May 2013 Weddings

QOTD 6/11

Almost halfway through June :-)

Do you and FI plan to have joint bank accounts when you're married, or have you already combined money?
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Re: QOTD 6/11

  • FI and I have more individual expenses than joint even though we've lived together for almost 3 years. Haven't figured it out yet once we're married, although we figure we'll have joint car and health insurance.
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  • SRRL18SRRL18 member
    Ninth Anniversary 500 Comments
    We have seperate accounts/bills. We've been living together for almost 6 yrs now and have finally setteled on the best way for us to handle finances. We've diveded the buget/bills according to who makes what percentage of the total montly income by total monthly outgoing. I like the way it works and we each have spending money at the end of the month.

    We have a joint credit card and I hate it but he pays what he spends and I pay what I spend.
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  • Everything is separate right now.  We've discussed getting joint accounts after we're married, and keeping my current accounts just for my business purposes.

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  • We're going to combine our bank accounts.  Mostly because we've never lived together, and this seems like the easiest way for us to combine our money.  Also my parents say it's a good idea.  It was for them at least.  Every couple handles money differently.
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  • edited June 2012
    In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-club-boards_may-2013-weddings_qotd-611?plckFindPostKey=Cat:Wedding%20Club%20BoardsForum:ea657a87-d1dc-4588-999f-31c9deeef720Discussion:ad4df2d4-c135-4fd1-95f2-c8b865ab855bPost:63e5cc4a-4a84-4072-81ea-5a0fd844376d">QOTD 6/11</a>:
    [QUOTE]Almost halfway through June :-) Do you and FI plan to have joint bank accounts when you're married, or have you already combined money?
    Posted by SSaltzman87[/QUOTE]

    We just made a joint bank account due to purchasing a new vehicle. It makes sense to just have it together already, now WE pay for groceries, WE pay for gas, dinner, etc. It's sooo much easier then "his turn, my turn". We should've done it a longgg time ago!
  • We are going to have to nail of this out soon, but we've discussed having a combined checking (for combined bills) and savings (for house, trips, etc). We want to keep some of our money separate, so it'll probably be a set amount we keep from our paychecks for our everyday expenses. I'm definitely the saver in the relationship and my FI knows he needs some money structure, so combining to at least cover our bills and putting some money away together should provide that, while still having some money of our own will keep it from being too overwhelming. Right now we make the same amount, so I'm sure some restructuring will be needed when that changes. 
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  • In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-club-boards_may-2013-weddings_qotd-611?plckFindPostKey=Cat:Wedding%20Club%20BoardsForum:ea657a87-d1dc-4588-999f-31c9deeef720Discussion:ad4df2d4-c135-4fd1-95f2-c8b865ab855bPost:71cc729d-1c35-4741-963f-a623e7fce7ad">Re: QOTD 6/11</a>:
    [QUOTE]We are going to have to nail of this out soon, but we've discussed having a combined checking (for combined bills) and savings (for house, trips, etc). We want to keep some of our money separate, so it'll probably be a set amount we keep from our paychecks for our everyday expenses. I'm definitely the saver in the relationship and my FI knows he needs some money structure, so combining to at least cover our bills and putting some money away together should provide that, while still having some money of our own will keep it from being too overwhelming. Right now we make the same amount, so I'm sure some restructuring will be needed when that changes. 
    Posted by rswans[/QUOTE]

    <div>That's similar for us.  Except depending on whether my FI goes to PA school or gets a job for a few years first, the situation will be drastically different.  If he works, he'll make more than me.  If he goes to PA school, I'll be the sole provider until he graduates.  So a joint account would be necessary in that instance.</div>
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  • We may open a joint account when we buy a house, but we will still keep our separate accounts. It doesnt make sense to change more thing than necessary.
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  • We discussed this yrs ago we have one joint savings but separate checking and savings. We currently have separate bills so it's easier not combine everything we've agreed once were leaving together well figure out best approach with bills.
  • We've discussed this but right now all of our bills are separate so our accounts are still separate.

    Not sure what we will do in the future, maybe have 1 joint and then each have individual accounts as well.
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  • We discussed this before since we have lived together for almost 3 years. We both agree that there really isn't a point to get a joint again when we already share so many bills and it works how we have it now. Maybe when we decide to buy a house we will get a joint account but until then probably wont happen.
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  • We have a joint account; it makes it really easy to budget for everything includig the wedding.
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  • We have a joint account and I have a personal account also. I do autopay for just about everything so it's a big hassle to cancel my personal account & switch it over to our joint account. I'm going to do this at some point, I just don't know when. 



  • Everything will remain seperate. I am very gaurded when it comes to money. I will keep my own accounts and he will keep his and there will not be any jointing of anything. All utitlies in our place are in my name. My car is mine, his is his. Our rent we split and pay seperately. He still has school loans and I have my kids to take care of. If we ever buy a house I will NOT put my name on it. I will not make any large purchases in both of our names either.

    We both work and earn our own money I have no right ot his and he has no right to mine. Just how I see it.
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  • lalanslalans member
    100 Comments First Anniversary
    When we moved into together we made a joint account to pay out joint expenses (rent, other monthly bills, ect)  we also made a joint credit card that gets used mostly for food, both grocery shopping and meals out together.  If we both go see a movie we usually put that on the joint account.  We had figured out how much each month to point into the joint account.  He pays more cause he earns more.  We have to rethink it a bit though once we are married.  Right now I have to be REALLY careful with my spending.  The difference in what he pays isn't really fair/reflective of how much more he earns.  Soon after we moved intogether I turned down a much higher paying job 6 hours away to stay where we are right now for his job...The other job would have put me more at his salary level, so that is kindof double unfair :) 

    I'm thinking maybe that after we get married we should put most income into a joint account, and separately keep a certain amount or % as personal spending for each of us.  I like having freedom/having my own money, and i don't want to think about stuff that he buys/have him justify to me what he is spending on.
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  • We currently have one joint account where we pull our joint bills from (rent, utliities, etc.) Then we also have seperate checking accounts. In other words, when we get our direct deposits from work it goes to our seperate accounts and we transfer as appropriate. The good thing is that they are all in the same bank and it makes it really easy if we need to transfer money to each other. It works well for us and we haven't had any issues like this. We just need to get better at budgeting and saving money.

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  • We have 2 joint accounts, for checking and savings. We decided to do this because we live together and already pay our bills together, share costs for personal purchases, etc. It just made sense.
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  • We have a joint checking account to pay bills, and a joint savings to save for our future but we also have seperate checking and savings accounts as well as seperate credit cards. For me I will never ever put all of our money together. This way has been working for 2 years not one single problem so it will continue through our marriage
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