Thank you ariellewhitney for choosing me to be BOTW!
FH and I spent our whole weekend taking our Pre-Cana course. Although it wasn't as much fun as people made it out to be, I'm glad we did it but I am also glad it is over!
This was one of the topics that ws brought up at Pre-Cana and I thought it was a pretty good question.
How are you and FH going to handle finances once you are married? Joint accounts? Separate accounts? Does one person want joint and the other wants to keep things separate?
FH and I have lived together for over 3 years now so we sort of already figured this out. We have separate checking accounts and 1 joint savings account. I like to have my own money without FH being able to say anything and even when I 'run out' he will give me cash, so it is like the best of both worlds. We split the house bills - him: mortgage me: Lipa, water, cable etc.
I originally wanted a joint account but FH didn't. At first it hurt my feelings, but now I'm over it and it really seems to work out the way we have things.
sandr325
Posted:
Member since
Re: **QOTD - 3/11/13**
We had a condensed Pre-Cana because of Hurricane Sandy and one of the couples running it got sick. I felt that we didn't get anything out of pre-cana but a check.
As for finances, we live together and have a joint checking account. Once we are married I don't feel that it will be necessary to have 3 checking accounts and 3 saving accounts. We will also have too many credit cards. FH is giving some resistance but I know he will give in. We need to combine car insurance & phones and really watch our spending so we can buy a house shortly after we are married. Also, neither one of us is touching any wedding money, this is going into a savings account.
2013Bride
Posted:
Member since
**QOTD - 3/11/13**
We started a joint account for all of our monetary gifts after our engagement party in July, 2011 and have been depositing money in once a month since then. We have separate savings & checking accounts that will probably just stay the same.
dmlentz
Posted:
Member since
**QOTD - 3/11/13**
We have a house together so we already basically combined bills and accounts.
We each have our own seperate savings/ checking accounts but we rarely use them. We mostly use our joint checking account and we also have two joint savings accounts one is for wedding only related stuff. It works best for us like this
lauren1802
Posted:
Member since
**QOTD - 3/11/13**
i asked FW to switch to my credit union after we get married- not only because i hate chase, but also because it will make it easier to set up our accounts/ transfer/ etc. i think we will have one savings, one 'special purpose' and each have our own + a joint checking. seems like a lot when i write it out lol
scottsbride
Posted:
Member since
**QOTD - 3/11/13**
We have joint checking accounts. Whatever money we have we share.
brooklyngirl28
Posted:
Member since
**QOTD - 3/11/13**
Joint. We tried having separate accounts and things got way too complicated. The only other thing I have is a separate ING account for shopping $. It automatically withdraws $50 a week out of our checking.
natalierose1085
Posted:
Member since
Re: **QOTD - 3/11/13**
Once we closed on our house we combined all of our accounts. It was too complicated to take turns paying bills and whatever else when we both own the house equally together. We also combined our car insurance and cell phones and all of that around the same time. So now we deposit our paychecks into the same account and use that account to pay all of our bills. We do have a separate account for the wedding bills, it is also a joint account. We no longer do our finances separate.
lauren1802
Posted:
Member since
**QOTD - 3/11/13**
we saved so much money combining our car insurance, i wish we had done it as soon as FW moved in!!! (not sure if & how long you have to wait)
MrsK
Posted:
Member since
Re: **QOTD - 3/11/13**
We have separate accounts right now and its so fustrating. Splitting the bills for the house is a hassle. FH has both of our accounts set up on quicken so he can see our financial situation which helps but it is still hard to keep track when you have two separate accounts. However, we decided to wait until after the weeding to switch to joint accounts because I don't want to have to be bothered with getting new checks, credit cards, and debit cards twice (once now and then once when I change my name).
cupcake8503
Posted:
Member since
**QOTD - 3/11/13**
Separate accounts. FH deposits money in my account every month for his portion of the bills & our savings. I make sure the bills are paid. This works for us so I don't see the point in changing it. We split everything for our home expenses and whatever is left over we use at our own leisure. If I need money he will give it and vice versa, though this hardly ever happens.
mattandjess2013
Posted:
Member since
**QOTD - 3/11/13**
We will each have our own account and then have a joint account. We are currently trying to figure out which bank because I am not changing to Capital One and he doesn't want to switch to Chase(he's just being stubborn lol).
sandr325
Posted:
Member since
Re: **QOTD - 3/11/13**
Posted by mattandjess2013
We will each have our own account and then have a joint account. We are currently trying to figure out which bank because I am not changing to Capital One and he doesn't want to switch to Chase(he's just being stubborn lol).
Who will be doing the banking? When FH moved in we went with my bank since I pay the household bills.
mattandjess2013
Posted:
Member since
**QOTD - 3/11/13**
We are probably going to set up the online banking to do our bills.
angelicd77
Posted:
Member since
**QOTD - 3/11/13**
FH and I have been combined since we got engaged in 2009. Im a control freak so both of our paychecks go into the same account and all of our bills come out of that account. We also have a joint money market that we use for our savings and wedding related expenses. We do have seperate credit cards but thats about it...
JojoBride
Posted:
Member since
Re: **QOTD - 3/11/13**
Posted by klk072285
Thank you ariellewhitney for choosing me to be BOTW!
FH and I spent our whole weekend taking our Pre-Cana course. Although it wasn't as much fun as people made it out to be, I'm glad we did it but I am also glad it is over!
This was one of the topics that ws brought up at Pre-Cana and I thought it was a pretty good question.
How are you and FH going to handle finances once you are married? Joint accounts? Separate accounts? Does one person want joint and the other wants to keep things separate?
FH and I have lived together for over 3 years now so we sort of already figured this out. We have separate checking accounts and 1 joint savings account. I like to have my own money without FH being able to say anything and even when I 'run out' he will give me cash, so it is like the best of both worlds. We split the house bills - him: mortgage me: Lipa, water, cable etc.
I originally wanted a joint account but FH didn't. At first it hurt my feelings, but now I'm over it and it really seems to work out the way we have things.
We already have a joint savings account...I think for now we are keeping out checking accounts separate. We both feel the same about this!
