Joint accounts

[brodiej]

Hi everyone

I was interested in the different views people expressed here

http://www.guardian.co.uk/money/2013/mar/02/whats-mine-is-mine-couples-cash

We've been together about 2 years and I am working and my wife is currently looking for work. We don't have a joint account - the mortgage and bills etc come out of my account.

We are planning on a joint account - we're just too lazy to get round to it.

As far as I'm concerned, the money is, like everything else, shared and it doesn't matter who earns it.

I know some people advise separate accounts / some joint accounts and some a joint account for bills, mortgage / rent / holidays etc and separate accounts for personal spending.

What do other couples do?

 

[chqshaitan]

i am getting married in a few months and we have decided to stick with our own accounts. I am generally paying for everything besides the food, which she gets, so that keeps it simple.

Thing with a joint account is that it gets difficult to have your 'own' money as such, the other half will typically have more of a say over what it gets spent on i dont like that lol.

 

[Monkreadusuk]

All our wages go into her account. Then she filters pocket money into the joint account.

Although recently ive just been using her card for joint spending. Like fuel and food.

This is mainlt because up until i met her 3 years ago, I was terrible with money

 

[ianrauk]

Been with Mrs Ian 17 years and we have always had separate accounts. We both pay into a household account where all the bills are paid out of.

 

[aces_up1504]

We have a Joint account and account in my name and a saving account in my name

All our wages are paid in the account in my name, which is then used to pay direct debit bills etc. I then transfer living expenses into our joint account for daily spends, food petrol etc. Any money left in the bills account is either transferred into the joint account as required or into the savings account at the end of the month.

Have found it works very well.

 

[CopperCyclist]

We have a joint account and always have since we moved in together. I manage all the finances, the other half often jokes that she wouldn't have a clue if I spent money, but I'd know straight away if she did!

 

[brodiej]

Being new to all this - do you have to pay any monthly admin fee or anything for a joint account?

 

[bianchi1]

DON'T DO IT!!!!

 

[jamin100]

Joint accounts here.
All wages go into a joint account where all the bills come out of.
The all living money goes into another joint account for us to spend.
Savings (what little there are) are all technically in my name

 

[GetAGrip]

All monies are pooled into one account and I manage the household budget. If there's any spare cash floating after bills are paid (seems less and less each month now) then we decide between us what to save or spend.
Over the years it's been give and take and swings and roundabouts. Everyone in the household gives something to add to the quality of family life. It just may not always be hard cash!
We have our moments like everyone else, but very rarely if at all do we fall out over money.

 

[yello]

Been with Mrs Ian 17 years and we have always had separate accounts. We both pay into a household account where all the bills are paid out of.

Same here, until we moved to France and stopped earning. Now it's a single household account.

We both still have personal accounts in the UK but they are pretty much unused.

 

[Arsen Gere]

We've had a joint account since before we were married since I was the only one working. That was over 30 years ago. I have had periods out of work so has my wife including a few years to raise our son. So there is no question of having to ask the other for money so pressure is not so bad when you are down and out of work.
I think you think twice before spending money and you don't 'impulse purchase' daft things.

 

[snorri]

Being new to all this - do you have to pay any monthly admin fee or anything for a joint account?

Different banks have their own charges for different services etc. you would need to check with your bank.

 

[brodiej]

Different banks have their own charges for different services etc. you would need to check with your bank.

Thanks.

It seems everyone does different things - I should have added a poll (can I still do this?)

Ta

 

[Beebo]

We have a joint account, and our own accounts too. The vast majority of the money goes into the joint account to spend on mortgage, food, bills, clothes for kids etc. A smaller amount stays with me and the wife. So we have a finite amount of money we can spend every month on extras!
I wouldnt want all our money going into one joint account, Its nice to have your own money to spend on what you want without feeling you have to justify every purchase.