We met at 19 and got married at 23 when we had no money so we got a joint account right when we got married, lol 😂 we have very similar spending habits and thoughts about money for the most part. Little things we want or need, we generally don’t consult each other but we talk through big purchases and make sure we are on the same page.
We maintained separate accounts after marriage and each paid for certain things, like he took care of the mortgage, utilities, home repairs, things like that and I did groceries, phone bill, pet care, miscellaneous things as they came up. That's when I was working full time. I'm fully a SAHM now though, so while I technically still have my own accounts, they rarely have anything in them and my husband have me a card that draws from his credit card for groceries, gas, pets, etc and all bills directly pull from his account now. While I don't love not having my own money to spend just because he feels weird, he doesn't usually say anything if I buy something non-essential with the credit card, so in general, this arrangement works for us.
When we say joint account does it mean going to the bank and opening 1 account in both names or 1 person open the account but both are putting money in?
We have separate accounts and then have a set amount that goes into the joint account for household bills and shopping. Whatever is left in our own accounts is for personal bills and spending.
I pay slightly more into our joint account as my husband has about £5k a year coming out for his commute and he runs the car.
Once I go on maternity, he'll take up some more of the joint bills as my pay won't cover my share. But we always have the understanding that if I need more then he'll give me some money as he does earn slightly more than me (I'm happy with having my account at £6 at the end of the month whereas he likes to have about £100 "just in case"... whatever is left goes into savings though)
We joined our accounts when we joined our goals (when we decided to buy a house together - which was 2 years before we got married). We've been together 13 years now and have two boys together. There is no "his and hers" anymore, our lives and finances are intertwined.
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