Originally posted by IowaHunter
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This, it's worked for us for 44 years. -
My wife and I have known each other since first grade. When the Lord brought us together, we became one flesh. We have never had anything but joint accounts. She manages the accounts, and it has worked very well for us for almost 40 years now. All our income goes into one account and the Lord gets the first share, then we use the rest to manage our lives and serve the Lord further as we go.
Great thread by the way! I just read thru the whole thing.Comment
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Have had joint accounts from day one. Wouldn't have it any other way. We discuss everything money related anyway.Comment
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We have always had a joint account. The wife doesn't work now but even when she did we had a joint account, I have never understood why folks had a separate account. A lot of my buddies have separate accounts and even spit the bills in the house. If you can't trust your spouse with your money then you shouldn't have gotten married.
Just my 2 cents, and how we do it.Comment
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Been married 5 years and together for 9.
Since we've been married the majority of the money goes into a joint account we share for bills, food, etc.... We both have separate accounts for "play" money, and we find it works best for us. She doesn't see what I spend on hunting, fishing, etc... and I don't see what she spends on clothes, shoes, and purses. It's what works best for usComment
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What does the green screen say?
I just don't understand separate accounts. Either you are one or you aren't. Otherwise there are underlying trust issues IMO.
To me if nothing else it seems like a pain to do all of the moving money back and forth. Throw it in one big pot and handle your household items out of one.
My wife and I have been married for 26 years and have been joint accounts from day one.
We make about equal salaries these days. It wasn't always like that as I made most of the money. Even then I never even considered having separate accounts and giving her an allowance.
You give your kids allowance, not your life partner.Comment
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As long as we're living under the same roof, we'll have a joint account.
I also have a separate account for my business, that she has access to.
She did a part time gold buying gig, for a while and she had a separate account for that.
The two business accounts were mainly so she could keep all our tax stuff sorted out.
Don't ask me ... she's the accountant and has managed all our bills since very early in our marriage.
Several people have mentioned arguing with your spouse about money, and we had our share. In the beginning, when money was very tight, it would cause problems when one of us would buy something that would put us over budget for the month. At that time, we didn't have much of a savings and the argument usually stemmed because we'd panic because we didn't know where we'd get the money to cover that overage.
Things are different now. Tina hasn't worked since April of 2013, but she still takes care of all the bills. My check goes in and she takes care of everything. I usually have some overtime. Half of that automatically goes into savings on top of our normal monthly amount. The other half goes into my slush fund. I'm the spender, in our family, so if Tina wants to buy something, it's rare, but she'll still tells me that she's buying it. There has to be a high level of trust for this to work. It might burn me some day, but until then, we'll keep living like this.Comment
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Newlywed with same concerns not really sure yet how to approach itComment
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Keep Em separate or you will be asking permission like everyone else.Comment
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What does the green screen say?
Thank y'all for the answers and explanations
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man that is awesome. I couldnt agree more. This is the way i was raised and my mom amd dad have been married 36 years and its the way my wife and i do it too. We no longer operate on the "yours and mine " way of thinking. Im thankful for a blessed marriage.Originally posted by SaltwaterSlick View PostComment
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Have a joint. Then I have a little one for my own personal stuff, like my hobbies.Comment
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My wife and I both have our own accounts. About two years ago we opened a joint account at a local bank because both of our accounts are Bank of America and we didn't have a bank here. Separate accounts has always worked well for us. When we lived in Charlotte she would pay all the bills except my truck note, insurance and four wheeler note and I would write her a check at the end of the month for my 50% of all the bills. Now that we are in Louisiana she pays all the bills. I have less responsibility than when I lived with my parents
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Not all spouses are created equally. In so far as spending is concerned. Some spend like a drunken sailor. Never worrying about the final tally. If your spouse is "Hi-Maintenance"
then you already know the problems that brings. Good case for separate accounts.
Joint accounts are for couples who respect the bottom line. I think older folks run a better bottom line.
Back in the day only one worked. The other really ran the ship. We all know who that was ....the women of the house.
She was the Captain of all things. Money included. I`ll admit things were a hell of a lot less complicated back them. But the fact remains, the women of the house made sure all was accounted for. There are exceptions of course .
My spouse has been running the house/books, what ever for almost 60 years. I`ve got money in my pocket. Money in the bank. House....paid for. Great credit. All due to her.
I don`t mind telling you, I run all big ticket items by her and to this day,all she has ever said is, go for it. Nothing like a friendly banker...Comment
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