How do you pay the bills
Hi Ladies:
Was wondering if when you moved in and married, how do you pay your bills. Are you still chipping in from both sides or is all your money going to one account?
THANKS!
no prob Kate. I am the saver and Rob isn't. In fact, he has persuaded me to by some big ticket items- speakers, stereo reciever, digitial ready VCR, etc....but always after doing a lot of research over the internet...regarding features of the models..then shopped the best price.
In the end, I am always happy with the purchases and now we have a decent home theater.Which we can enjoy alone & w/ fam and friends...for years to come.
Same for our Mission bedroom set and dining room set.
How do you pay the bills
For now, we pool our paychecks and just funnel investments, pay bills etc from our joint cash flow. We both earn the same amount of $$ and there are no allowances so to speak. Any unusual expenses over 300 need a verbal agreement before hand but we're both moderate spenders so it hasn't been a problem to date. Paul keeps the books but its really REALLY detailed in Quicken so the trail of cash is clear....and I review periodically so I know what is going on.
So far it works (but it was the BIGGEST adjustment we've had so far) - with the understanding that it can be modified at any time depending upon needs.
How do you pay the bills
what we have decided is to each put half of our paychecks into the joint account. The remaining goes into our own accounts. AT least that is what we talked about- rob is looking into having his job do it automatically. My job allows for split deposits directly into one or 2 accounts- he works at a much smaller company.
the joing account pays for all utilities. and we pay each of our own credit cards out of our own accounts.
WE just began to put our stuff from the joint accct on Quicken. Rob used it for years for his own account. So, we sit down together in front of the computer and pay the bills together.
Age or maturity?
Definately helps. I know some 25 year olds who are more mature than our 36 year old friends.
We are 31/30...and the maturity does help - in the relationship and in money. There is NO rush to spend b/c we are building a finanical portfolio. Although I've always been this way....there were times in my mid 20s when I did not understand the value of compounding in my 401K....or the real need to start planning for retirement. My sister and her fiancee are in their mid 20s and there is a marketable difference in our approach to finance. Then again, my 36 year old cousin doesn't have a Roth, traditional IRA, 401K, pension - NOTHING. BUT she has amazing clothing and shoes....all about values and awareness. :)
THANKS!
Thanks ladies: We are currently doing this. Our rent - $1000.00 so he pays 700 and I give him 300 and then I pay the utilities, but I feel I am the one who shops for the food (sometimes he does), I buy all necessities, etc. Last night I told him we need to each put 690.00 per month into the joint account and pay the bills from there. He was fine with that. I think I'm frustrated because I don't always want to follow the bills and utilities. I want him to share writing them all out, etc. I am a big spender and he is a saver. Phyllis - I'm going to do what you are doing. That was my goal and then we'll each have our own money to pay our seperate bills with. Thanks for the advice girls! It's helped a lot.
WE just began to put our stuff from the joint accct on Quicken. Rob used it for years for his own account. So, we sit down together in front of the computer and pay the bills together.
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