Thursday, May 13, 2010

How do others handle their money while in relationships - do you share or pay your own bills separately?

I am curious - when others are in relationships - do you put your wages together and share all the bills or do you keep your own money and pay half the bill each and do you have separate bank accounts or do you have a share bank account. It would be interesting to see how others handle this - in my own relationship we share everything.How do others handle their money while in relationships - do you share or pay your own bills separately?
Well, the best way to get your answer is look at your parents and people you know who is married. Most married couples combine their income to pay off each other bills.





In my family, both my parents work. My mom shops alot and my dad pays all the bills. They have a joint checking and savings account.





Though, there are some married couples that keeps their accounts separate. Usually its young married couples because they are not sure whether the marriage will work or not. Believe it or not, most marriages that end divorce is because of money issues.How do others handle their money while in relationships - do you share or pay your own bills separately?
Married? Then share... as my good buddy Dave Ramsey says - the pastor pronounced you ';husband and wife'; not a Limited Liability Partnership.





Engaged or dating? Seperate accounts, seperate bills, seperate responsibilty. Until there is a commitment to each other enforceable by the law you keep your money and debt yours, and the other person's theirs. If you open a joint credit card or loan and one of you dies (or skips town), the other is left with the debt and no recourse to obtain the other person's money. So you would end up with 2x as much debt and half the income.
I have seen many types of arrangements in my line of work.





The best: Maintain your seperate accounts, BUT have a joint account for your general living expenses and bills etc.





Thoughts: What type of relationship are you in? How much risk are you willing to take on? How would you feel financially if (god forbid) it fell apart tomorrow???
Before I got married we payed our own bill's and had our own bank accounts. we both agreed on that because people who do what your doing for the most part get riped off when the other splits from the relation ship. they take all the money and guess what since it is a shared account the police can't do a thing about it. So think about it.
You're living in a sin, but that's all you see around, you make him feel like a god and then you hate him for it but you like hating him. But to answer your question. YOU NEED TO COME UP WITH A BUDGET THEN STATE WHO IS GOING TO PAY WHAT AND HOW MUCH. PUT THAT MONEY IN A JOINT ACCOUNT.MAKE SURE NOBODY IS DIPPING IN IT AND USE IT ONLY TO PAY RE-ACCURING BILLS. bUT YOU SHOULD BOTH HAVE AN ACCOUNT SEPERATE FROM THAT SO THAT EVERYONE HAS SOME PRIVACY, CONTROL AND MONEY TO SPEND
Share.





But, I've never put his name on my student loans (taken out before we met) and his pre-marriage debts don't have my name either. That way, if something happens to me the gov't can't make him pay the balance of my loans.





At the moment, I'm not working outside the home. His wages pay the bills. BUT, we take into account what it would cost to hire someone to do everything that I'm doing at home (if I were to go back to work). It actually works out financially better for me be at home. (bonus is he gets good healthy homemade lunches instead of quickie-mart sandwiches)
My boyfriend and I have a joint account for household expenses. We put a fixed amount in that account each month and pay all the household bills from there. The rest of our money is in our own checking and savings accounts and investments. This system has worked very well for us for years.
We both maintain our orn accounts, but we have one shared chequing account that money is transfered by both of us into it to pay all the household bills. We had agreed and 50% of what each of us make.





Good in theory but it isn't working right now, I am putting 90% of what I make into it and we still come up short so I have to beg him to put more in( I feel like a 3 year old asking for my allowance). Things hopefully will change, and this way we both know what the bills are and can cut back if we are living beyond our means (which we are now).
It is according to your trust in your relationship. If what you do works for you, you got it. You can teach or tell others some things.


My significant other is not good with financial matters so we don't tempt him in that area. He is the main bread winner but he brings it home to me. I have a good since for financial business. I don't abuse my honey but I handle the money. We have ten children with 6 still in the nest. I need to be wise in spending and finding the best bargains for us.


We don't bank together. We trust one another and share a common goal, to take care of our children and help others where we can. We only got one life to live so we live it to the fullest. You and your other be blessed.

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