How do you arrange your money? Couples

[Laurabelle84]

Everything is joint with us. We have 2 bank accounts - both our wages get paid into one and we transfer money from that into a reward account that the bills get paid from (get a % back on household bills) - after the money is transferred to the bill account what's left in the other account is for everything else i.e shopping, savings etc

We also have a joint savings account & I have my own savings account that I put money into when something is coming up like birthdays, girls weekends etc.

It works well for us but I know it might not for others x

[Twin mummy]

Money is ‘our money’ here and we have joint accounts. My husband is paid 4 weekly so we have a holding account that wages are paid into and then it is transferred to a bills account, a shopping account and savings. I tend to use shopping as my personal account and My husband has a pin money account- think that’s from when I was at home full time and got cross that he was taking money out of shopping without me budgeting for it.
We talk about large purchases but neither of us check the other’s spending.

[firsttimemouse]

We have everything into joint accounts but we also both have a single account and put the same amount into this each month. That gives us some of our own money which is nice to spend without consulting with anyone. Works well for us.

[ClaireNJ]

Originally Posted by Floridatilly

Everything is joint in our house. No his or her money, we don’t have spending money either.
We have a bill account, current account and savings account. I do all the shopping so that comes out of the current account. If any of us need shoes, clothes etc we just get them but to be honest we are both tight as cramp so that’s not very often. Our money goes on the kids & holidays.

I think it’s a personal thing though because the way we do things does not suit everyone.
My husband is incredibly trusting because he has no clue how much money we have or how much our bills are! I manage all our finances however he is the bread winner.

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This is me too, we have joint bank account he earns way more than me as I’m part time, he would only be able to name a few Direct debits, he is trusting, I make sure we save a set amount for holidays each month, car bills etc he had a good pay rise last year which was unexpected, as we didn’t need it for savings I take it out & just give him the cash & he can spend it as he wants 🙊usually on Grandkids trainers & entering races 🙄at the moment though that’s all gone as he’s on furlough

[ClaireNJ]

Originally Posted by Loopylooloo

Joint everything here too, although my kids love to point out I dont pay for this house etc, dad does...!
(He is bread winner, but I do work!) my husband doesnt do any financial management, he leaves it to me, and I pride myself on squirreling money away for our holidays etc.

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Me too my Hubbie was most surprised when I told him how much I save each month for holidays, did he really not know how much they costhe says I’m only good at saving if I have a holiday planned
Not true 🙊

[katy341]

Having been divorced from someone who wasnt good with money (didnt know at the time!) In my relationship after that (now been 6yr) we have a joint acct for Bill's that we transfer money into and a separate acct that our wages get paid into. I like keeping things separate as I know my own finances. As long as we both pay the Bill's (and as long as onevif us doesnt struggle) then it doesnt matter who has what in their own accounts?! Obviously we are open enough that we would always say if either were struggling x

[ClaireNJ]

Originally Posted by Talland 2016

Stepping away from the main thread for a moment
A joint account is great for bills mortgages etc and dealing with banks etc.
Sadly my friends partner has suddenly died ( probably heart attack but awaiting post mortem), they have an 12 year old daughter
He died without a will and she is in the situation of his sister being legal next of kin , so legally his estate will go to her. SIL has been told she is responsible in having to deal with bank managers and all of the legal bits, including coroner. He would pay all of the bills and she would transfer funds into his account by DD each month to help pay them.
House and mortgage is in joint names so she may have to buy sister in law out or have her as joint owner
She is waiting to find out if her partner as named her as beneficiary for work pension and death in service benefits .
Luckily she has a good relationship with his sister who is being supportive but it’s a real mess. She has also being supported by his work line manager and union.
I guess the reality is, whatever bank set up works for you, please make sure you can access it if the unexpected happens
And the main point
Make a Will

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Sorry to hear this sad situation, yes make a will definitely even more important if unmarried 😢

[hilz22]

We have just one account. All money is paid into this, we spend and save as we like. Until the pot runs dry 😆

[TractorBoy]

We are both now retired so with regards to money it is irrelevant.

We are and always have been a team so neither of us gets more than the other.

Works for us!

[skalexander]

My husband and I have always had our own accounts, a joint account for the bills and we take turns buying shopping.

I have been the higher earner for nearly 4 years. First the disparity was small, whereas now it’s pretty big.

We talked about it and he was adamant he wanted us to continue going 50/50 on the bills, but said it might be I would end up paying more for things like home improvements, holidays etc., so that is what we have done.

That said, we are hoping to sell our house and buy another one later this year, and I envisage we will move away from 50/50 as the mortgage will be quite a bit bigger. He likes to be equal and pay his way, even though we’ve been together 13 years but, as I often say to him, I work for both of us and I could not do what I do without him supporting me.