Joint account - how much do you put in?
Discussion
We started off with 'lets put in 250 each to pay for bills and food; anything left over can be used for fuel for joint trips, holidays etc'. Then she stopped earning commission in her sales job, so couldn't afford to contribute.
Our joint account became me putting in £250, paying for all of the bills out of it and buying all of the food myself out of my own pocket, with her occasionally using the joint account to buy her lunches because she was skint.
fortunately, she now has a better paid job and things are slowly returning to normal.... I only pay for the majority of the mortgage, most of the food and most of the joint account. She still seems to have more free cash than me....grrrr
Our joint account became me putting in £250, paying for all of the bills out of it and buying all of the food myself out of my own pocket, with her occasionally using the joint account to buy her lunches because she was skint.
fortunately, she now has a better paid job and things are slowly returning to normal.... I only pay for the majority of the mortgage, most of the food and most of the joint account. She still seems to have more free cash than me....grrrr
Mortgage and all bills, holidays, etc go through the joint a/c. Wages into my personal a/c.
Everything I spend is on a charge card which the joint a/c pays at the end of the month.
Mrs has access to my personal a/c and transfers whatever the joint a/c needs. Ranges from 50% to 100% depending on the time of year.
Probably have no need for personal a/c but have never got round to gettting rid of it.
Everything I spend is on a charge card which the joint a/c pays at the end of the month.
Mrs has access to my personal a/c and transfers whatever the joint a/c needs. Ranges from 50% to 100% depending on the time of year.
Probably have no need for personal a/c but have never got round to gettting rid of it.
Edited by Vee on Tuesday 11th November 10:27
We have joint account and our own separate accounts, and put in fixed amount every month.
I put in double what she does as i earn just under double more than she does. Bills etc come out and whats left in the account is our main savings. (Usually for holidays, Unexpected bills, Home improvements, My gadgets! and some for saving!)
I also pay the majority of the food shopping. Where she will pay for toiletries etc.
If she has any cash at the end of the month usually 100 - 150 quid or so will stick it in her ISA and this goes towards holidays and Christmas
It works well this way i think as non of us feel guilty for buying stuff, her nice makeup and clothes, me for gadgets and video games!
I put in double what she does as i earn just under double more than she does. Bills etc come out and whats left in the account is our main savings. (Usually for holidays, Unexpected bills, Home improvements, My gadgets! and some for saving!)
I also pay the majority of the food shopping. Where she will pay for toiletries etc.
If she has any cash at the end of the month usually 100 - 150 quid or so will stick it in her ISA and this goes towards holidays and Christmas
It works well this way i think as non of us feel guilty for buying stuff, her nice makeup and clothes, me for gadgets and video games!
IMVHO after 19 years of only having a joint account, I think it's one major cause of marital strife that should be avoided.
All our money goes into it. If either of us wants spending money, we feel the need to check with the other.
Now my wife isn't working it's worse.
I'd much rather we had a joint account for bills and mortgage and fixed car stuff like insurance, which I put in the same amount per month, and she have a house keeping/shopping/tea room/hair dressing account, and I'd have an account for petrol, for my pay, for presents and trips out.
A bloke I work with says his parents have a strict budgetary control system. He gives her money for food. If he buys food, she has to pay him back. If he bring vegetables back from the allotment, she has to pay (25% of the supermarket price), which allows him to buy more horse s
t to grow more veg. If she is careful with the food budget, she can afford clothes, books, and luxuries beyond those needed.
All our money goes into it. If either of us wants spending money, we feel the need to check with the other.
Now my wife isn't working it's worse.
I'd much rather we had a joint account for bills and mortgage and fixed car stuff like insurance, which I put in the same amount per month, and she have a house keeping/shopping/tea room/hair dressing account, and I'd have an account for petrol, for my pay, for presents and trips out.
A bloke I work with says his parents have a strict budgetary control system. He gives her money for food. If he buys food, she has to pay him back. If he bring vegetables back from the allotment, she has to pay (25% of the supermarket price), which allows him to buy more horse s
t to grow more veg. If she is careful with the food budget, she can afford clothes, books, and luxuries beyond those needed. eightseventhree said:
We have joint account and our own separate accounts, and put in fixed amount every month.
I put in double what she does as i earn just under double more than she does. Bills etc come out and whats left in the account is our main savings. (Usually for holidays, Unexpected bills, Home improvements, My gadgets! and some for saving!)
I also pay the majority of the food shopping. Where she will pay for toiletries etc.
If she has any cash at the end of the month usually 100 - 150 quid or so will stick it in her ISA and this goes towards holidays and Christmas
It works well this way i think as non of us feel guilty for buying stuff, her nice makeup and clothes, me for gadgets and video games!
Pretty much same as us.I put in double what she does as i earn just under double more than she does. Bills etc come out and whats left in the account is our main savings. (Usually for holidays, Unexpected bills, Home improvements, My gadgets! and some for saving!)
I also pay the majority of the food shopping. Where she will pay for toiletries etc.
If she has any cash at the end of the month usually 100 - 150 quid or so will stick it in her ISA and this goes towards holidays and Christmas
It works well this way i think as non of us feel guilty for buying stuff, her nice makeup and clothes, me for gadgets and video games!
We have an account for mortgage and council tax only, we both put enough in to cover and leave an emergency fund for when the boiler breaks, the roof needs doing, the windows need repainting etc etc. That kind of thing.
MOH buys all the groceries (or rather I use his card when doing tesco online) and I do the top up shops, toiletry shopping and miscellaneous bits.
As you say, if I have any money left at the end of the month it goes into my savings and then when holidays / new bathroom / kitchen comes up, I empty it and give it to him as a contribution towards the cost.
Seems to be an amicable arrangement so far.
Oh and non monetary - I do the majority of the washing, cooking and cleaning and birthday remembering
Both of our salaries go into one account and all of our fixed outgoings go out from that same account. We have a second joint account which has money transferred monthly to it for food shopping, but that is more to help us stick to our fairly strict budget than to allocated funds to each other.
Oh, and my salary is roughly 4 times that of my wife.
Oh, and my salary is roughly 4 times that of my wife.
fixed amount to cover the bills + a safety margin, split proportionately according to income. That way neither of us have to feel guilty about saving for something that the other person would feel a waste of cash, and we've never had a proper argument about money as a result.
Of course it worked slightly better when I had an income
Of course it worked slightly better when I had an income
Davi said:
fixed amount to cover the bills + a safety margin, split proportionately according to income. That way neither of us have to feel guilty about saving for something that the other person would feel a waste of cash, and we've never had a proper argument about money as a result.
I think that's the most sensible way to do it. Otherwise you'd end up debating money all the time. Although when you're getting divored the "proportion to salary" thing can cause an issue......
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