Household Accounts

Discussion in 'Money & Finances' started by Peter Renfro, Dec 5, 2020.

  1. Peter Renfro

    Peter Renfro Veteran Member
    Registered

    Joined:
    Sep 13, 2018
    Messages:
    1,423
    Likes Received:
    1,707
    Just another curiosity how others do things post. For our entire married life 39years so far,we have had one checking account. There is no mine, there is no hers. Our thinking is that a marriage is a ship, you both are on it, if it sinks,you both go down.
    Of course we never had any great excess of money to hoard anyway. Any purchase over a hundred bucks or so is discussed. When I wanted a costly tool or toy, I got a part time job or put in over time to pay for it.

    What is your method?
     
    #1
  2. Ken Anderson

    Ken Anderson Senior Staff
    Staff Member Senior Staff Greeter Task Force Registered

    Joined:
    Jan 21, 2015
    Messages:
    24,773
    Likes Received:
    43,679
    We have two or three bank accounts but we both have access to them. Plus, we both have separate PayPal accounts because we're paid through PayPal, although my Social Security goes into another account. Mostly, what I earn from my online job is my spending money, although, from time to time, I have to send money to my wife to pay a bill that our other accounts won't cover.
     
    #2
    Peter Renfro likes this.
  3. Beth Gallagher

    Beth Gallagher Supreme Member
    Registered

    Joined:
    Jan 11, 2018
    Messages:
    20,956
    Likes Received:
    43,991
    Since we both had bank accounts when we met and married, we have kept both accounts for over 30 years. Both our names are on the accounts, but his old account is the primary where our income is deposited and bills are paid. My old account is a savings account where all dividends from my investments are deposited. Since I went through a divorce years ago, I have always believed that a woman (or a man for that matter) should have access to some funds of their own.
     
    #3
    Peter Renfro likes this.
  4. Thomas Stearn

    Thomas Stearn Veteran Member
    Registered

    Joined:
    Apr 21, 2018
    Messages:
    2,690
    Likes Received:
    2,530
    Guess we are also a bit of the old school. Always had one joint current account for incomes and bills. As far as savings accounts are concerned we were forced by the tax authorities to have separate accounts but have given permission for them to be accessed by either of us. For safety reasons I also have an account which I use for paying for online purchases of any kind only. This is linked to Amazon, for example.
    It turned out that having a major joint account works in our case but it surely does not always do. It was a nightmare for my brother because his wife just kept spending all the money that was in it always coming up with "excuses" and "reasons" why she'd needed it. Having separate accounts was the only solution then.
     
    #4
    John Brunner and Peter Renfro like this.
  5. Jeff Elohim

    Jeff Elohim Very Well-Known Member
    Registered

    Joined:
    Nov 26, 2020
    Messages:
    2,349
    Likes Received:
    777
    "...and no one went in need of anything. "

    Acts 4
     
    #5

Share This Page