We have separate accounts
My hubby and I have joint accounts. We don’t do the whole my money is separate from his money. It’s our money. We both work hard regardless of who gets paid more and All our bills are together. Every month we set aside the money for our bills, and set a limit on eating out, shopping, etc. If he wants to buy a new pair of shoes or something for example, we’ll set it aside in the budget for that month. Our main priority is to take care of home and baby, which is a responsibility we take together so it makes sense to have a joint account.
However everyone does things differently and they have their reasonings for it.
We have our separate accounts cause I had money saved up before meeting him . He has his own account he likes to drain and we have a joined account which isn't all that . I have a savings as well but dont touch that at all because I want that to be my sons money I'll be opening him up a bank account as well shortly .
My bills come out my account n I pay what I need he pays what he needs and we do a 80/20 thing on rent . I have baby bonus so I get all baby needs . Joint account if so he can put the rent $ in there so I can pay it . He does a big grocery shop at Costco and I do a little one at another grocery store . It works but there are times i get upset with the bf cause he just dont understand the meaning of the word save he is terrible with money me on the other hand stingy with mine .
1. We are married so take that into consideration. 2 All paychecks go into joint account. 3. Allowances go into personal. Those go up or down depending on budget.
We have seperate bank accounts since we each have income (my idea, I like to shop when I want and don't want to have to explain), but during leave when I didn't have income, he ordered another card for me to use from his credit card account, so I used that for groceries and such during that time.
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