Thursday QOTD

Tracey1979 Posted: Oct 29, 2009 12:47 AM

Thursday QOTD

Before the wedding, did you and FH discuss how you were going to combine your finances post-wedding? Are you combining your money or keeping separate? How much did you plan this ahead of time?

Tomlaur0808 Posted: Oct 29, 2009 01:15 AM

Re: Thursday QOTD

It wasnt really a big discussion we just said we'll combine accounts - esp now that Im unemployed & only getting a little unemployment each week - much easier to just combine monies & pay bills out of one acct instead of 2.

ttdiff11 Posted: Oct 29, 2009 06:18 AM

Re: Thursday QOTD

all our money is put together, makes it easier bc we live together

whtevjenny Posted: Oct 29, 2009 06:32 AM

Re: Thursday QOTD

we live together, too, and are going to combine accounts. I have friends that do it the other way, though, but I like FH being able to help me monitor my spending - because it can EASILY get out of control.

geegee827 Posted: Oct 29, 2009 07:59 AM

Re: Thursday QOTD

we are doing a combination of both:

we are each maintaing our own checking and savings account

we also have a combined checking and savings account. We each deposit a set amount into these accounts each pay period.

It may seem silly to some but this works for us because we are both older and use to having our 'own' money and being in charge of our own financial futures. It would be hard for each of us to give that up.

The majority of our money goes in our joint accounts, but we each maintain our own too.

alli3131 Posted: Oct 29, 2009 08:23 AM

Re: Thursday QOTD

We lived together for 3 years before the wedding so they were already combined.

But I think it is def. a conversation that needs to be had because it might not be a nice one.

LadyDuda81509 Posted: Oct 29, 2009 08:33 AM

Re: Thursday QOTD

we have a joint savings and a joint checking, but still have our own indivdual checkings where our direct deposits go, we just transfer what we need for our bills and saving every month and what ever we have extra in our own accounts is pretty much ours to play with.

Tracey1979 Posted: Oct 29, 2009 08:41 AM

Re: Thursday QOTD

Posted by geegee827

we are doing a combination of both:

we are each maintaing our own checking and savings account

we also have a combined checking and savings account. We each deposit a set amount into these accounts each pay period.

It may seem silly to some but this works for us because we are both older and use to having our 'own' money and being in charge of our own financial futures. It would be hard for each of us to give that up.

The majority of our money goes in our joint accounts, but we each maintain our own too.

I like this idea of both putting same amount in each month

springsandra Posted: Oct 29, 2009 08:42 AM

Re: Thursday QOTD

We didn't live together before and never talked about it before the wedding. As soon as we were married and I moved in, we opened joint accounts and combined everything.

My DH is very traditional about things. It works for us -- I think that's what matters most.

KerriJohnS Posted: Oct 29, 2009 08:49 AM

Re: Thursday QOTD

Hmm.. we did when we first moved in together. it started slowly with having a joint account for some bills.
now his money is my money and my money is mine too!! no really it's all just our money. We are one team. I still will have my seperate checking and savings account....but our money is going to be combined in one pot.

Also I'm going on his health insurance.... just another way of comingling funds.

MrsDtoBe09 Posted: Oct 29, 2009 08:54 AM

Re: Thursday QOTD

Our money has been combined for the past two years so nothing is going to change. FH is in charge of the money because I'm not really a financial numbers person!

coldasice217 Posted: Oct 29, 2009 10:22 AM

Re: Thursday QOTD

We're still in the process of discussing how we're going to do it. We will probably keep our own checking accounts that our pay checks go in to, but put each others names on the account. I will close out my savings, because I get literally .000001% interest on it, and we'll do a joint savings or money market to get a better rate. FH puts a lot in to CDs too, but we might stop that if we want to be a little more liquid. He originally had this idea that my name wouldn't be on anything because he thinks he's Rockefeller and that I'd take everything he has but he's since gotten his head out of his butt about it and realizes we need to be on everything together since my salary will cover basically our rent, and I need access to his money for food shopping, etc.

Tracey1979 Posted: Oct 29, 2009 11:26 AM

Re: Thursday QOTD

Posted by coldasice217

We're still in the process of discussing how we're going to do it. We will probably keep our own checking accounts that our pay checks go in to, but put each others names on the account. I will close out my savings, because I get literally .000001% interest on it, and we'll do a joint savings or money market to get a better rate. FH puts a lot in to CDs too, but we might stop that if we want to be a little more liquid. He originally had this idea that my name wouldn't be on anything because he thinks he's Rockefeller and that I'd take everything he has but he's since gotten his head out of his butt about it and realizes we need to be on everything together since my salary will cover basically our rent, and I need access to his money for food shopping, etc.

He think's he's Rockefeller... lol

MrsCM Posted: Oct 29, 2009 11:40 AM

Re: Thursday QOTD

We combined about two months after becoming engaged which was about a month after I moved in. He makes more than I do but I've been helping him out with his business and I had more in savings and his bank (NEFCU) offered 4% interest on checking which is unbelievable so it made a lot of sense to move everything around. We did it around the time that we were laying out a lot of cash for the wedding also.

MoochsWifey Posted: Oct 29, 2009 04:46 PM

Re: Thursday QOTD

We've lived together for over 6 years. It's been our money, our chores, our everything for a long time!

StellaStar13 Posted: Oct 29, 2009 05:12 PM

Re: Thursday QOTD

We haven't had the post wedding discussion yet but I sure we will be combining our $$$ once we buy a house. We already have a joint savings account. One thing I def know is that I want us both to have joint and separate savings & checking. I think its important for everyone to have their own $$$$

JennyAPH Posted: Oct 29, 2009 05:20 PM

Re: Thursday QOTD

DH and I lived together for a year before the wedding and we combined our bank accounts then...we liked it so much better than having our own seperate accounts, just found it worked better for us.

After the wedding he added me to his credit card so we only had one bill to pay instead of two.

geegee827 Posted: Oct 29, 2009 06:26 PM

Re: Thursday QOTD

Posted by Tracey1979

Posted by geegee827

we are doing a combination of both:

we are each maintaing our own checking and savings account

we also have a combined checking and savings account. We each deposit a set amount into these accounts each pay period.

It may seem silly to some but this works for us because we are both older and use to having our 'own' money and being in charge of our own financial futures. It would be hard for each of us to give that up.

The majority of our money goes in our joint accounts, but we each maintain our own too.

I like this idea of both putting same amount in each month

We don't put in an equal amount - but an equal percentage of our salaries. I make about twice what FH makes, so I put in double what he does. The money that we put into our checking account covers our joint bills - mortgage, utilities, car insurance, food, etc. We then put whatever is left over into savings.

We are both responsible for our 'own' bills like credit cards - we don't carry a lot of debt, so it's not a big deal.

Amberrenee6705 Posted: Oct 29, 2009 06:29 PM

Re: Thursday QOTD

We keep our money seperate. We've always been this way, it works for us. He pays certain bills and I pay certain bills. I like having my own money and him having his