How are you handling you finances once you get married?
My mom and dad have everything combined. Most of my friends are completely independent of their men fiancially. I think my FH and I will do a combination of joint and separate bank accounts.
What are you doing? What are the pros and cons?
melissaandsean
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Re: Joint or Separate Accounts?
we'll have joint accounts, and I'll probably have one separate account. FH doesn't do the finances really. He just hands over his check every week. So he doesn't need or want an account.
NPbride
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Posted by melissaandsean
we'll have joint accounts, and I'll probably have one separate account. FH doesn't do the finances really. He just hands over his check every week. So he doesn't need or want an account.
That sounds like my FI! He has his check deposited into our joint checking and I give him money to last him for the week. Once we close on the house we'll have a joint checking, 2 joint savings, and he and I will each have 1 savings on our own.
takeoutcook
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FH is a financial planner, so he's all about balancing the checkbook. We'll do a combination.
katieshope
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Right now we have a joint savings, we put all of the money we got from our engagement in there. I don't know what we will do when we get married though.
Mrs_B
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Posted by melissaandsean
we'll have joint accounts, and I'll probably have one separate account. FH doesn't do the finances really. He just hands over his check every week. So he doesn't need or want an account.
same with us. he gets an allowance
ssbride05
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Posted by takeoutcook
FH is a financial planner, so he's all about balancing the checkbook. We'll do a combination.
me too!!!!!! I will also prob have my own account as well.....
Latrice
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Posted by samnjenna
How are you handling you finances once you get married?
My mom and dad have everything combined. Most of my friends are completely independent of their men fiancially. I think my FH and I will do a combination of joint and separate bank accounts.
What are you doing? What are the pros and cons?
In one of our marriage counseling sessions with our Pastor, he stated that we should have:
Joint accounts - to pay bills out of. ie: mortgage etc.
Joint saving accounts: to save for future purchases/vacations etc.
Seperate accounts - for our own spending cash flow. He stated on birthdays, holidays and so forth, we should not be taking money from any of the joint accounts to buy gifts for one another. That should come from our separate accounts.
Hope that helps!!
girlygrl33
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We are doing both.
SomethingBlu
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We have had a joint account with Direct Deposit since we got engaged. No more money fights, ever! since our money gets put in automatically.
1005bride
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We're going to do both. We're going to have joint checking & savings and we'll both keep our own seperate savings.
Mrs. dleeny
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FH and I have a joint account established and seperate accounts as well.
we'll probably keep it that way for a little while.
in the long run, I would like to have 1 account... just like my parents do. it just seems so much easier than having 3 different checkbooks.
Mrs. dleeny
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Re: Joint or Separate Accounts?
Posted by Latrice
Posted by samnjenna
How are you handling you finances once you get married?
My mom and dad have everything combined. Most of my friends are completely independent of their men fiancially. I think my FH and I will do a combination of joint and separate bank accounts.
What are you doing? What are the pros and cons?
In one of our marriage counseling sessions with our Pastor, he stated that we should have:
Joint accounts - to pay bills out of. ie: mortgage etc.
Joint saving accounts: to save for future purchases/vacations etc.
Seperate accounts - for our own spending cash flow. He stated on birthdays, holidays and so forth, we should not be taking money from any of the joint accounts to buy gifts for one another. That should come from our separate accounts.
Hope that helps!!
That is REALLY good advice!!
VS11
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joint accounts....
JBKempf
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We have a joint account.
sunflowers74
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We just have now, and will still have after we get married a joint checking and savings acct.
Like a bunch of others, FH doesn't want to have anything to do with the finances, bills, etc. I handle it all.
Bunnymonkey
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Re: Joint or Separate Accounts?
joint is our main one, we use it for everything. We each have a checking of our own. My $$ from my part time jobs is my 'play' money for clothes and hair and stuff. My entire paycheck from my 9-5 goes to pay bills and rent.
bridegirl
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we have everything all together. Since we got engaged and bought a home, it just makes more sense for us...plus I am absentminded when it comes to balancing checkbooks!!
M&LSept1606
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we have a joint savings, but will probably keep our checking accounts separate. Only because balancing a joint checking can become a nightmare! I work for a bank, and I see many mistakes when it comes to balancing joint accounts. Wife writes out a check, husband doesn't know and withdraws cash, and the check bounces...etc.
I say keep a joint and your own account. It's definitley easier to manage.
We might open a joint checking just for house bills like the mortgage and utilities.
cocoa
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Posted by Latrice
QUOTE]
Joint accounts - to pay bills out of. ie: mortgage etc.
Joint saving accounts: to save for future purchases/vacations etc.
Seperate accounts - for our own spending cash flow. He stated on birthdays, holidays and so forth, we should not be taking money from any of the joint accounts to buy gifts for one another. That should come from our separate accounts.
Hope that helps!!
this is pretty much what we have. we opened up a joint savings account, but still have sep. checking for bills. he pays certain bills and i pay certain bills. in another couple of months, we'll start with joint checking, too. but keep sep. checking. i also have a stash that is emergency money. it is for when we get a house...that cushion that we forget about and hopefully will never have to use!
