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What are you and FI/DH doing about your finances?


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#11 ~*petals*~

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    Posted 20 May 2009 - 10:44 AM

    Our setup is a lot like yours, Grace.

    We have joint checking and savings accounts-- we created a monthly budget, and we each contribute a set amount into these accounts every month, and use them to pay all the household bills, our weekly dates, etc. and to save for the wedding, our future home, vacations, etc.

    And we each also still have our own accounts, to use as we wish. Every couple is different, but I've found it's a LOT less stressful for us to do it this way.

    #12 JOSIE

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      Posted 20 May 2009 - 10:44 AM

      BBTB- Great thread. The FI and I went back and forth on this forever because I am so bad at transferring money back and forth and I have EVERYTHING coming out via "direct deposit" from my personal checking. i was so worried about setting up a joint, and trying to switch everything to direct deposit from a different account number.

      Here's how we solved our issue. Conveniently, we just so happened to check at the same bank before we met. So we set up a joint account at that bank and we can each log in online and see our personal checking and the joint, but we cannot see the other persons personal. You can transfer money instantly with 1 click. So thus far I've been transfering extra money over after my bills are paid, and we use the joint for our mortgage and "joint expenses". We use our personal accounts for dinners out with friends, or the money we spend on our lunch-breaks, etc. Hope this helps
      11.28.2009

      #13 ~*Kathy*~

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        Posted 20 May 2009 - 10:56 AM

        DH and I have a joint account which pays for bills only (as in mortgage, power, water, gas, etc). Each month, $1,000 is automatically transferred from each of our personal accounts and put in to our joint account. We each also have our own seperate chequing and savings accounts where the rest of our pay goes.

        For the wedding specifically, we used our Line of Credit against our house to pay for it (not ideal, I know) and we are paying that debt of slowly. The interest rates are so low right now that we pay about $25/month in interest on $14,000 of debt, which I think is not too shabby.

        #14 Chanti

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          Posted 20 May 2009 - 10:59 AM

          We've already combined our finances into one main account. We still have our individual accounts opened but since our pay cheques get deposited into our common account and we budget from there, not much flows into our solo accounts anymore! The only reason I am keeping mine open is because of the linked line of credit, with prime only interest :-) Has come in handy with the wedding expenses!

          #15 mmontgo

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            Posted 20 May 2009 - 11:02 AM

            My fiance and I combined everthing very early in our relationship. We've never had a problem with it so far and we've been together 7 years. I know many couples who have a joint account and then each has his/her own checking.

            #16 Jess

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              Posted 20 May 2009 - 11:23 AM

              We have separate accounts now but are starting to join them...when we are married we will have only joint accounts

              #17 Christi

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                Posted 20 May 2009 - 11:26 AM

                We have separate accounts for personal spending and a joint account for all household items...

                #18 ACDCDCAC

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                Posted 20 May 2009 - 11:32 AM

                Quote:
                Originally Posted by JOSIE
                BBTB- Great thread. The FI and I went back and forth on this forever because I am so bad at transferring money back and forth and I have EVERYTHING coming out via "direct deposit" from my personal checking. i was so worried about setting up a joint, and trying to switch everything to direct deposit from a different account number.

                Here's how we solved our issue. Conveniently, we just so happened to check at the same bank before we met. So we set up a joint account at that bank and we can each log in online and see our personal checking and the joint, but we cannot see the other persons personal. You can transfer money instantly with 1 click. So thus far I've been transfering extra money over after my bills are paid, and we use the joint for our mortgage and "joint expenses". We use our personal accounts for dinners out with friends, or the money we spend on our lunch-breaks, etc. Hope this helps
                this is us, word for word. so far it works, we've been doing it this way for a couple years. i think if we had just ONE account, we would feel funny when buying eachother something, situations like that, etc. or like, YES its all OUR money, but why should he have to "buy" one of my coworkers a baby gift? or why should i have to "buy" his beer when he goes to band practice? kwim? its all psychological tho hahaha

                #19 BillysBride

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                  Posted 20 May 2009 - 11:42 AM

                  Again, I'm older...lol. And without sounding condescending, I've learned that my mother knows best in just about every matter that's every come up in my life. I love him, we are in support of each other in every way, and raising a family together. I plan to be with this man for the rest of my days.....and I plan to keep some money seperate from his and "ours" for just as long. lol
                  Savannah

                  http://i17.photobuck....inecollage.jpgThe Fab Four (my quads) Meryn, Kellen, Nico & Layla
                  http://global.thekno...rs/tt265ad.aspxhttp://www.mywedding...nnah/index.html20 STD's w. pre-lim RSVP sent 6/15/09: 7 "Yes" so far/10 guests total!

                  #20 BillysBride

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                    Posted 20 May 2009 - 11:42 AM

                    Again, I'm older...lol. And without sounding condescending, I've learned that my mother knows best in just about every matter that's ever come up in my life. I love him, we are in support of each other in every way, and raising a family together. I plan to be with this man for the rest of my days.....and I plan to keep some money seperate from his and "ours" for just as long. lol
                    Savannah

                    http://i17.photobuck....inecollage.jpgThe Fab Four (my quads) Meryn, Kellen, Nico & Layla
                    http://global.thekno...rs/tt265ad.aspxhttp://www.mywedding...nnah/index.html20 STD's w. pre-lim RSVP sent 6/15/09: 7 "Yes" so far/10 guests total!




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