Joint Finances

[spikedjack]

Separate accounts and a joint however with a caveat here...

We split the joint net income into various pots, a joint for bills such as mortgage, food, dog etc. a couple of different savings accounts and then our individual accounts are left with identical amounts of money to do as we please with (fuel, food out, travel, clothes etc.) to which we mutually agreed.

Long and short of this is despite earning multiples of the other half, we are equal in what we have to "live on" whilst jointly paying for everything/saving. Of course i pay more, i earn more, however does it really make much difference?

would i prefer to see her struggle and me have a lot saved? of course not.

[drainbrain]

Jockman said:

ClaphamGT3 said:

drainbrain said:

ClaphamGT3 said:

Jockman said:

Separate Accounts. Never had joint accounts.

I pay for everything, including her credit card.

This

Are your SWMBOs

a) earners
b) non-earners
c) earners but from something you've set up to produce them an 'earner'

(mine's a c) btw)

C

C

Well, how surprising (not)

[GT03ROB]

Jockman said:

ClaphamGT3 said:

drainbrain said:

ClaphamGT3 said:

Jockman said:

Separate Accounts. Never had joint accounts.

I pay for everything, including her credit card.

This

Are your SWMBOs

a) earners
b) non-earners
c) earners but from something you've set up to produce them an 'earner'

(mine's a c) btw)

C

C

She says a)
I say b)
Truth is probably c)

.... somehow it works.....

[mangos]

georgefreeman918 said:

I recently purchased a property with my girlfriend and after many discussions, we came up with the following solution:

List all joint bills; mortgage, council tax, energy, water, broadband, tv, food, fuel, savings etc = £X

Then worked out the percentage I earned of our total monthly income as a percent e.g. 60%

We then each transfer our percentage of the monthly bills into a joint account. 60% + 40% = £X

We then each have our own accounts for cars, hobbies, general spending etc that are personal to each other.


I also 'estimate' monthly food and fuel costs and we put our percentage into the joint account. Therefore come the first of the month, all our bills are paid and money left is for spending.

Might be a bit overkill but it works well for us. Anyone else do similar?

Yes , this is exactly what we do too.

[supercommuter]

We have a joint account that she gets paid into (approx £1600). I put the same in again from my salary, but I also pay off the joint amex which gets used all month for everything, which normally totals this again. I then have the rest in my personal account for spending and savings etc.

Our mortgage and all bills are about 1200, so the money left in the joint account goes on things like holidays / weekends away etc.

[mcg_]

supercommuter said:

We have a joint account that she gets paid into (approx £1600). I put the same in again from my salary, but I also pay off the joint amex which gets used all month for everything, which normally totals this again. I then have the rest in my personal account for spending and savings etc.

Our mortgage and all bills are about 1200, so the money left in the joint account goes on things like holidays / weekends away etc.

Next time it would be a lot easier if you just told us how much you earned

[Henners]

Own accounts:

- she pays the mortgage
- I pay the mooring fee and school fees.

[supercommuter]

mcg_ said:

supercommuter said:

We have a joint account that she gets paid into (approx £1600). I put the same in again from my salary, but I also pay off the joint amex which gets used all month for everything, which normally totals this again. I then have the rest in my personal account for spending and savings etc.

Our mortgage and all bills are about 1200, so the money left in the joint account goes on things like holidays / weekends away etc.

Next time it would be a lot easier if you just told us how much you earned

why? I was just putting the amounts in as requested by previous poster, instead of percentages.

Who cares what a stranger on the internet earns?

[romeogolf]

supercommuter said:

Who cares what a stranger on the internet earns?

(1) People who earn less, but feel they deserve more.
(2) People who earn more and feel it makes them superior, so have to compare themselves to others to ensure they really are superior.

[wiggy001]

Like many on here - Joint account for bills and shopping, separate accounts into which salaries are paid. I used to earn double my wife so paid double into the joint account.

Since kids came along and the missus gave up work to raise them I put the full amount needed into the joint account and about £500 into my wife's account each month. She hates this scenario at the moment and feels she's not contributing financially (despite raising 2 kids, which is contribution enough in my eyes!).

As we've got used to this setup, when no. 2 starts school in 4 years my wife plans to return to work part time - I'll reduce that £500 by the amount she earns and it will go towards overpaying the mortgage.

[mcg_]

romeogolf said:

supercommuter said:

Who cares what a stranger on the internet earns?

(1) People who earn less, but feel they deserve more.
(2) People who earn more and feel it makes them superior, so have to compare themselves to others to ensure they really are superior.

3) people who find it very strange that people come on here talking about how much they earn and how they handle their finances down to exact figures.

Anyway, it seems I'm in the minority.

[Countdown]

mcg_ said:

romeogolf said:

supercommuter said:

Who cares what a stranger on the internet earns?

(1) People who earn less, but feel they deserve more.
(2) People who earn more and feel it makes them superior, so have to compare themselves to others to ensure they really are superior.

3) people who find it very strange that people come on here talking about how much they earn and how they handle their finances down to exact figures.

Anyway, it seems I'm in the minority.

Just do what i do and inflate your actual salary by a factor of 10

[supercommuter]

mcg_ said:

romeogolf said:

supercommuter said:

Who cares what a stranger on the internet earns?

(1) People who earn less, but feel they deserve more.
(2) People who earn more and feel it makes them superior, so have to compare themselves to others to ensure they really are superior.

3) people who find it very strange that people come on here talking about how much they earn and how they handle their finances down to exact figures.

Anyway, it seems I'm in the minority.

Clearly. You are in a finance section of a forum wondering why people are talking about finances, OP posted a question, I answered it.

I don't know any of you - I could of said I pay my Mrs salary of £450k per month 17 times. The left over change fills our super yacht. Makes no odds.

Edited by supercommuter on Monday 10th July 15:56

[Craikeybaby]

Since moving in together we've had a joint account that we contribute equally to for anything house/family related and meals out together etc. We both pay in the same, although at the moment my wife earns slightly more than me at the moment. Any surplus in the joint account goes into savings for home improvements/holidays.

Our attitudes to day to day spending are the same, but very different for discretionary spending, she like to buy loads of cheap crap, whereas I like to save up for sports cars/bikes etc. These aren't really compatible with having just one joint account.