Joint Account

Just use a joint account here. All wages go in to it, all bills come out of it.

Anything we want to buy comes out of it (well, on to credit card first). I don't see the point in having extra hassle moving money in to another account just to buy stuff.
 
We both have separate accounts where our wages go and both contribute to a shared account which is used for bills etc. That way we have "our" money and money that's for use on whatever each of us want. However I must admit we've never had any problems when purchasing anything, it's very much a case of all the money is shared.

I think if you've got a good level of trust and communication there's no problem with joint accounts, problems only start when people stop talking or are too embarrased to talk about money.
 
Diesel said:
Just use a joint account here. All wages go in to it, all bills come out of it.

Anything we want to buy comes out of it (well, on to credit card first). I don't see the point in having extra hassle moving money in to another account just to buy stuff.
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A standing order is hardly hassle! Also, I'm sure most people who only have a joint bills account do it the other way round - salary into a personal account and standing order to a joint account to pay bills.
 
At the moment me and my wife still have seperate accounts.
We both work and our pay is obviously paid into our own accounts.
The mortgage leaves my account, along with a few other things and many of the bills go from my wife's account.

I do earn more money than her and if ever she is short of money or needs any more she simply asks me for some.
If it's a large purchase then it is something we would need to discuss anyway.

Once we have kids and I'm the only real earner then I expect we will then go for a joint account and all bills, mortgage etc will go from the same place.
 
I have my accounts, she has hers. We also have a joint account for all joint costs (bills, food, big joint purchases and meals out). We each pay an amount proportionate to our pay/outgoings into that account.
 
KaHn said:
Because what I earn is none of anyone elses business and that even if I did agree to have a joint account I wouldn't have all my wages go into it.
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You wouldn't have to. The Mrs and I both get paid into out own accounts and transfer agreed summs into the joint account. That acccount is used for all the bills, the mortgage, shopping, etc. Anything left over each month and we either save it for soemthing joint, spendit on something joint, or just reduce our contribution for the following month.

jamief said:
To me, that is truly bizarre.
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I don't see what is bizarre about it. A joint account is convenient for most people, but it's not mandatory.

As it happens I only have one because the Mrs wants to keep the bills and her account seperate. I don't have anything to do with the joint account other than putting money in and spending it. Mrs Asprilla manages it and rightly thought it would be a good idea if I was able to access it as well if I needed to.
 
Vixen said:
A standing order is hardly hassle! Also, I'm sure most people who only have a joint bills account do it the other way round - salary into a personal account and standing order to a joint account to pay bills.
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Why bother though? Just have everything going in and out of one account.
 
We both have seperate accounts and a joint account for the bills. Have a monthly standing order that drops my share of the bills into the joint account. How much we each pay depends on how much we earn. It is split so that both of us have the same amount of free cash left each month.

Why not just have a joint account? Saves arguments about money, about each other buying things and using up all the funds etc. Also I would probably buy less because I wouldn't want to leave her short.

How well does it work? Well, 13 years and no arguments about money...
 
[DOD]Asprilla;13645632 said:
I don't see what is bizarre about it. A joint account is convenient for most people, but it's not mandatory.
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My "bizarre" quote was directed at Kahn saying he what he earned was nobodys business but his own. I thought it was bizarre to have that viewpoint, but it was somewhat explained by him saying he'd never get married.
 
Vixen said:
A standing order is hardly hassle! Also, I'm sure most people who only have a joint bills account do it the other way round - salary into a personal account and standing order to a joint account to pay bills.
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This is what we do, we have a standing order going into our joint account which covers bills and a few hundred quid more which we use to save up for things around the house. It's no hassle whatsoever, we set up a standing order from each others accounts years ago and that was the only 'work' involved.
 
Diesel said:
Why bother though? Just have everything going in and out of one account.
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For a start, it's a lot easier to keep track of how much you're spending and on what. I like to have my own money to spend as I like and not have to feel guilty for doing so.
 
[DOD]Asprilla;13645632 said:
You wouldn't have to. The Mrs and I both get paid into out own accounts and transfer agreed summs into the joint account. That acccount is used for all the bills, the mortgage, shopping, etc. Anything left over each month and we either save it for soemthing joint, spendit on something joint, or just reduce our contribution for the following month.
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Had the same when I lived with my Mrs last year and we rented. It was great apart from the fact that we fleeced the £500 overdraft in a few month because of too much eating out etc and always saying 'Ahhhh put it on the joint card, we have plenty in there' :D

Otherwise separate accounts, and if we want to save up for something like a holiday then we would discuss it and start putting some away.

Saving up for a deposit to help us buy a house, and are looking at £50k for a nice round number. Some hard saving ahead during the next 2 years :eek::(
 
This thread has prompted me to apply for a joint account - been with my girlfriend for 2.5 years.
I see no real reason to get a joint account except because it helps with defacto Visa Applications should we wish to fulfill our dream and migrate to Australia one day!
 
Skyfall said:
Why?
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It seems odd that people live together, share their lives, bills, children etc, but they keep their "own" money separately, especially when married. Surely being married implies trust, respect and sharing - I can't imagine saying to my wife that I'm off to buy something with "my money". We are fairly comfortable financially, and earn a similar salary, but it has been the case since she was a student and I was working.

I don't feel that I am missing out on anything - if it something small (an xbox game or similar) I just buy it - something bigger (laptop for example) we talk about it and save for a month or two. I've outgrown the days of buying stuff on payday etc though, which maybe makes it easier. I don't take the pee with money and neither does she, our spending is based on mutual respect and discussion about it.

And surprises - I have my own credit card (£0 balance) which I use to buy surprises for her!
 
Bit of a bump... but can anyone recommend a good bank for joint accounts? Me and my partner are looking at opening one up but not sure who to go with.

I'm currently with HSBC and want to keep my own bank account. My partner has savings with Halifax and a current account with Barclays.

Will one of us need to move banks in order to open a joint account, or can we just go to any high street bank and open a joint account there and then?
 
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