News1 min ago
Joint Account?
12 Answers
A little bit of advice/suggestions please? I am getting married in 5 weeks time and am thinking about post wedding, what are your thoughts re finances? I am so much better with finances than my OH is, money just burns a hole in his pocket.. I earn a lot more than my OH and pay the majority of all bills and groceries but still have a disposable income for myself after that, my OH pays for the Electric and Water.
Some people have suggested a joint account (not a chance) with regards to his spending.. so I'm thinking of either keeping it the same but asking him for more of a contribution or set up a joint account but only use it for bills?
Neither of us drink and my OH smokes (I have only recently given up though)
What would you do please?
Some people have suggested a joint account (not a chance) with regards to his spending.. so I'm thinking of either keeping it the same but asking him for more of a contribution or set up a joint account but only use it for bills?
Neither of us drink and my OH smokes (I have only recently given up though)
What would you do please?
Answers
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For more on marking an answer as the "Best Answer", please visit our FAQ.Hi jack, yes the current system does work but now that we've paid off the wedding then I would hope he will start paying a little more toward the bills, of which I haven't spoken with him about this yet but I also don't want to be the bill payer and never get "offered" any more to help? I'm not sure if I'm making sense to myself now...
The modern way seems to be for couples to have a joint account for all the normal household expenses, like gas, lecky, Council Tax, etc, but for each to have their own accounts, for their personal spending. You can have as many bank accounts as you want these days. I have two with the Co-op bank, and one with Tesco, as I have three different employers.
Direct Debits have made everything so much simpler. I advise that the two of you set up an identical DD into this joint account every month, say £500 each.
Also think about setting up a regular DD into a joint savings account, to pay for holidays.
If your new hubby isn't very good with money, and not everybody is ( ! ) then I am sure he will appreciate this simple but fair arrangement. Your DD into the joint account might be more than his, if you earn more, but the principle of sharing the expenses is an important "red line" issue !
Direct Debits have made everything so much simpler. I advise that the two of you set up an identical DD into this joint account every month, say £500 each.
Also think about setting up a regular DD into a joint savings account, to pay for holidays.
If your new hubby isn't very good with money, and not everybody is ( ! ) then I am sure he will appreciate this simple but fair arrangement. Your DD into the joint account might be more than his, if you earn more, but the principle of sharing the expenses is an important "red line" issue !
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