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Original poster

Single or joint account?

66 replies

PickasillyChristmasName · 06/12/2004 13:58

DH and I have had a joint account since we got married 5 years ago; everything either of us earn goes into it and everything we spend comes out of it. We've never had the concept of "your money" and "my money" which I think I am glad about.It meant that when I was bringing in nothing at the end of maternity leave, I didn't feel I had to ask DH for money - it was just there.

I know lots of people do have single bank accounts, or contribute a certain amount into a joint account but DH and I have been glad that we do have a "what's yours is mine" way of money.

Interested in what other people do and how it works for them (and I'm bored at work )

OP posts:

Flumberrysauce · 06/12/2004 16:45

i meant everyones relationship is different - doh!

Also diff people spend money on different stuff too. I like buying new clothes but my dp who comes from very comfy background and always had enough money fankyoo very much looks like a right bag of rags.

when I buy him new stuff he says thanks very much puts it away and it never gets worn unless its top of the pile!

joashiningstar · 06/12/2004 16:49

Seperate - definately seperate. Then you can always set up a joint account from which bills, etc can be paid.

Flumberrysauce · 06/12/2004 16:50

yeah its funny isn't other peoples choice of spending always seems like a waste (like fly fishing - 300 quid to stand in a freezing cold river and not catch anything - what are you a madman?) I can buy a bl**dy salmon in tescos for a tenner. but our own is essential - i love IKEA but dp thinks it is the equal to the devils spawn and would rather chew his own arm off and refuse to ever come.

Blackduck · 06/12/2004 16:53

Flumberrysauce -lol re Ikea - sounds like my dp....he sits in the carpark, I do mad dash inside!!

wickedwinterwitch · 06/12/2004 16:54

We have a joint. Everything goes in and out of it. Dp is a sahd so it couldn't be any other way for us.

JoolsTide · 06/12/2004 20:22

we have a joint account - always have had.

We have friends who used to have joint - then he had a bit of a fling so of course they had separate accounts - got back together but left things as they were ie separate. Now though you'll hear him say 'you owe me £1.90 for those paracetamols I got for you' or vice versa - I think thats bloody weird! Plus she no longer works so he gives her some money but its not just for her - its for household things too - I find it very controlling.

Jimjambells · 06/12/2004 20:34

Joint accounts, we got a joint account as soon as we moved in together (before marriage). Couldn't do it any other way. As I tell him what's his is mine and what's mine is mine :o No realy though we always watch bemused when people are sorting out who pays for what. hAving said that we are both equally bad at managing money. If one of us was good maybe we'd feel differently.

jingleballs · 06/12/2004 20:35

joint, always have, it's easier to manage the money if everything comes from one pot.

misdee · 06/12/2004 20:37

me and dh used to have joint account, but we split for a while, so the account went into my name. then dh went bankrupt, so now we have seperate accounts, tho dh pays into one of my accounts and has use of it if he wishes, as long as he makes sure they money is in there.

he sorts out all the car stuff, and as i get the most money i tend to pay the bills, food etc, tho he gets odd bits and pieces when needed. he only gets about £75 a week, plus £60 once every 4 weeks.

Kaz33 · 06/12/2004 20:40

Always been joint, I used to earn substantially more than him, now I earn nothing and he earns the dosh. Seems fair, we have two kids and lets be honest they get most of it !

Biggest problem is attitude to money, he's c**p, me less so - though still not the best. If he didn't need credit cards for work I would have cut up all his cards and given him a monthly allowance after all bills etc.. were paid. Certainly the idea of him having credit cards and accounts that I didn't know about sends me into a cold sweat. He could run up debts in his name and that would impact on me, we have a mortgage , he could be declared bankrupt etc.., county court judgements etc... As it is I rule with a benign rod of iron - though in the end you can't stop em spending. To be fair he has got better and the car incident is unlikely to be repeated

ladymuck · 06/12/2004 20:54

Joint, though at different points either one of us has taken responsibility for the admin side. We have similar views of spending/saving - generally we know how much our day to day living costs are and have a chat a couple of times a year about what else we might want to do (eg holidays/ stuff for the house/ new toys for either of us). [Flum - we also save up for things, in fact can't imagine not doing so, though we may just be lucky, or unimaginative as this is how our parents live too].

We were taken out to dinner by another couple recently and I was slightly bemused when they asked for separate bills at the end of the evening. I almost felt like asking who was paying for dh and who was paying for me..

AtHomeMum · 06/12/2004 20:58

joint & separate
when i worked we both paid into the joint & it covered all household expenses (i spent it all!).
now i am at home DP pays into it & I still spend it. DP also puts pennies into my separate account ... he's very good.

JennisaurusUnderTheMistletoe · 06/12/2004 21:18

Joint. Has been since just before we married. We both try to keep an eye on exactly how much we have, and try our best to follow a budget, but I know I spend a bit too much!

We also save up to buy cars/holidays etc.

merrymarthamoo · 06/12/2004 21:19

Joint. I'd have no money otherwise

Branster · 06/12/2004 21:32

Always has sepparate single accounts. Also makes it easier when filling in the tax return forms (which we both have to do) and also I can say to DH "Oh darling this dress only cost [amount paid minus £30]", and by the time my statement comes through he wouldn't figure it all out. Actually we never look at each other's bank statements but we could if we wanted to, just don't need to. If I need more money for presents etc DH just gives me a cheque which I put in my account. he pays all the house bills out of his account. I have a few direct debits for my car insurance, dog insurance (because it's my dog), internet (because I use it most of the time). I pay for all food, my clothes and most of DD's toys and clothes (but DH subs DD's purchases a great deal by giving me the money). It really works for us and I would hate having a joint account. Somehow I feel I have some freedom this way, if it makes any sense. I also have a savings account where we both put any extra money we have/earn/save and use it for holidays, cars, household appliances, furnishings. I wouldn't dream of using those money on my own so it's useful to have this savings account and it doesn't matter my name is on it.

ChristmasBOOZA · 06/12/2004 22:19

We have a joint current account into which everything is paid (both salaries, child benefit, tax credits etc). Then we have various savings which are mainly in joint names but I also have an ISA because that has to be one name only and it is saving for my next car (DH has company car).

We also have friends who take it in turns to pay for the take-away and it seems a bit odd to us. DH does the micro-financial stuff , receipts on spreadsheet, checking statements etc and I tend to do the macro stuff, setting up direct debits, financial decisions etc. It definitely works for us. Of course DH will have about 2 receipts to my 50 but thats because I have to put petrol in my car, do the internet groceries, buy all presents etc, clothes for the kids and all that.

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