Shared to Split accounts

[KTeachMom]

Going from monies of both spouses jobs into one account to separate accounts.

currently my husband and I have one account where our earnings from our full time jobs go into. We have had some issues with finances lately and thought of getting a separate bank account, despite not wanting that to begin with. In the past we had gone through some things that led to us getting a joint account, hence why I wanted it to stay that way.

Thoughts on separate bank accounts and each spouse paying a part of household expenses and mortgage? How does it work if you are doing this?

Separate individual accounts and each pay a % into a joint account for bills and mortgage, etc (calculate how much you need in there each month + a bit). We each paid the same % of our take home pay, so the higher earner paid more in £s. Later we got rid of the joint account and just paid some bills each, at the time it saved bank charges. I always hated the idea of buying presents out of a joint account, just seems wrong, and the fact DH could see how much they had cost!

Depends, what’s the reason for change? Surely that’s the problem?

But I agree joint bills, then own accounts.

Separate, then joint seems to be the most popular.

the reason for the change is too much control by one side. There has to be some freedom especially when both are contributing.

I have never had a joint account with DH.

We share bills and then have own cash - he pays more as he earns more.

25 years and we have never had a cross word over money and we both save.

You each have your separate savings as well?

Have been together for 37 years and have always had separate accounts and separate savings accounts.

Yes separate savings accounts.

i think joint accounts create problems. I don’t need to see that DH has spent X in coffee or Y on golf - so does that mean I spend A on chocolate?? Where does it end?

Salary into separate, transfer a set amount into joint. Shared bills out of joint. Separate savings and a shared one for holidays.

I'm divorced but before that we had our wages paid into separate accounts, then did a proportional transfer into the joint one to cover all joint costs. That was for everything to do with the house, cars, groceries, present buying, garden maintenance, milkman, everything. Mostly direct debits/online but the odd card purchase

We each had our own savings and own spends.

We have a joint account for bills, neither allowed to just spend from this account.
we have a joint savings account account for things like holidays, Christmas, insurances and car expenses
we have our own current accounts for our own spends, clothes, hair cuts, days out for our hobbies and so on.
we have separate savings as ISAs need to be in one name, and we split the saving equally so we each have the same amount in our own name
would this sort of set up work for you ?

We get paid into our individual accounts and then pay into a joint account that we live out of.
I would say that 95+% of our day to day spending comes out of the joint account. We both manage our own savings accounts although we have a joint spreadsheet with what we have in savings which helps with long term planning.
Neither of us go through the joint account nit-picking who's bought what but we both have similar spending habits that said it is nice to have the option of my own account if I want to buy some new make up or a pms crusty creme donut from the train station without having to answer the question about why I didn't bring him one home too! (I would have done but there was always a chance it would have been eaten on the train home!)
I would say that the control might be worth exploring more as a couple and potentially with counselling depending on how problematic and not just treat changing the account setup as the solution