sping off question - those with individual bank accounts
little j
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sping off question - those with individual bank accounts
how do you decide how much to put in it? is it a % of your paycheck or a set amount?
also aside from joint checking, how do you decide how much to put into joint savings?
we havent consolidated our $$$ yet since we are just about to close (thank heavens) on a coop. so now we need to figure this out
help! thanks!
geegee827
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Re: sping off question - those with individual bank accounts
Our joint accounts are a percentage of our incomes. We use that account to pay our mortgage, household bills, car insurance, etc. We also put a percentage into our joint savings account. That goes for household improvements, vacations, etc.
The percentage we each deposit is based upon our incomes. For example, I make 60% of our combined income and DH makes 40%. Therefore, I deposit enough $$ into our checking account to pay 60% of our joint bills and he deposits enough to pay 40%. Same thing with savings - we came up with a set goal amount for each month and I deposit 60% and he does 40%.
halfbaked
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Re: sping off question - those with individual bank accounts
Posted by geegee827
Our joint accounts are a percentage of our incomes. We use that account to pay our mortgage, household bills, car insurance, etc. We also put a percentage into our joint savings account. That goes for household improvements, vacations, etc.
The percentage we each deposit is based upon our incomes. For example, I make 60% of our combined income and DH makes 40%. Therefore, I deposit enough $$ into our checking account to pay 60% of our joint bills and he deposits enough to pay 40%. Same thing with savings - we came up with a set goal amount for each month and I deposit 60% and he does 40%.
This is pretty much what we do. He makes almost double what I make (since he works off the books and pays minimal taxes! ) so we try to come up with however much we want to save in a month and then add the cost of the bills in and divide it up. We both take pretty much the same amount out of each paycheck, but since he gets paid every week (while I get paid every other week) it comes out to about to about double. However I also pay the phone bill as well as insurance and make deposits into my 401k.
