Mortgage Rate Rises

Uther said:
Yeah that's how we do it.
Bills account
Joint account
Then our own savings / personal spending accounts.
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Yep same here, bills account that gets an equal DD including a float amount from each of us each month (we're often in the float for ad hoc dog sitting)... that covers every bill... mortgage, council tax all the way down to spotify, netflix etc.

The a joint credit card, amex currently as JLP went mental and cancelled themselves.. this is for all spending to maximise points/rewards.

Then personal current accounts and premium bond accounts for savings.

Works great... I couldn't meaningfully make a spreadsheet.. if nothing else a portion of my income is target based so I've no idea from one quarter to the next how much I'll get paid.
 
Uther said:
Yeah that's how we do it.
Bills account
Joint account
Then our own savings / personal spending accounts.
Click to expand...
?? if your married and trust each other why separate accounts ? had a joint account for last 32 yrs .. everything go's in and if we need want something .. just get it ..
 
flea.rider said:
?? if your married and trust each other why separate accounts ? had a joint account for last 32 yrs .. everything go's in and if we need want something .. just get it ..
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Nothing to do with trust. The large lump sum. Is in the joint savings.

It's more about privacy. We are married, not joint at the hip.
 
flea.rider said:
?? if your married and trust each other why separate accounts ? had a joint account for last 32 yrs .. everything go's in and if we need want something .. just get it ..
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i would say what ever works for the couple.

my parents are like you, my mums money is my mums and my dads money is............. my mums :D

FWIW i am on my 2nd marriage and have done it both ways

1st way like my parents, all money into joint account.

2nd marriage we have our own accounts, a joint account and then a buildings account with money in for my wifes flat that we rent out.

now, my 1st divorce was nothing to do with finances or trust from that side of things,

but personally the 2nd way works better for me............. in my 1st marriage my wife was one of those people who was constantly spending money on tat, i never said anythign but it constantly irked me the crap she wasted. OTOH day to day, i spend nothing over essentials........ but when i buy i go big, it tends to be really big (new games pc levels of big) and when i did this i invariably felt guilty and got stink eye off the mrs despite over the course of the 12 months i spent no more, probably less on fluff than she did.

now it is better all round for my relationship and again YMMV but all bills and stuff for our lad are split from the joint account which we put money into each month (though we need to up that as we are doing emergency top ups almost monthly now, then everything else is ours to do with what we want in or current accounts no guilt, no pressure and it means we can buy each other gifts without the other seeing what it cost.

it also works for us because we both earn similar (actually my wife earns more than me now). of course however if one of us needed money it would not be a problem taking from the other. not had to yet however.
 
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flea.rider said:
lol privacy .. your married no such thing !!! unless your doing something you shouldn't :p
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Like buying birthday presents/treats/planning fun stuff that keeps things fresh?

You sound like a barrel of laughs, my other half an I trust each other completely, we're totally all over how much each other earns/have no solo debts etc but there are plenty of occasions where we spend our own money on things that are just for us and there's no debate required.

Obviously if that was a new car or whatever then it's structurally important to the financial relationship so it would be at least discussed but sometimes it isn't because I earned it, I want it therefore there's no sense in inviting a debate.

I guess helpfully we earn about the same but I'm glad I don't see every pend she spends. We don't own each other.
 
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bigmike20vt said:
now it is better all round for my relationship and again YMMV but all bills and stuff for our lad are split from the joint account which we put money into each month (though we need to up that as we are doing emergency top ups almost monthly now, then everything else is ours to do with what we want in or current accounts no guilt, no pressure and it means we can buy each other gifts without the other seeing what it cost.

it also works for us because we both earn similar (actually my wife earns more than me now). of course however if one of us needed money it would not be a problem taking from the other. not had to yet however.
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This is how we do it, have a spreadsheet that calculates our income and personal outgoings, works out our 'disposable' income each after that, then each person's % of that total disposable, which determines how the joint costs are shared.

I have 60% of the total disposable, so pay for 60% of all our joint costs (mortgage, bills, food, etc).
 
jaybee said:
I know a couple that got divorced and one of the main reasons was a spreadsheet that the women tried to enforce. I'm not saying she was wrong or right. I use spreadsheets to knock up adhoc things during purchase decisions, but don't use one all the time tracking everything. I have one I knocked up purely to help me understand mortgage projection stuff.
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Spreadsheets should be an aid not a stick to beat yourself with.
If you're adding every transaction that's fine. But seems overkill to me personally

Mines just for regular payments and rough numbers so I know I'm not generating too much debt
 
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I have a properly OTT spreadsheet that tracks every single transaction at detail level. I divide household bills proportionally by salary. I can tell you my 3 months cash flow projection (it isn't good).
 
Maccy said:
Looks like some rates have dropped today, 2 year tracker with Natwest at 3.99% for me.
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Decided to sign up to first direct to get on the regular 300ppm saver at 7pc. Not sure how long it will stick around. Forecasts obviously think we are at/near the peak
 
krooton said:
This is how we do it, have a spreadsheet that calculates our income and personal outgoings, works out our 'disposable' income each after that, then each person's % of that total disposable, which determines how the joint costs are shared.

I have 60% of the total disposable, so pay for 60% of all our joint costs (mortgage, bills, food, etc).
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Single wage wife looks after the children, it would be nice if she went back to work at some point but to be honest it's nice to come home to a meal on the table and a clean house.
 
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413x said:
Decided to sign up to first direct to get on the regular 300ppm saver at 7pc. Not sure how long it will stick around. Forecasts obviously think we are at/near the peak
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So the maximum amount of interest you will receive after 12 months assuming you put in £300 per month is £136.50. Big wow.
 
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