Married couples only: how do you handle your finances?

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Married couples only: how do you handle your finances?

bayosgirl bayosgirl
My husband and I have separate bank accounts, and that's the only way I would ever do it. However, I do know that most married couples put their money together. How do YOU handle your money?
Answers (private voting - your screen name will NOT appear in the results):
We have separate accounts
14  (33%)
We have a shared checking account but separate investments
3  (7%)
All our money is together
26  (60%)
Total votes: 43
Poll is closed
02/02/2012
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wrmbreze wrmbreze
Since I handle mostly everything anyway and if he wants something he asks me if we can spare it, we share everything.
02/02/2012
- Kira - - Kira -
We have a far more complex system than your options allow for...

We have a joint checking for bills. We have a joint charge card for purchases. We have a joint savings that pays the charge card. We have separate checking accounts that a portion of each of our checks goes into as our own spending money to do with as we please. We have joint investments for our son but (obviously) separate IRAs and 401k's. I also have savings accounts in just my name for our son and for us that he's just not on because he has no interest in them. In fact, the only account he manages is his personal spending account. All other accounts (his personal investments included) are managed by me. I decide where to open accounts, what we need accounts for, what to spend on, how to invest, etc. I don't think he has a clue what our mortgage payment is, let alone any other bill we have. *shrug*
02/02/2012
Eliyahu Eliyahu
I earn most of our money, and my wife manages our household and finances...works out very well for us.
02/02/2012
Kitka Kitka
He earns the money and is the one who mostly takes care of the bills, etc.
02/02/2012
PassionateLover2 PassionateLover2
I am in the business of advising an counseling clients in the financial planning business. As a CFP, there are many reasons to consider various forms of ownership. Seperate IRA's is obvious, but beneficiary designation is critical for estate planning purposes. Having a joint check or savings account is helpful in support of the overall family unit. But having a seperate checking or even savings account provides both parties the independence to be responsible for handling their own finances. I find too many women rely upon their husbands to handle all the finances. My view is that a woman should have just as much knowledge in dealing with money as a man. In the death of one spouse, her understanding of money will be critical. Sometimes, having everything joint is not necessarily always the best solution either. Seek a good financial planner and they will provide information or answer questions in your specific case. Everyone is different. Consider tax planning, risk planning (insurance), investment planning, retiremant planning, and estate planning for your overall financial picture. It is a complex field, but the more you know the better informed you will be to meet the challenge of money matters! Good luck!
My wife has her own money and she can do anything she wants with it; she works too!
02/02/2012
- Kira - - Kira -
Quote:
Originally posted by PassionateLover2
I am in the business of advising an counseling clients in the financial planning business. As a CFP, there are many reasons to consider various forms of ownership. Seperate IRA's is obvious, but beneficiary designation is critical for estate ...
I knew I remembered someone else on here worked in finance! I was hoping I wasn't the only one who came on here with a crazy long answer.

I agree that learning how to manage finances is important. I have so many people - male and female - come to me after a spouse has died totally clueless about how to write a check, let alone handle their portfolio of investments. After the death of a spouse is not the time you'll want to try to learn those things either. I try to involve my husband because of this, but he won't hear any of it. I have a book written up with all our bills and accounts so should anything happen to me he could bring it to some poor person to help him sort through.
02/02/2012
Hallmar82 Hallmar82
My wife used to manage all of the finances but now I do them all. The main reason for the switch was she was having trouble with depression and OCD. So, now I try to stay up on keeping the checkbook and balancing the budget.
02/02/2012
Jul!a Jul!a
We have separate checking and savings accounts, and a joint savings account, but we can access each other's accounts for whatever reasons.
02/02/2012
Kitt Katt Kitt Katt
We do everything together, especially when it comes to our finances.

We put all of our income into joint savings and checking accounts. We actually spend very little cash. We make 99% of our purchases with our credit cards, which are paid in full each month. This allows us to easily document and monitor where our money is going. We do have separate retirement accounts, but we work together to determine how to allocate those funds within the limitations of those plans.

This won't work for all couples, but it has worked extremely well for us, mainly because we both place a high priority on communicating and working towards our shared goals.
02/02/2012
js250 js250
We have separate accounts. I deal with the bills, we split them. It works fairly well and cuts out any arguments over money.
02/02/2012
scottg1986 scottg1986
I pretty much handle everything but she will come home and say oh by the way I bought this and that, regardless if there was money for it or not lol
02/02/2012
PassionateLover2 PassionateLover2
Quote:
Originally posted by scottg1986
I pretty much handle everything but she will come home and say oh by the way I bought this and that, regardless if there was money for it or not lol
Oh, by the way, that's called impulse buying! It is when the left hand doesn't know what the right hand is doing!! Good luck!!!
02/04/2012
bayosgirl bayosgirl
Quote:
Originally posted by scottg1986
I pretty much handle everything but she will come home and say oh by the way I bought this and that, regardless if there was money for it or not lol
I'm the opposite-I will research an item for hours before I decide to buy it. Very careful with my money.
02/04/2012
married with children married with children
we share a checking account and credit cards. I set up her own retirement account, and I have my own. I also have a emergency savings account in only my name (it is what was offered at the time, and I could not turn down the bonus % to the interest rate). She is not happy about that one, but like I told her, it covers things like paying for a new car, new roof on the house, bills if I loose my job, ect.. Its not there for anything else.
02/04/2012
MGDavicnigirl MGDavicnigirl
We have separate accounts for everything.
02/09/2012
unfulfilled unfulfilled
We have a joint checking account, I have a seperate savings account, we just started the boys a small cd that we plan to contribute to every year to help when it's time to buy them vehicles and go to college, and he has a retirement plan from work. I pay all bills and write all checks.
02/12/2012
Airen Wolf Airen Wolf
Quote:
Originally posted by bayosgirl
My husband and I have separate bank accounts, and that's the only way I would ever do it. However, I do know that most married couples put their money together. How do YOU handle your money?
I don't work so our money is joint but I have a household account that is mine only.
02/12/2012
fredacarl fredacarl
Quote:
Originally posted by bayosgirl
My husband and I have separate bank accounts, and that's the only way I would ever do it. However, I do know that most married couples put their money together. How do YOU handle your money?
together
02/13/2012
MistressDandelion MistressDandelion
We have separate accounts, but we use our money all together, and I manage everything.
07/20/2012
meluaz69 meluaz69
everything is shared here we have our own money each of us but the majority of it is shared
07/23/2012
Missmarc Missmarc
Quote:
Originally posted by bayosgirl
My husband and I have separate bank accounts, and that's the only way I would ever do it. However, I do know that most married couples put their money together. How do YOU handle your money?
We have separate accounts, but I pretty much manage the money.
07/23/2012
HB042 HB042
We each have an individual checking and savings, we have a joint checking and savings, and the credit cards are in both of our names. I have one that is in my name only. The joint checking account is mostly for bills and other expenses that apply to both of us. I handle all the bills.
07/23/2012
SecretToyLover2 SecretToyLover2
Separate accounts for our personal things. Such as, if he needs new clothes or wants to buy a boat, he can use his personal money. If I want to go on a shopping spree or get a new car, I use mine. We use a percentage of our paychecks to go into those accounts, leaving a majority for our joint family account.
07/23/2012
Beck Beck
All of our money is together. He works and I stay home to take care of the house and kids. We hardly make it by with having the one account to buy things; let alone have separate accounts for each of us to use as we please. If we need something we have to go buy it and that is the end of it.
07/23/2012
booboo111926 booboo111926
I've only been married for 2 months so for right now everything is separate but we will eventually get a joint account.
07/24/2012
Kitka Kitka
All our money is together since I'm not working, although it would be all together even if I was.
07/24/2012
Total posts: 27
Unique posters: 23