Combining finances- thoughts, advice, suggestions please!

Re: Combining finances- thoughts, advice, suggestions please!

• annieappy

  

  October 2012 edited October 2012

  Like Brittany said above, mint.com is a great site that allows you to import all of your bank accounts, loans, investments, etc. and set a really specific budget. It automatically updates information on your accounts and transactions, and it categorizes your transactions and accounts for them in the budget tracker. I've been using it for a couple of years and it really helps!

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• vbjoanna member

  

  October 2012

  OP, I think you've got the plan that will work for you guys -- your shared bank account, and a set amount of money you each get per week. I'd give it out in cash, since your H isn't good at keeping track of his expenditures, specify the period that it's supposed to cover, and when it's gone it's gone. If he "forgets" to use the cash, you may need to go to plan B -- take the debit card away....

  
  

  FWIW, my H and I use the approach a PP mentioned of his, mine, and ours. On payday each month (we're both salaried), we each have an automatic transfer in proportion to our income moved from our individual checking accounts (which each get our direct deposit check) to our shared checking account, and all our shared bills are paid from that shared account. I manage the bill paying, and since it's all eelctronic check it each month to make sure I don't need to adjust any pay dates or anything. I transfer money over to a shared savings account when we have extra so that it can earn a slightly higher interest rate. Our shared accounts are with ING Direct, but our individual checking accounts are with brick-and-mortar banks (BoA and Wells Fargo). We each have individual savings accounts with ING as well, so it's an easy way for us to transfer money back and forth.

  
  

  
  

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