POLL: Bank Accounts with FI

moonstone523 · September 2009

How are you and FI going to do your joint (or not) finances?

LovinHim1010 · September 2009

We got a joint account like 6 months after we got engaged. We both have separate off of it. The joint we have been saving and paying bills and paying for 'us' things with. Our personal we use for stuff that each of us want. We have a certain amount that is deposited into the separate accounts that we work with for the month to do our own things or buy gifts for the other. I'm mean and have 'control' over the joint account. He doesn't have a debit card for it, because he goes crazy with it and then doesn't give me the receipts, lol. It has worked out good for us.

Loskadoodle · September 2009

We are doing percentage of pay.... like 75% of each of our paychecks will go into the joint bank accounts for any joint expenses (mortgage, bills, food, out to eat, savings, etc.) Then the rest we keep for ourselves for whatever we want to spend it on.

NicoleEOle13 · September 2009

We love it! Though it took many conversations to decide how to handle it exactly.FI is a finance guy, and I am also very tight with money; however, we both are complete opposites when it comes to how we pay off debt. I'm the kind of person who wants to pay off any and all debt ASAP, while FI likes to wait until the last second possible to pay off debt. Anywho, it took us a while to get used to, but what we did was open a joint checking account, savings account, and also 1 credit card.All of our paycheck goes straight to the joint checking for things such as bills. We'll take a little out every paycheck to go into savings for trips, and in case of emergencies. For the most part we'll actually use the credit card to pay for big purchases (just bought our first home) because we get points and have the money to pay it off at the last minute.

mnmccloud · September 2009

We have separate accts with the same banks and use MINT to manage our finances jointly. If you haven't checked MINT out- we highly recommend it! We began using it right after we got engaged. Its a nice medium between having joint accts and separate accts. The way we have things allows each of us to have 'our' respective accts, but gives complete visibility to the other. When we're paying for something for us (rent, bills, etc), we use our online banking to move our $ back and forth as we'd like. ;0)

jen812 · September 2009

Currently, we have 1 joint savings account that we both put money in for the wedding which is linked to both of our seperate checking accounts. We each pay our own individual bills (car payment, insurance, etc). We have been talking of combining our other accounts but just haven't gotten around to it yet. This way works for us for the time being, so I guess that's why we haven't rushed to change anything yet.

Golfer'sLady · September 2009

We had separate finances until we were married. Now it's all one pot. One checking account, two credit cards we use for expenses and pay off each month from the checking and one emergency fund account in a high yield savings. His 401k and my Roth IRA are obviously separate accounts.

moonstone523 · September 2009

We plan on doing one joint checking account and one joint savings, with our 401ks and Roth IRAs separate. We will also share one credit card. I will keep a separate checking account for my work expenses and a separate credit card as well. I'm also toying with the idea of us each having our own checking account for those pointless splurges. This would be more for my benefit though since FI never buys anything not practical.

*Mrs.CPH* · September 2009

Right now FI and I have access to each others accounts but it's separate. I pay all my bills (ie my car, credit, phone) he pays all his, and I give him a set amount toward household expenses each month.We are trying to decide how to do things.I think we will go with a yours mine ours checking account. Then one joint savings.

signingjulie · September 2009

right after we got engaged, FI and I opened a joint checking account for wedding expenses which is linked to both of our accounts, bc we both already had the same bank. savings accounts, investments, retirement, credit cards and everything else is separate as of now. I write FI a check for the monthly bills we share (rent, utilities, groceries, etc)

rdoernberg · September 2009

We have a joint account and keep our own separate. FI makes wayyyy more money than I do, so he puts 50% of his paycheck in the joint account and I only put about a third, otherwise I wouldn't be able to pay off my student loans. We also have a joint savings account in addition to our own that we are putting away money for a house (just transfer a certain amount from the joint checking each month). We're keeping our own individual accounts after we get married so we each can pay off our own loans and buy ourselves whatever we want with it!

diamondgrrl5 · September 2009

We have a joint checking/savings account that we use for mutual purchases (monthly house bills, food, eating out, wedding expenses, etc.). We each also have a separate checking/savings account where our individual purchases come out of which are mostly personal bills we had automatically coming out of these accounts already and stuff we want to buy for ourselves or each other. Currently we have our paychecks going into each account 50/50 but as we pay off our individual debts then we will put more into the joint account. No matter what you do as a couple, the key is communication that is open and often!

jan_it_2004 · September 2009

As soon as FI and I moved in together two years ago we got a joint checking/savings account and also kept our individual accounts as well. FI has $100 sent to his indiv. account every week sort of a second savings and I have 30 to 50 sent to my indiv. account every two weeks. The rest of the money we make goes into our joint and we pay everything with that. I pay all of the bills. His bills and my bills and it has worked great. we never fight over who makes more money(FI does) or who pays what bill. Makes life a little more simple

Joel-N-Ally · September 2009

I don't even work, so FI is the only one making money. And (as he likes to put it) I'm the only one spending it. He just added my name to his account, so I could get the debit card & checks.

Kristin789 · September 2009

Totally separate. He has his checking account, out of which he pays the mortgage, the landline phone and internet service, and the electric bill. Also all his car maintenance/payments/insurance, etc. I have my checking account, out of which I pay the maintenance fee ($400/month, we're in a condo), all the cell phones on one bill, and homeowners insurance. Also all my car costs. I paid the $30k downpayment on the condo, and last summer I put $12K toward the mortgage. The plan is that we each will end up paying 50% of the actual purchase price of the condo. We have absolutely no problem with this separate financing, and we're continually surprised at the number of people who tell us that if we don't maintain a joint checking account, we are doomed to divorce.

aallenba · September 2009

We have a joint savings account as our "emergency fund" and we also have another joint savings for our wedding funds. Other than that we have our own seperate savings and checking accounts, seperate credit card accounts and obviously our 401K's are seperate. We each have a set of bills that we pay which are pretty much split even in what we pay each month for expenses. I refuse to ever get a joint credit card with FI only because I know of too many people who (heaven forbit) go through a divorce and the other person racks up a LOT of credit card debt and then refuses to pay it which affects BOTH fico scores. If anyone is into finances they should watch Suze Orman on Saturday night...she is my hero lol

moonstone523 · September 2009

aallenba,FI and I watch Suze Orman often. Just then other day he said to me, "would Suze approve me for this purchase?"ha. Love it.

aallenba · September 2009

FI hates that I watch her because I am always like "save save save! stop spending on things we don't need!" and always talking about our emergency fund. lol

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