Member Questions

Ask a question

As a couple, are your finances joint or separate?”

18 replies so far...

  • We have joint finances, but each of us has an allotted amount that goes into a little "spending account" for trivial items (Starbucks, dinner out with friends, hobbies, etc.).

    Flag as inappropriate Posted by Julia W. on 26th June 2008

  • Having joint finances makes it easier for us to keep track of how much we are spending and saving each month. To help us stick to our budget, we keep a minimum amount in our checking to pay bills, use cash for any extra expenses and the rest goes into our savings.

    Flag as inappropriate Posted by Rebecca on 23rd June 2008

  • One joint account here, too. In hindsight, a joint household and separate personal would have been good. But you know what they say about hindsight...

    Flag as inappropriate Posted by on 20th June 2008

  • The Hubby and I have joint finances. In hindsight, separate would have been smart.

    Flag as inappropriate Posted by on 20th June 2008

  • We joined accounts after we got engaged (6 months pre wedding). My husband is aware he is not good with budgeting and will overspend if the money is there. We have separte checking accounts - one for the family (I keep) and one for my husband (limits what is avaiable for him to spend - however, we don't call it his allowance!). It has worked well and keeps money fights to a minimum.

    Flag as inappropriate Posted by Lisa Nelson on 5th June 2008

  • We do both - 90% of our paychecks go into a joint account and then we each keep 10% in our own account to spend as we will. This way, he can play as much poker as he wants with his money and I can but as many scrapbooking-supplies-that-I-have-no-time-to-do-anything-with-as-I-want! It also helps us to have a stash to purchase surprises for birthdays and anniversaries.

    Flag as inappropriate Posted by Tiff on 5th June 2008

  • When we first got married everything was separate. We even had separate banks. We could never agree on a budget. But, we realized this was not the way God had intended it for married couples as it served to "prevent the two from truly becoming one" in God's eyes. We had to work very hard over a period of a year and a half b/c our united goal was to become better Christians and to do God's will. We got help and developed a financial spread sheet which helped us to recognize patterns in spending and savings. We could see what methods were working and what wasn't.

    My husband realized I was the better saver and budgeter. He finally conceeded as we realized we're both "power and control" freaks and that didn't serve our Christian purpose either. So, we let the changes occur naturally and we finally consolidated everything and paired down to a joint account.

    God truly blessed b/c we were able to pay down our debt, refinance, and do alot of wonderful things in our home that we couldn't before because we were constantly divided.

    Although separate works for some people - it's usually b/c one or more parties refuse to relinquish control over spending or saving. I don't judge that, but I know very well the consequences behind that and it hurts the family or marriage in the long run - not to mention it prevents you from becoming one flesh in God's eyes and that's not living up to the true covenant of marriage.

    Flag as inappropriate Posted by caramelsugarberry38 on 5th June 2008

  • After 8 years we finally opened a joint account.

    Flag as inappropriate Posted by on 5th June 2008

  • We had everything joint, but as we are both control freaks, that did not work out all that well. We have everything separately, and we split up the bills evenly so he pays some and I pay some. It's working out much better for both of us.

    Flag as inappropriate Posted by Niki D on 4th June 2008

  • We each have our checking and savings account and one joint account we call the "family account". It makes it easier to track whose spending what.

    Flag as inappropriate Posted by CiCi Ross on 3rd June 2008

  • Michele - we currently do the same thing, but are thinking of taking it old school and just have one joint account for bills and just do a CASH (crazy) 'allowance' for everything else. Seems someone can't stick to a budget... lol and I am tired of paying the overage fees of $35 for a $2 purchase... grrrr

    Flag as inappropriate Posted by Kate on 2nd June 2008

  • Separate. Completely.

    Flag as inappropriate Posted by Lylah M. Alphonse on 2nd June 2008