joining finances

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SteffMay2009 Posts : 383 Registered: 10/22/08
Re: joining finances
Posted: Apr 14, 2009 3:46 PM Go to message in response to: TheNewMrsJ

We've been living together for 4 years, and own a house together. We both have seperate accounts right now, but after the wedding we will combine them. We just divide up bills in a way that's fair based on both of our salaries. We are waiting to do the combined account until after the wedding because we are hoping to be able to pay off our credit card debt with any wedding money, which will simplify the number of bills we pay, allowing me to take over the finances without needing an accounting degree. From there we will have one joint checking account, one "house" savings account for our next home, and one "emergency" savings account.


DoesntPlayNice Posts : 809 Registered: 12/17/08
Re: joining finances
Posted: Apr 14, 2009 3:56 PM Go to message in response to: SteffMay2009

I don't remember who asked the question...but what if one of you makes more money than the other?

When my hubby and I were just dating we paid our bills by the percentage of what we make. Obviously splitting 50/50 would be unfair for the one who makes less. I don't really know how to explain it but I had this excel spreadsheet and a bunch of formulas set up...I would just put in the amounts of our paychecks and the amount of the bills and the formulas would tell us who pays what and how much.

When we got married and bought a house....we decided that we each get an equal amount of spending money each week. It seems like I get more than him but that is only because he spends his money right away and I save mine for weeks and buy something with it when it has added up.

Previously Posted as Military Bride.

Back from Iraq and ready to switch out the ACU's for a Wedding Dress!


MrsWilliams2008 Posts : 1,431 Registered: 7/19/07
Re: joining finances
Posted: Apr 14, 2009 4:01 PM Go to message in response to: lovetoteach

apparently i can't read. I thought this topic said "joining forces". Im like who is this: wonder woman and batman?? Anyway cleans contacts

Different things work for different people. It was our initial plan to combine accounts, but realized that since we were already on direct deposit for our jobs, and i have automatic/electronic draft on bills, it may be more of a headache to fool with that. Our checking accounts are "separate, but equal". After the wedding we put both of names on all accounts. We both have debit cards for both checking accounts.
-My check pays the rent/utilities/my car note/gas for my vehicle/our car insurance/my credit card/my part of church tithes. After that, what's left is just a couple hundred dollars.
-His check pays for his car note/gas for his vehicle/his student loan/his credit card/his part of church tithes/groceries. Since he has the greatest amount left over after payments, whatever is left, we share.

We split the amount put in savings every month.

As for the question about what to do if one makes more money than the other: I make anywhere from 20-30%% more than DH, which is why my check catches the bigger ticket items. It's never really been an issue because we have never had a problem with "share, share alike". All money that comes into the house is OUR money no matter who's name is on the check. So basically, we see it as we make equal amounts of money.

Don't do what you think everybody else is what works for you guys!

Poster Formerly Known as beauti381 Stafford&RobertWilliams, Jr

Happily Married since June 21, 2008

Happy Together since June 20, 1994


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