Joint bank accounts

Both salaries go into the joint account for bills and we use a joint credit card (well 1 credit card account with an additional cardholder) for all purchases, which gets cleared in full each month.

I didn't realise this was uncommon until a thread on here a few years ago. We've been doing it this way since we were in our early twenties.
 
DanTheMan said:
Both salaries go into the joint account for bills and we use a joint credit card (well 1 credit card account with an additional cardholder) for all purchases, which gets cleared in full each month.

I didn't realise this was uncommon until a thread on here a few years ago. We've been doing it this way since we were in our early twenties.
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Yep, same as us on the credit card too. I think we're "old school". loads of our friends think it's really strange.
 
VRDoctor said:
I suppose that's the difference - I don't see it as hers or mine, it's just ours.
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For me. It would add more hassle than it's worth. Like if one of us wanted to spend 5k on something and it hit the savings too much it would be too much admin and hassle to figure out if it was OK to do.

For me when money is separate it doesn't matter what each of us spends it on.
 
As a few others have said me and the wife share one account. It doesn't matter where the money comes it's classed as ours. Money has been much easier to sort since we did this years ago.
 
I'm a minority at work, I only know one other that does it the same way as us.

It's funny how it's so different. I just see it as money for the house and family, doesn't matter where it comes from or how much each other earns.
 
413x said:
For me. It would add more hassle than it's worth. Like if one of us wanted to spend 5k on something and it hit the savings too much it would be too much admin and hassle to figure out if it was OK to do.

For me when money is separate it doesn't matter what each of us spends it on.
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You've made me think now...would there be an amount that one of us wanted to spend on our self that would cause an issue?

I can't actually remember the last time one of us spent more than £1k on something that wasn't 'joint'. All holidays are done together and the big expenses tend to be house or car based, which are to benefit both of us.
 
DanTheMan said:
You've made me think now...would there be an amount that one of us wanted to spend on our self that would cause an issue?

I can't actually remember the last time one of us spent more than £1k on something that wasn't 'joint'. All holidays are done together and the big expenses tend to be house or car based, which are to benefit both of us.
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Yeah some of our solo stuff is quite expensive.
Like say I wanted to buy a sports car. I certainly wouldn't want to take that out of a shared account as it would be very much for me.
 
413x said:
Yeah some of our solo stuff is quite expensive.
Like say I wanted to buy a sports car. I certainly wouldn't want to take that out of a shared account as it would be very much for me.
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'Shared' and 'me' (and also 'my partner') can work at the same time but only if everyone understands the rules of engagement, as it were. If you have a "that's mine and that's yours approach", it's not joint, it's two individuals. That's fine but also explains why a joint approach doesn't work for you.
 
I/we've had a joint account for over 25 years, we had separate accounts until she started work after the kids got to school age.

I'm lucky she is a tight git so it's primarni over armani.

I'm just glad she never looks at the bank app for the transactions, re pc parts.

She sees a balance number and that's enough.
We've been together 35 years so knows most of my tricks :D
 
all our money goes together

4 accounts

1 bills - all dds
2 family spends - food shopping, kids etc
3 my spends set amount - spend how i like no questions
4 wife spends set amount - spend how she like no questions

rest into savings/ investments

never understood keeping your money seperate if you are married.
 
We have separate bank accounts. I pay the mortgage and electricity bill, and a couple of others, and she pays the council tax, TV licence and buys the food.

We buy our own petrol.

We are both not great with money but it works ok.
 
Joint. I don't think they are common in the UK but we have an "offset mortgage". A savings account that offsets interest on your home loan in lieu of paying out interest (Interest on savings is taxable too of course). So the more that is in there each month the less interest and more principal you pay off as the payments are still the same, effectively shortening the length of the loan. All income goes into there, everything is purchased with a rewards points based credit card of which we have one each. We also have separate accounts for incidental spends which neither of us can see the others of which we both do an equal amount each month. Use this for buying clothes, PS games, hobbies, only fans subs, bottle of champagne at the Spearmint Rhino etc
Only 3 payments leave our account each month. Mortgage payment, credit card payment (balance in full on the very last day, maximising interest free period), payment to our spending accounts.

I'm previously divorced and money management and what I deemed to be unfairness was one of the driving factors of that. The system I have now I could not be more happy with. :)
 
utajoker said:
never understood keeping your money seperate if you are married.
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For me personally, it's not a selfish thing. My wife is just horrible with money to be honest.

She's always in her overdraft, has money on credit cards etc. I've helped her clear her debts before, done multiple balance transfers to my Credit card etc over the years (where she pays the monthly amount at 0% interest) but it just seems to happen again and again.

She had a £3000+ PPI payout ages ago and I thought that would sort it out, but it wasn't long before that was gone. Another time she ended up with £10,000 in her account from a family member leaving some money in her will and that was gone within 12 months. It's an addiction/pattern that she can't break out of.

Still love her :)
 
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We have a joint account plus our own money. We both pay an amount into our joint which goes towards all bills including food and petrol with some left over.

Then we have our own savings plus own guilt free disposable income. We make sure that we have some left over for kids stuff too.

Works well for us but neither of us are big spenders and neither of us really drink very much.
 
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