Married couples with separate bank accounts

I Heart Internet

We have a joint savings account, but each have our own too, and current accounts.

She has her own business, which means she has business accounts obviously.

Tbh I earn way more than her so it's a case of me paying most bills, etc and she paying one or two. We sort out cash week-to-week between us.

To be honest, I think the OP has a WAY too simplistic notion of banking and marriage - oooooh we're just back from our honeymoon, must close all previous bank accounts and open new joint ones, must replace all of wife's passport, driver's licence, bills, facebook profile with new ones that reflect her married status with her new name.......

Most people just get on with things, don't feel the crushing need to "act all married" by switching bank accounts!

syklops

Collie D wrote: »

If all the money goes into one account what happens with birthdays, Xmas, etc? Or random things like one treating the other to dinner out, flowers, little treats. Effectively the recipient is going Dutch on his or her own present.

Of course most of the above probably stops once the ring is on!

If I buy herself flowers or treat her to dinner, then I want it to come out of my money. Whats the alternative? Otherwise she is contributing to her own treat, which I can imagine could become a bone of contention.

Ghost Buster

I Heart Internet wrote: »

We have a joint savings account, but each have our own too, and current accounts.

She has her own business, which means she has business accounts obviously.

Tbh I earn way more than her so it's a case of me paying most bills, etc and she paying one or two. We sort out cash week-to-week between us.

To be honest, I think the OP has a WAY too simplistic notion of banking and marriage - oooooh we're just back from our honeymoon, must close all previous bank accounts and open new joint ones, must replace all of wife's passport, driver's licence, bills, facebook profile with new ones that reflect her married status with her new name.......

Most people just get on with things, don't feel the crushing need to "act all married" by switching bank accounts!

She didnt change her name, earns more than me...but thanks for trying.

I Heart Internet

Ghost Buster wrote: »

She didnt change her name, earns more than me...but thanks for trying.

That's your particular situation, and I outlined mine. Every couple will be different.

And that's the reason not everyone (not most I would guess) correspond with your simplistic notions of what married people should do with their banking.

Maximus Alexander

Not married, but living with my OH for the last 5 years and we have separate bank accounts. I wouldn't want it any other way to be honest. We don't even have a joint account for bills, although that would be useful. Right now we just transfer money back and forth to whoever is paying a particular bill, so a joint account for that would probably be a bit more practical.

But after rent / mortgage and utilities, what would be the point of pooling your money? It would become a logistical nightmare, how would you keep track of whether you were spending more than your fair share on personal things, entertainment, etc? I'd constantly feel as though I was spending someone else's cash.

Ultimately, what's mine is hers and vice-versa. If she ever needs anything I'm only too happy to provide for her, and her me. But day to day, if I want to go for a pint or order something on Amazon, that's coming out of my money, not our money. I'm spending what I earned, not what she earned. We both know exactly where we stand and what we have available for discretionary purchases and so forth, if I buy her a gift she can't see it on the statement.

For example, I bought her a Marc Jacobs watch a few months back and it took a few days to arrive, if she'd been able to see my account she'd have known about it and the surprise would have been ruined. Worse, what would even have been the point in me doing that if she was part funding it? :eek:

heroics

jon1981 wrote: »

Out of interest, if you earn different amounts how do you manage the joint account?

For example if you need to put in 2k to the account to cover mortgage, bills, food...etc. Would ppl both put in 1k or would they calculate the contribution based on the wage differences.

We do this I earn a good bit more than my wife and I put about twice as much in every month to the joint account. Our joint account is used for mortgage/household bills. phones and anything related to the cars is paid out of our personal accounts

czechlin

I'm nowhere near getting married but there's no way I'd have just one bank account shared with my potential spouse. Each to their own but it's not for me.
I hate bickering about money. I know couples that while they might be great otherwise tend to fight over money a lot. No thanks. I've got this advise from many people, who are way older than me and quite experienced when it comes to life. You never know what can happen. Keep some money aside, it'll come handy. I agree with this.
My account, his account + joint account for bills, savings and stuff. I'd like to keep my independence and I'd want the same for him. Plus like somebody else mentioned, I like to treat my loved ones, him seeing where the money goes would spoil the surprise.