My husband and I have separate 'play' funds. We have joint accounts for savings and household bills.
Do you have all joint accounts with your SO or keep that money separate?
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It's all in one pot! Ok, a few pots, but we doing have any separate accounts.
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We have a joint account for all the bills and vacations and us-stuff, and then we both have our own accounts to do with as we please. It definitely helps with money arguments, because if I want to buy something expensive just for me, I can, and he can do the same.
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We each have our personal checkings, we have all our savings accounts jointly and share a joint checkings too.
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Everything is communal, but in our monthly budget, we do allocate $150 per person for "fun money". And this does roll over month-to-month, so it's not a "use it or lose it" budget. I think I'm up to $450 in fun money right now, which I'm saving up for after the baby when I'm going to need some new clothes and some pampering.
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We have one account, but he also has an account with his father (he's the executor/power of attorney) that I don't have access to. I don't have any seperate funds.
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For now we keep things separate, although both our names are on the mortgage, it's deducted from his account (that I have access to). I also have my own US account open for my student loan and where my paycheck is directed to (I only work part-time).
I honestly don't know how to ever combine our checking accounts since everything is linked to your taxes here. It's like every SSN needs at least 1 account since couples are taxed separately regardless of your marital status (and there's isn't a tax break for families either).
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We have a joint checking and I have a personal accoutrements that my tips go into for fun.
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We keep separate checking accounts, and have a shared checking for house-bills (mortgage, bills, etc.) and a joint savings account.
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We are all in together, it's jsut easier for us this way.
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We have joint everything.
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Everything is joint. I don't work, I'm a SAHM, so it's not like I can contribute to my own separate account. It makes more sense for us to share. Plus, we have the same spending habbits so we don't ever argue about it.
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All our accounts are joint but in our monthly budget we each get $50 for ourselves. The money accumulates if unused.
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Joint everything. It's always been that way. We've actually been trying a new system where we take out $100 cash each Friday and try to make that last for spending money each week. This is supposed to cover everything but grocery shopping, gas, and date nights/special occasions. It has actually been going REALLY well and motivates us to pack lunch more often!
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All of our accounts are joint.
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@mrs. wagon: I like this idea. I think I am going to propose this to my DH
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@Pipers Mommy: it really helps!!! and it's a quick way to learn that yes, a peanut butter sandwich really is enough for lunch if you don't have any $ to spend!!
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Our system is similar to @goldilocks1107. We have everything joint, but I use our budgeting software to allocate everything into "funds". We each get play money every month that we can use/not use as we please, and it rolls over so we can save for bigger things if we want.
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Our is all in one pot. However, I do have a separate checking account pre-us that I never got around to closing or moving the funds over. It's at a credit union in my hometown, which is 3.5 hours away. No money goes in or out of it though. Other than the interest accrued.
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Everything's joint. We don't really allocate fun money. It just depends on what's happening. Right now there's not a lot of fun money happening! haha
We've done it our way for 8 years and it works out well for us because neither of us are picky about money.@mrs. wagon:
haha we tried something similar for a while. Where the cash was everything spent that week besides gas. Did not work out for us! Just because our grocery spending is flex each week. One week we might make a big BJs run for the month that will blow that dollar amount out the window. It got to hard to try and roll over to next week etc. -
We have a joint checking for our bills and a joint savings, and separate "play" funds.
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