Married? Joint or Seperate Checking Accounts?

[Jspafford]

What's your thoughts on this? Anyone married want to comment?

 

[fastpakr]

My wife and I maintain two accounts, but we have access to each other's just in case. As long as you have good communication and trust each other completely, there's no reason not to share an account. The only reason we have two is because I use NavyFed and she prefers a local bank.

 

[86freebie]

first thing, do you want it to last. i am assuming yes. ASK HER.

lol

 

[Jspafford]

With her job she's off in the summer. She's picked up a second 'summer' job but it is not quite going to cover what he normally pays out. We split everything. I make enoung to cover where she will be lacking over the summer.

I was thinking it would be easier to put all the money in one pot and just pay all the bills out of it.

Maybe keep out some 'mad money' for each of us. I am very budget minded.

Appears I have some thinking to do.

 

[Chris.S.]

We have a joint for bills, rent, savings, etc, and we also both kept our individuals for our own "mad money" as it's known.

Best of both worlds imo..

 

[mjonesjr]

I was thinking it would be easier to put all the money in one pot and just pay all the bills out of it.

Maybe keep out some 'mad money' for each of us. I am very budget minded.

Appears I have some thinking to do.

I just got married. A joint account is in our future; as soon as she gets her new social security card, we are combining our checking.

It will be a ton easier for us to pay out of one checking account and each of us have a Visa card to it.

We am very budget minded (she is an accountant and I just want to know where my money goes). I created an Excel spread sheet with our expenses and income broke down weekly. The spreadsheet will carry over any money not spent in a week to the next, add it up, subtract our known expenses with places for any other money we spend through out the week, and give me a total. I have all my known expenses placed on the weeks they are due.

If you want, I can clear a copy of my spread sheet out and send it to you.

 

[Sasquatch_Ryda]

We have seperate accounts but have access to eachothers as well as having a joint visa.

 

[Mac]

We have a joint for bills, rent, savings, etc, and we also both kept our individuals for our own "mad money" as it's known.

Best of both worlds imo..

That's the way we did it, each had our own, me for the toys and her for her horses. When the joint ran low we just each thru a paycheck or two in it. That worked good for us.
Dave

 

[Jspafford]

Problem is, I am working two hourly jobs, so my checks vary weekly. She is a sustitute teacher, and will be working hourly come summer. I wish we had a set amount we got each week, but it changes.

If you want to shoot me a email with your spreadsheet. Thanks

justin@therangerstation.com

 

[mjonesjr]

I will email it to you when I get home.

 

[Ozwynn]

I just got married. A joint account is in our future; as soon as she gets her new social security card, we are combining our checking.

It will be a ton easier for us to pay out of one checking account and each of us have a Visa card to it.

you sir, need to rethink that. when we just had 1 joint account we had trouble tracking it because receipts get lost. we have 2 accounts with access to each others account.

 

[mjonesjr]

you sir, need to rethink that. when we just had 1 joint account we had trouble tracking it because receipts get lost.

Trust me, neither of us will lose receipts. She is an accountant (money cruncher) and I am tight with a check book.

 

[Jason]

Me and the wife keep separate accounts. We split the bills equally according to income, and then we know how much fun money we have. She is into photography and I am into bikes so you can only imagine how pricey that gets. It would be a battle royal if the money got pooled because one of us would go beyond the prudent limit. She would have that IR camera she wants or I would have another supermoto.

 

[Jspafford]

Me and the wife keep separate accounts. We split the bills equally according to income, and then we know how much fun money we have. She is into photography and I am into bikes so you can only imagine how pricey that gets. It would be a battle royal if the money got pooled because one of us would go beyond the prudent limit. She would have that IR camera she wants or I would have another supermoto.

THis is what I am afraid of. We split the bills as it is. I pay the house payment/insurance/her car payment/cell phones/my expenses. She pays utilities/groceries/her student loans/her expenses.

I pay her car payment because it was my idea to buy it for her. The ranger she had, I had already paid off. I've sold it now.

I am thinking we should add up all our bills, divide by two and both put in enoungh to cover half. Keep the rest for ourselves in a seperate account we already have.

 

[superdave1984]

My last marriage we had two joint accounts. One got my check deposited every week, the other had hers. We paid all the bills and my business expenses from mine, groceries and misc stuff came from hers. Plus if I wanted to buy something, I had my money and she could do the same. We had a monthly bill paying session where we went over everything to see if it was within tolerance. We tried to maintain a certain balance in both, but some months that was very difficult or impossible.