Are you and your FI...

w+c3

combining finances when you get married?

elidellio

We are but we haven't sat down and talked about the logistics of it. We may have separate checking accounts for fun stuff and a joint one for shared expenses. Personally, I would prefer that we just combine everything but I'm not sure if he'll be on board with that.

cu97tiger

We already combined our main checking account. He has a separate checking account and we each have our own savings accounts. It has definitely been an adjustment but after about three months of struggle (thanks to Christmas and some unexpected bills), I think we are finally on the right track.

brittandjp

We are combining for the most part. We'll have our joint checking and savings accounts where the majority of our money will go for everything (bills, vacations, day to day things, dates, etc.). However, we'll also both have our own checking account as well. We've already decided on a predetermined (much smaller) amount we'll both set aside each paycheck for things like gifts for each other, large purchases (I don't want to feel guilty for buying $150 boots, things like that). However, I'd say at least 80-85% of our money will be going into the joint accounts.

ETA: I think at some point, we'll end up with just our joint accounts. However, that's such a big step that we wanted to ease into it. Hopefully it will go well and within a year or two we'll have gotten rid of those side accounts.

amh04

Yes - everything will be shared. We actually sat down a few weeks ago and went over the budget - but we've known we were going to join them once we were married, long before we were engaged.
I will have my name on all of FI's accounts (it's definitely a must in the military world, esp when he's gone) and FI will have his name on all of my accounts. We'll have a joint savings, a joint checking, then whatever accounts we already have each others names will be on. We just don't believe in keeping them seperate - what's mine is his and what's his is mine.

tiffk10

We already have a joint checking and savings account. It seemed logical to us when we moved in together to just go ahead and get it over will. We have separate credit cards though.

bethmerchant

I HIGHLY recommend joint accounts for joint expenses. I understand having your own "fun" money, after you sit down TOGETHER and pay the joint bills.  I got MAJORLY screwed by my ex-husband for years because he made me use all my money to pay all the bills. (I was So dumb!)  PLEASE everyone be honest with your new spouses about your money! It may be a headache at times, but it's better in the long run. My FI & I with both know what's going into and out of our joint accounts.

rebeccaa12

We've done it for years I'm actually our accountant hehe

lisa&sean

We have been together for 11 years and have had a joint account for a loooonnnnggg time now!

a+b=u&me

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-club-boards_march-2012-weddings_fi?plckFindPostKey=Cat:Wedding%20Club%20BoardsForum:955e4823-0be1-44ef-9ee7-99a63794e103Discussion:8cd82e2e-ab2d-43b1-b7c7-605d5c5082b9Post:c5cb78b2-8ce9-4969-9ed0-abd74d7c7ddc">Re: Are you and your FI...</a>:
[QUOTE]We have been together for 11 years and have had a joint account for a loooonnnnggg time now!
Posted by lisa&sean[/QUOTE]


11 years??? You look SO young in your pic! Congratulations!!

a+b=u&me

We aren't joining accounts. I have my checking and he has his. I pay utilities and food, he pays the mortgage.... it works for us.

JCWhitey

We pretty much already do.

rachel801231

I love my bank and it's a local bank (not a chain/branch)  I've been with them for over 15 years so I'm keeping my checking there but FI will have full access to it.  I'm not sure if he is going to keep his checking at his bank or come to my bank and have joint account but either way we both will have access to each others and will pay things together.  We really do need to sit down and talk about it a little more but I think it's going to be about finding what works best for us through trial/error.

bstengler

we already have accounts together so it makes it a little easier but i also work at the bank that we have our accounts at im sure we will sit down and really figure that out when it comes down to it

arrestclementine

We've been together and lived together for over 6 years ... but for some reason this just terrifies me!  I would prefer to keep my money mine and his his, but he wants to join accounts.  I'm complefely fine with that but I don't want to feel bad when I want to buy myself something and i don't want him to feel bad about buying something for himself - and not every purchase should have to be Ok'ed by the other. 

Anyways I know we are going to combine all of our money but not until a couple of months after the wedding - we've just go so much going on and it will take some time to figure it out.  I just hope i don't end up like my mom: afraid to by anything for herself because she always thought my dad would be mad or say something (which he never did she just had it in her head) SO she litterally never went shopping for herself - it was actually very sad. 

mrsmustard12

We will as soon as I find a job.  Already my name is on his checking account so that will probably become out joint checking account and I will close my current one.  We each have a savings account so we might combine those as well.  We are very candid about money and spending so it won't be a big deal.

jbrook12

We are not going to. We will open at least a savings together for building for the future though. Every bill here at the house is in his name, all utilities and even the house so he pays for all of the bills and I take care of all the groceries. I will be added to everything but the mortgage when we are married and will then help out with some of the bills. Plus I have student loans that are all mine and I don't want him to feel like he is helping pay for that when its not on him.

adrienne0925

We combined checking accounts once we got engaged.  It was easier to keep track of paying bills since we live together. He is so old school that he didn't have a debit card or anything before he met me!  He was handing me cash every month for bills and it was just a hassle to be going to the bank all the time to make deposits.  I like to use online banking!!

He has his own checking account, but barely uses it. We both have our paychecks deposited into the joint account and pay bills and have our fun money from there. 

Aks3131

We got a joint checking account and savings account when we got engaged. It's easier to keep track of all the wedding expenses & gifts we receive that way. We still have our own separate accounts and after the wedding we'll close those out and just use our joint accounts. We do have separate credit cards though and will probably keep it that way. Maybe we'll have one joint credit card to use for groceries and travel.

lisa&sean

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-club-boards_march-2012-weddings_fi?plckFindPostKey=Cat:Wedding%20Club%20BoardsForum:955e4823-0be1-44ef-9ee7-99a63794e103Discussion:8cd82e2e-ab2d-43b1-b7c7-605d5c5082b9Post:9746fd46-098d-4a86-94d6-0abf13da2461">Re: Are you and your FI...</a>:
[QUOTE]In Response to Re: Are you and your FI... : 11 years??? You look SO young in your pic! Congratulations!!
Posted by a+b=u&me[/QUOTE]


Yes! lol

We are 27 and 28...started dating when we were 16 and 17 :) it's been a long time!

femmepink

they already are!