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Reply #5: Here's what I have done before... [View All]

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Misunderestimator Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-13-04 12:36 PM
Response to Original message
5. Here's what I have done before...
Edited on Sat Nov-13-04 12:37 PM by Misunderestimator
Open a joint checking account at the same bank that you both (preferably) already have checkings and savings. If you don't have the same bank, I'd recommend changing banks. Then you work out your finances and agree on an amount that each of you contribute at a certain time of the month that will cover all your shared expenses, going out to dinner, etc.. Easiest thing in the world if you link your accounts properly, so that the joint account shows on each of your accounts page online. Then it's just a couple of clicks away to transfer cash from one to the other, and you both can see the history of transactions.

That way you maintain your personal space to purchase your own things from your own account, and you both contribute equally towards your joint expenses. I've also opened one joint credit card that is only used for joint purchases, going out to dinner together, etc. That card is paid from the joint checking.

You can also start a joint savings account with the same equal contributions.
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  -Married DUers: Question on Merging Finances with your Spouse Stevendsmith  Nov-13-04 12:30 PM   #0 
  - Is scrutiny an issue?  Sabriel   Nov-13-04 12:32 PM   #1 
  - No it's not.  Stevendsmith   Nov-13-04 12:34 PM   #3 
  - Well, we have been married for 15 years.  Midlodemocrat   Nov-13-04 12:33 PM   #2 
  - One Account  BernieBear   Nov-13-04 12:35 PM   #4 
  - Here's what I have done before...  Misunderestimator   Nov-13-04 12:36 PM   #5 
  - Great advice. Thanks.  Stevendsmith   Nov-13-04 12:38 PM   #9 
  - This is my recommendation as well  supernova   Nov-13-04 12:43 PM   #12 
  - We use the 3 account method...  Dem Agog   Nov-13-04 12:36 PM   #6 
  - this is what we use, it's worked for us for 10 years plus  sobersteelhead   Nov-13-04 12:58 PM   #14 
  - that's what we plan on doing  curse10   Nov-13-04 01:00 PM   #15 
  - Quicken is good,  reprehensor   Nov-13-04 12:37 PM   #7 
  - All of our resources are merged.  alittlelark   Nov-13-04 12:37 PM   #8 
  - Here's one idea  skygazer   Nov-13-04 12:39 PM   #10 
  - Have you guys thought about just adding each other to each other's account  MSgt213   Nov-13-04 12:42 PM   #11 
  - This was never a hard issue for us.  Zing Zing Zingbah   Nov-13-04 12:50 PM   #13 
  - It's unlikely that I would ever totally combine finances with anyone.  Starlight   Nov-13-04 01:19 PM   #16 

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