Joint bank accounts

We have bills come from personal accounts but have a spreadsheet that shows each of us pay the same % of salary, we do have 2 joint savings accounts though and another joint account where the shopping comes from (we both put equal amount into the shopping account)
 
Priapus said:
Thanks all, seems super common thing to do.

I've just opened up a Monzo account and the misses is doing the same and then will open up a joint account with them to get the ball rolling. Decided on a 60/40 split as I earn more than she does by a fair margin so, seems fair I should pay a higher %.

Will then move all DD and bills to come out of that account and give it a trial run for a few months. Seems like it would make managing things much easier for the bills.

Not sure what we will do with our savings though. We have a few thousand in each personal account that we consider "ours". Might move that to the joint account too, if there is a separate "pot" there for it - will see how it works once the misses is done opening her Monzo account.
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Yeah I pay 1100 and she pays 900 due to salary differences.
That does cover basically everything we share including car insurance/petrol.

Expect we'll have to increase that now with more expensive energy bills.

We do not have joint savings
 
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413x said:
Yeah I pay 1100 and she pays 900 due to salary differences.
That does cover basically everything we share including car insurance/petrol.

Expect we'll have to increase that now with more expensive energy bills.

We do not have joint savings
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Our childcare cost is set to reduce by a few hundred £ starting in Jan, so that means we each get an extra hundred or so per month to do with whatever.

Octopus is being weird with my account. It’s in credit and I owe them but they have not debited the owed amount yet. So will keep paying them the same DD amount for now but it might reduce soon
 
Priapus said:
Our childcare cost is set to reduce by a few hundred £ starting in Jan, so that means we each get an extra hundred or so per month to do with whatever.

Octopus is being weird with my account. It’s in credit and I owe them but they have not debited the owed amount yet. So will keep paying them the same DD amount for now but it might reduce soon
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When child care costs vanish it must feel like getting a huge pay rise! I can't imagine my sister is looking forward to that Bill coming!
 
One joint account with Barclays, all our money goes in that, all bills come out of that.
Junk we buy in CC and pay it off in full from the joint account.
 
subbytna said:
Sorry OP for hijack, what's a chase card? Bank account?
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Chase is the consumer bank of JP Morgan.

There are lots of ways to make your spending benefit you. Amex is usually the winner here, especially if you fly for holidays. I use Amex as my primary and the free Barclaycard Avios when Amex isn't accepted.

Of course, the key with any credit card is to not abuse it. If you pay the statement balance in full each month, you get all of the rewards with none of the interest.
 
I think it depends on how good you, or your partner, are with money and also how long you've been together (trust and knowing somebody well). With my ex, she was very good with money so easy no brainer to just lump all in and have one joint account. She earned less than me but after the bills came out we budgeted for the month and if we had anything spare and we wanted something for ourselves, we'd just ask each other. I had no issue in knowing that most of that spare money was mine. If you or the other person aren't the most responsible then yep, keep what is left seperate.
 
Junglist said:
We each have individual accounts but we have a Monzo joint account that all bills come out of and we pay into each month
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Yeah, that’s what we are going to try doing from next month.

Firegod said:
I think it depends on how good you, or your partner, are with money and also how long you've been together (trust and knowing somebody well). With my ex, she was very good with money so easy no brainer to just lump all in and have one joint account. She earned less than me but after the bills came out we budgeted for the month and if we had anything spare and we wanted something for ourselves, we'd just ask each other. I had no issue in knowing that most of that spare money was mine. If you or the other person aren't the most responsible then yep, keep what is left seperate.
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We’ve known each over for over 20 years. Been together for 8. So trust isn’t an issue but it’s a fair point. There was a post on these forums when someone emptied out a joint account.
 
montymint said:
We too have joint accounts. One for the mortgage and other direct debits (regular bills) and another for and petrol. We also have a joint savings account.

Any left overs stay in our own accounts to spend on ourselves.
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I wish we done this,

We kept our accounts separate, I pay the bills, she pays childcare and food.

I do the lions share of going out money also.
 
Both our salaries go into one account, all bills come out of that account. If we want to buy something individually - we buy it. If it's a big purchase (holiday, car etc), we'll discuss it first. None of this % bill paying nonsense.
 
I'm doing it wrong, separate accounts, I pay all bills and on top of that, transfer £1k to the Mrs each month... The Mrs does pay for food though..

We are both happy.. have talked about a joint account for bills, but she doesn't want the hassle..
 
Don't think it would work for us with all money in joint account.
Not for trust more for fair.

Like my last holiday was 3000 pounds. I couldn't take that much out not knowing who's it was. That (for me) would have to come out of mine.
 
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