There was a recent forum post on how married couples handle finances. This has been a well-discussed topic for DF and I lately. I'd always imagined that after we get married, we'd transition to a single account. He's pretty set on a having a joint account, but still keeping our individual accounts. I think we've finally decided on a compromise that will suit our needs. I wanted the single account for ease of financial management for our household. He wants to keep his account to have his 'fun' money that he can spend without feeling guilty or having to run it by me. So, we're going to combine our wants. After we get married, I will merge all of my stuff into our joint account and handle all of my finances out of that. DF will switch his direct deposit to go straight into our joint account, and then we will transfer an agreed-upon amount of 'fun' money to his bank account for him to do whatever he wants with. Currently, his paycheck goes to his account, and he transfers money into ours. I'm glad we were able to figure out something that will accommodate both of our wants.
Joint Finances
September 22nd, 2015 at 05:25 pm
September 23rd, 2015 at 02:29 am 1442971778
September 23rd, 2015 at 04:24 am 1442978666
As our goals changed, we increased the house account and decreased the individual accounts. At this point, they are for fun money, individual important to us expenses (his gun range fees and my beauty expenses).
Each new expense (baby) - daycare, diapers, formula increases our household amounts & we are very happy with how it evolved.
September 23rd, 2015 at 03:10 pm 1443017449
HH, I figured after we got married, as our lives became more merged, most (if not all) expenses would come out of that one account which is why I was so set on it being the only one. I'll still have my fun money, but it will just be tracked within our account. His fun money will go to his own account. Even the important-to-only-one-of-us stuff will probably come out of our account - for example, DF's season tickets to DC United.