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Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

Jodi73 Posted:

Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

LisaT Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

we haven't totally combined finances yet (our goal for 2003) but I think most of it will fall to me cause he's a bit forgetful. But we have everything set up on electronic auto-pay, so there's really nothing to do but monitor. I'll leave the taxes to him though.

LisaW Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

We never really decided...I just kind of took it over.
He always forgets to pay bills.
When we were dating his electricity and cable were shut off b/c he forgot to pay the bills!!! The money was sitting right in his account too
michele31 Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

I still have my own checking and savings account but Scott and I have full access to each others accounts. I HATE dealing with money (I just like to spend it ) so Scott pays all the bills, balances the books etc.... After we close on the house this month I will start to have my direct deposit into his account- then it will become OUR account. I haven't change my name (hypenated it) on anything yet and since I have to change my address now I figured I will do everything once we are in the new place.
I think it is a hard thing to combine finances when 2 people have been on their own for a long time and have their own way to do bills, spend etc...
Teri Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

We lived together before the wedding so nothing has really changed. We have a joint savings from the wedding $$, but separate accts otherwise. Not sure when we'll open a checking - it's not really needed yet. We did change our beneficiaries though.....

07052002 Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

Bills are in my name for if he is deployed and I need to close anything. We have a joint account for play money. His paycheck goes into his account, I bring him our checks written out for our bills and he signs them and I mail them.
I have the savings in my name in case of emergency that he knows about but doesn't know how much may or may not be in there.. and my name is on the account our wedding money has been sitting in.

The only reason we don't have joint checks for the account his pay goes into is because it's bad enough they have a colorado address and we live in FLA (and won't be long till were in Oklahoma) so why waste the money on new checks all the time.
Cira Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

We are the same as Michele ... each have our own checking accounts but both names are on it. As for our savings - those are joint and not considered mine/his (since most of our money is going to the house anyway)! Our paychecks get deposited into our own accounts but they are linked, so we just transfer money back and forth.
As far as bill paying ... I am so glad to pass it onto Rob, but my bills, such as my credit card, phone bill, and anything else ... I worry about. Until it's all joint. He's a CFP and he's just so on top of everything and good at this stuff. Even though he complains about the responsibility. He was joking with me yesterday how my checkbook is not up to date!
Niecey Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

I am kind of like Teri. We just kind of fell into things when we moved in together.

We opened a joint account shortly after getting engaged which was the wedding account now turned house account. We both have our own checking accounts and for now we are keeping it that way. I am very anal about balancing the account and it is easier to keep separate checking accounts. We pay our own credit cards and stuff like that from those accounts. I pay the rent and household bills from my checking account. He puts about the same amount in the saving account. He has a couple other savings accounts and trading accounts which I have not yet put my name on.
ChristineC68 Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

Our wedding account has turned into our regular joint account for house and combined expenses. We both have seperate checking & savings account from our single days. Most of our paychecks goes into the joint accounts. For me, the rest is used to pay some personal debt and is also my spending money.

Don pays all the house bills since he is very meticulous about them - I am terrible with my personal finances
abc7077 Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

This was a big issue before we got married. At least it was MY big issue because I had been single and handling my own things for such a long time. We opened up one joint savings account and each have our own checking accounts. The checking accounts are linked to the savings account but we can't get into each other's checking accounts. We just split all of the living bills, maintenance, mortgage car stuff, food etc and then pay for our own charge cards and school loans etc. I give him a check for half of the bills and he pays the bills. So far it has worked but it has only been a month lol.

februarybride Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

Guess I'm the minority here.... We had a joint savings account that we opened up when we got engaged. Once we were married we opened a joint checking. I do all the financial stuff since I'm anal about paying bills, saving $$ and balancing everything.
At first I thought we'd keep our stuff seperate but as we started talking about it, it just got too confusing.
Latina511 Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

Well I am in charge of making sure everything gets paid and saving money...etc. We have a checking/savings account under my name which is where everything gets deposited.

michele31 Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

I also think it is important that if you pay 1/2 of the bills you both make the same money. Most of the finance books I have read say that couples should pay the same percentage of their income into household expenses. That way if one makes a lot more than another the person who earns less does not have to skrimp to get by, while the high-earner can buy whatever they want.

VickiC Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

I'm also in charge of the finances. We have joint everything, but I write all the checks out. It was just easier that way since it used to be my own checking account and I just added his name. We do talk about the bills though and what needs to get paid and things like that so he's up to date on everything.

NIHA Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

We also opened up a joint savings/checking before we were married, and I pay all of the bills through that. DH and I have our own retirement accounts, and we both put our pay checks into the same accounts. I guess I'm in the minority too. For me, part of being 'married' is sharing our money. Of course, if I thought DH had very poor spending habits and that we'd be in trouble later, I would probably have a separate account. Actually, my mother always said that I should have my own account, but that's from her own experience of my father going into debt w/o savings.
I guess it's kind of a control thing for me and that's why I pay all the bills (DH doesn't know when anything is due).
shamma Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

Well hubby and I did not combine accts. We have a joint investment a/c and a joint saving a/c. He pays the bills that he is responsible for from his personal chkng and I pay what I am responsible for from my chkng. I works wonderfully for us. He would like for me to take over paying all bills, b/c he is forgetful, sometimes he pays the same bill twice, b/c we pay by online banking. I am still considering it.
dkga1026 Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

we have a joint saving/checking account that we opened as soon as we got home from the honeymoon...we thought it would be easier to keep track of our money if we kept it as concentrated as possible...(because we're both scatterbrains when it comes to $$$)...we take turns paying the monthly bills....

Sassy Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

This was easy for me. Plain and simple, I'm in charge
I didn't give him a choice, I'm much more organized when it comes to these matters

BTW, we do maintain separate accounts as well, but everything household and wedding related is handled with the joint account, which I control
Sassy Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

Come to think of it, I don't even think he knows our joint account number !!!
Sassy Posted:

Re: Question from a bride to be...How did you all decide who was going to be in charge of finances, bill paying, bank accts?

Oops, am I in the Newlywed board, sorry for butting in, I'm not even a wife yet!!!!

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