Joint Finances

[anonymous-user]

danny0001uk1 said:

But why does Mr Pay in 60 percent and his miss pay 40 percent?

Because he earns 60 percent of the joint net wage.

[Zetec-S]

danny0001uk1 said:

Tit For Tat said:

danny0001uk1 said:

Please could someone explain this with figures,

Say all bills = 1k a month

George Earns 1500 and his gf earns 1000 both after tax per month

Does George put in 60% of 1500 and she puts in 40% of 1000?

No. They pay in 60% and 40% respectively of the 1K bills total.

So Mr pays 600 quid, and Mrs pays 400.

But why does Mr Pay in 60 percent and his miss pay 40 percent?

Because he earns more.

[djc206]

GG89 said:

We have 1 joint account for bills and our own accounts seperate

Couldn't have it any other way.

Same.

We both pay in the same to the joint account each month. I tend to pay for meals etc when we go out as I earn about £15k more than my gf at the moment but we are on the same pay scale so eventually once we both hit the top (in around 7 years) we'll be earning the same. I have offered to pay more proportionate to our earnings but she's having none of it which in my eyes makes her a keeper!

My parents always had a joint account which wages went into because there was a massive earnings imbalance and kids involved. My grandparents however always had their own accounts and were very particular about paying each other back for things including pennies for bread and milk! I like to think I live in the happy middle ground.

[Jockman]

Henners said:

When he buys me a gift or vice versa it's nice not to see it on the account before we are given it! We do gifts / surprises pretty frequently. It also makes spotting any iffy transitions easier.

My wife is taking me away for my 50th after November so she has asked me to transfer £1,000 in to her account.

It's going to be a wonderful surprise when I find out where

It was New York and Monte Carlo for my 40th.

[mandos_01]

danny0001uk1 said:

Tit For Tat said:

danny0001uk1 said:

Please could someone explain this with figures,

Say all bills = 1k a month

George Earns 1500 and his gf earns 1000 both after tax per month

Does George put in 60% of 1500 and she puts in 40% of 1000?

No. They pay in 60% and 40% respectively of the 1K bills total.

So Mr pays 600 quid, and Mrs pays 400.

But why does Mr Pay in 60 percent and his miss pay 40 percent?

Mr earns - 1500
Mrs earns - 1000
Total earned - 2500

Mr % of total = 1500/2500 = 60%
Mrs % of total = 1000/2500 = 40%

Thus they pay bills 60/40

[Henners]

Jockman said:

Henners said:

When he buys me a gift or vice versa it's nice not to see it on the account before we are given it! We do gifts / surprises pretty frequently. It also makes spotting any iffy transitions easier.

My wife is taking me away for my 50th after November so she has asked me to transfer £1,000 in to her account.

It's going to be a wonderful surprise when I find out where

It was New York and Monte Carlo for my 40th.

My fave was borrowing his iPad just before Christmas...

Ads based on search history... It's like PH saying yelling 'Bet you can't wait for your new iMac'

[Jockman]

Henners said:

Jockman said:

Henners said:

When he buys me a gift or vice versa it's nice not to see it on the account before we are given it! We do gifts / surprises pretty frequently. It also makes spotting any iffy transitions easier.

My wife is taking me away for my 50th after November so she has asked me to transfer £1,000 in to her account.

It's going to be a wonderful surprise when I find out where

It was New York and Monte Carlo for my 40th.

My fave was borrowing his iPad just before Christmas...

Ads based on search history... It's like PH saying yelling 'Bet you can't wait for your new iMac'

Top Tip, though she uses Travelbag and tends to get them to sweep the entire globe !!!

[mattnovak]

Simple example of the maths.

Bills are 1000.
Mr earns 1500 per month
Mrs earns 500 per month

Total earnings 2000 (1500+500)

Mr therefore contributes 75% of earnings (1500/2000)

Mr therefore pays 75% of the bills - 750.

[Tit For Tat]

danny0001uk1 said:

But why does Mr Pay in 60 percent and his miss pay 40 percent?

Because I believe in the original example that was the % differential of total household income?

[Tit For Tat]

BRISTOL86 said:

They do, but having been together for 15 years BEFORE marriage it takes a lot of the ambiguity out of it.

I wouldn't feel comfortable doing the same with someone I'd only known a couple of years for instance.

I am sure Mrs B is a fine and trustworthy lady.

[Tit For Tat]

Henners said:

Sad you see things this way, do you have a partner? If so, why don't you trust them?

Edited by Henners on Friday 7th July 15:50

I am afraid my rather jaundiced view is a result of coming across various examples of finances going pear shaped due to joint accounts through my work.

I am sure that all of these couples trusted each over 100% at the time of setting up their finances like this, but..................

[RegMolehusband]

If you are or were teenage sweethearts starting out in life together then a joint account is the way ahead.

If you're on your second marriage and you've each attained your independence and own means then separate accounts and then a smaller joint account for food and bills is what's needed.

My second wife pays largely for her clothes and her daughter's private school fees out of her account, and I pay for essentials like quadcopters, telescopes and bits for my Caterham out of mine.

As it works out, I earn a fair bit more than she does so I tend to pay for many meals out, the bigger unexpected bills and, because her school fees limit her disposable income, most holidays. It works for us (though mostly for my wife)

Edited by RegMolehusband on Friday 7th July 17:07

[drainbrain]

Jockman said:

GT03ROB said:

Granfondo said:

Is there any married couples with separate accounts?

yes

Yup - as previously posted.

Yep. Sort of.

[mcg_]

Me and the misses have got so much money is doesn't even matter

[33q]

We put all income into both joint and shared accounts to achieve the best interest etc

But we do have separate spending allowances .... a budget if you like. And it is kept to by joint agreement.

All boring spreadsheets ....but it works for us....at least for the past 32 years!

[Jockman]

mcg_ said:

Me and the misses have got so much money is doesn't even matter

[anonymous-user]

mcg_ said:

Me and the misses have got so much money is doesn't even matter

Top bombing.

[drainbrain]

Jockman said:

My wife is taking me away for my 50th after November so she has asked me to transfer £1,000 in to her account.

It's going to be a wonderful surprise when I find out where

It was New York and Monte Carlo for my 40th.

If, 10 years later, it's MC again - the same MC I'm just back from - the grand should almost cover a night in a good hotel and a good dinner.

Best transfer her £10000 if that surprise is to be wonderful.

[Jockman]

drainbrain said:

Jockman said:

My wife is taking me away for my 50th after November so she has asked me to transfer £1,000 in to her account.

It's going to be a wonderful surprise when I find out where

It was New York and Monte Carlo for my 40th.

If, 10 years later, it's MC again - the same MC I'm just back from - the grand should almost cover a night in a good hotel and a good dinner.

Best transfer her £10000 if that surprise is to be wonderful.

Fair comment mon ami. Pretty sure it was Le Meriden 10 years ago.

I have a funny feeling we're going back to Dubrovnik Old Town.

[NickCQ]

RegMolehusband said:

essentials like quadcopters, telescopes and bits for my Caterham