Finally about to merge finances. What do we need to consider?

[Earhell]

Weird on - DH and I have been together around 8 years. We have 2 kids and he moved in to (and paid deposit into) my property therefore all bills have just stayed in my account.
It's worked out pretty equally - he's paid for extensive renovations, the odd holiday, all treats. When I've run out of money he's transferred to me. When he's run out of money I've transferred to him. We've just kind of gone with the flow. I had a period of low income due to mat leaves and he had a period of low income due to studying.

We are now moving house so have decided to put everything together. We are thinking of one pot where all the money goes and at the end of the month split the leftovers 4 ways- one for me, one for him, one for kids and one for savings. There won't be loads leftover but there will be some.

Have I over simplified this? What am I not thinking of?

That sounds good to me!!

We're also (DH and I) a one pot household. We have one account that both wages go into, one joint savings account, investment accounts (one in each name) that are filled from the main account.

It's super easy for us that way, he out-earns me by many £££, but there's no mine / his divide. He's of the mindset that he earns what he earns because I support him (and have done for the past however many years!) and there's no selfishness there over the money, I think that's the only reason it works, especially in our situation where one partner makes the majority of the money. We don't check who's been spending what or limit each other on what's going out of the account, bills go out on the 1st, savings and investments then go out, the rest we just spend what we spend.

It's the easiest way imo! Although I do see a lot on MN of people that keep separate accounts and then transfer into a joint for bills and spending money is kept separate, which also seems a good way.

I think what most people do is

all money goes into a shared account

bills, savings, investments, pensions, holiday and car pots come out of it - As does personal spending money, which should be equal and will go into your separate accounts to do with as you wish

And make sure you own your property equally, and also if you want to equal out your pensions (if you’ve been on mat leave yours probably isn’t worth as much )

You probably have life insurance but if not you both should

I never really get this equal money leftover to spend idea

we just put all money into joint account and agreed what to save - that was transferred to savings

the rest just stayed in joint account and if I wanted shoes or whatever bought them, likewise if he went for beers or bought jacket it came from joint account. Neither of us kept tabs

Money will be too tight to not remove spends from the joint account. Also we both have different spending priorities. Hopefully it'll be OK!