 25/04/2019 23:00

We have a joint account and keep the same amount back as treat money - basically so we can make frivolous purchases or go out to dinner with friends without thinking about how it impacts our joint budget. We don’t earn the same amount. I used to earn a lot more, then retrained so I earned less for a few years and now I earn significantly more again.

krisskross · 25/04/2019 23:02

We do exactly same as fairylea above. I work part time and earn a quarter of DH

Chilledout11 · 25/04/2019 23:03

We use our own personal accounts as we earn virtually the same income. We both feel comfortable like that.
Its a bit awkward at times. I buy groceries and he asks me how much is half. Or he pays the childminder and I leave out half. I might buy a new range of clothes for dc that comes to 60 so he will buy the shoes.

I know not everyone could do this and I do end up spending more (all the homewares) but it balances out when dh drives and petrol etc.

Backseatonthebus · 25/04/2019 23:06

No joint account. Over the years the highest earner has swapped between us several times . Whoever is earning more pays for more. It's a very fluid arrangement and we both like it that way. Some people will do doubt come along and say you aren't a proper team if you don't have a joint account, but it works really well for us.

notacooldad · 25/04/2019 23:07

Yes, we've got a joint account. We have our own savings account.
Allthe household bills including Spotify and Netflix and gym memberships come out of this as well as all car expenses including fuel repairs etc. Also money for the theatre, gigs, holidays and meals out and things we buy for the lads and college stuff.
I go away most months and the joint account pays for that. Dp spends money on clothes, nights out etc.

We hardly touch the savings.

scratchyfluffface · 25/04/2019 23:10

Yes, for bills and mortgage. Both have our own separate accounts too (for personal spending etc)

Would not get a joint account unless you 100% trust the other as it will affect your credit rating

icannotremember · 25/04/2019 23:20

Yes, although my salary doesn't go into it... we have a wholly joint budget though. It doesn't matter what account money is in, it's our equally. Just as our expenses are. It's always just worked best for us to be one pot.

supadupapupascupa · 25/04/2019 23:29

One current account and one savings account. All money is family money. Dh earns most of it. I manage it. We have a personal spends amount that goes into individual Monzo cards for things like lunches, alcohol, misc bits and bobs not otherwise budgeted for

Youngandfree · 25/04/2019 23:30

Yes but we don’t use it really anymore...we set it up
When we first got married and had direct debits coming out of it, we both put in some money but we don’t do it like that any more. I had a long period as a sahm So we didn’t need it as such. Now we just use separate accounts

Aimily · 25/04/2019 23:37

Yes, 2 joint accounts one for all bills and the second a savings account. Also have separate account each that we both access.

Bellebelle · 25/04/2019 23:43

Earn roughly the same, pay equal amount into a joint account which covers all bills and groceries. Rest is in our personal accounts to spend/save. If we need to top up the joint account during the month for more groceries etc we both put in the same amount.

Works to an extent but I think that we both sometimes spend more extravagantly from the joint account on food etc as in my mind the money is already ‘gone’ while I’m much more careful with the money in my own account.

MrsDrSpencerReid · 25/04/2019 23:51

We have a joint account that everything goes into and gets paid out of. We have a direct deposit set up that goes into our savings account once a fortnight and another direct deposit that goes onto our joint credit card once a week.
DH works full time and I am a SAHM.

Linnet · 25/04/2019 23:51

No. I earn more than dh, when he gets paid we transfer a set amount into my account and all direct debits come out of my account. Dh puts so much in per month, I put in a bit more, since I get paid more and whatever we have left of our pay is our own to spend.

ImportantWater · 25/04/2019 23:55

We both earn about the same in the end but it fluctuates as both self employed. We have our own accounts with direct debits every month to a joint account which pays the mortgage, bills, things like kids school trips and lunches, and eating out if we are all together. He pays petrol and I pay the weekly shop.

WhoAteMyNuts · 26/04/2019 06:20

We have joint accounts for current/savings and credit cards. Then we have the same individual accounts.

The joint accounts are for all shared things e.g. house bills and savings for holidays etc. But we operate individual accounts because we have our own savings and money to do what we like with.

Leedsbean · 26/04/2019 06:47

Joint account and joint savings. Has always fluctuated with regards to who earns more.

Both salaries go into joint account and we each get the same amount of pocket money each month to spend as we please.

cliquewhyohwhy · 26/04/2019 06:52

Wage goes into our own accounts and transfer money in a joint account for household bills and mortgage. I like having my own money.

OneTitWonder · 26/04/2019 06:59

Everything we have is joint. Bank accounts, credit cards, mortgages etc.

I earn twice what he does, but I can hand on heart say that to me, all money is our money. Neither of us have gambling or uncontrolled spending issues which obviously makes it easier to share all of our finances.

Also, for context we live in Australia, where divorce and financial settlement laws are very different to the UK.

SaltSpoon · 26/04/2019 07:01

We have our own accounts. I earn 1.5 times his salary. Husband pays me a direct debit every month as a contribution towards bills (worked out once a year), leaving us roughly the same amount in spending (though me a bit more, as I earn more). We have a joint savings account, which we each pop any leftovers in at the end of the month.

Bleubelle · 26/04/2019 07:05

Everything is joint, we’ve never looked at the finances as his and mine, everything is shared.

LoubyLou1234 · 26/04/2019 07:06

We were gonna get one when we bought the house for bills etc. Never got round to it. We manage fine just split everything and different bills go out of different accounts. No kids just us two.

limitedscreentime · 26/04/2019 07:08

We have joint savings and current account although we also have our old personal accounts which are more historical and barely used. All income goes into and we spend from the joint accounts and don't begrudge what each other buys!! We don't have a lot of money but to be fair we aren't big spenders either.
Finding it really weird that people are married and yet have such separate finances. All our money is OUR money and we trust each other!!

Income ratio has fluctuated over the years, with sometimes only one of us earning or similar amounts or very different amounts.