I'm a tightwad. I hate to shop. He's a spender who likes to shop. When he offers to help by going grocery shopping, I won't let him because he will spend too much. (Especially when he is hungry. :lol2:)

 

No separate accounts, all shared. That would just be weird. :lol2:

 

Interesting thing is that my daughter has turned into me, the tightwad. While my 2 older boys love to shop and spend.

To save lots of arguments. We both have worked at extra jobs to have some things we think we need/want....we just don't see eye to eye on what these things are. Me , I spend my extra money on the house, yard and garden, him, taking trips to fish and golf. He is gone right now to Canada on a fishing and golf trip. With separate accounts we never argue about money.....it really has worked well for us.

 

Thanks. For those that subscribe to this method does it mean you can pretty much do anything you want with money that's in your account? Don't have to check with the significant other? No discussion?

Opposites. I'm a saver/planner, she's a spender. :lol2:

 

She lets me handle the financial stuff though, so it seems to work out well.

 

We each have separate accounts and a joint account. Direct deposit a small % of each of our paychecks into the individual accounts, and the majority into the joint account. What's in our individual accounts is each of ours to spend however we want. Any expenditures from the joint account have to have the others blessing. (Obviously excluding things like food, bills, etc.)

Thanks. For those that subscribe to this method does it mean you can pretty much do anything you want with money that's in your account? Don't have to check with the significant other? No discussion?

 

For us pretty much. If we are going to purchase a big item, then we will discuss it.

Thanks. For those that subscribe to this method does it mean you can pretty much do anything you want with money that's in your account? Don't have to check with the significant other? No discussion?

 

My wife and I do the same exact thing. We both know what were responsible for. We do have investments together but our personal accounts we manage alone. We both have access to each others though. I have found it to work quite well, we still have to bring in the house what we buy, so it seems like we take turns spending money to make it equal when we spend lol.

My wife and I do the same exact thing. We both know what were responsible for. We do have investments together but our personal accounts we manage alone. We both have access to each others though. I have found it to work quite well, we still have to bring in the house what we buy, so it seems like we take turns spending money to make it equal when we spend lol.

 

Same here. It really works for us. My sister and her husband tired it for 2 months and she was begging him to have the joint accounts again....:lol2:. Didn't work for them.

Although, no longer married, I am looking for a wealthy replacement. Elderly and in poor health moves you right to the top of the list!

Although, no longer married, I am looking for a wealthy replacement. Elderly and in poor health moves you right to the top of the list!

 

:lol2:

Although, no longer married, I am looking for a wealthy replacement. Elderly and in poor health moves you right to the top of the list!

 

And see if she has a sister.

To save lots of arguments. We both have worked at extra jobs to have some things we think we need/want....we just don't see eye to eye on what these things are. Me ' date=' I spend my extra money on the house, yard and garden, him, taking trips to fish and golf. He is gone right now to Canada on a fishing and golf trip. With separate accounts we never argue about money.....it really has worked well for us.[/quote']

 

 

I love it Goldie

Opposites. I'm a saver/planner' date=' she's a spender. :lol2: She lets me handle the financial stuff though, so it seems to work out well. We each have separate accounts and a joint account. Direct deposit a small % of each of our paychecks into the individual accounts, and the majority into the joint account. What's in our individual accounts is each of ours to spend however we want. Any expenditures from the joint account have to have the others blessing. (Obviously excluding things like food, bills, etc.)[/quote']

 

Interesting, I like that approach for two young professionals.

We sat together soon after moving in together and worked out a budget. A couple of things to note, I make quite a bit more than her and she has teenagers. We also don't have any joint checking accounts.

 

1. I take care of all the house-related costs including the bills.

 

2. She buys our groceries, toiletries, regular needs.

 

3. We both take care of our own cell phones as we had existing plans when we got together. Decent chance she gets on my personal plan eventually as I get a work discount in addition to my company-provided phone.

 

4. She pays her car insurance, gas, and car payment. She also keeps the spare vehicle (she owned outright before we got together) on her insurance as it's paid for and the insurance costs are virtually nothing. My car is paid for and I take care of my insurance and virtually non-existent gas costs.

 

5. We each have a designated amount that goes into each of our savings accounts:

A) emergency fund

B) retirement accounts (401K for both and employee stock for me)

C) Vacation fund

D) We each have our own racing accounts. Anything race-related, equipment, etc comes from this. These are actually checking accounts but we treat them as savings. If it's a race we our both doing we split it. If only one is doing it, that person is responsible.

E) Kids savings for her.

 

6. I take care of my personal trainer and our joint gym membership.

 

7. I take care of all the costs associated with Simba. The other pet costs (turtles and a beardie) are pretty nominal and we just kind of alternate. Not much structure with them.

 

8. After this is done the rest of the money goes into our separate checking accounts and we are free to do with how we please.

 

It's a little complicated but it's worked quite well for us. If we want to make a big purchase (landscaping and basement remodel are two we have done since getting together) we plan it out and decide how much we can contribute, how long we need to save, and the costs of the purchase(s). The only changes I see in the foreseeable future is that she REALLY wants me to get a new car and I have a feeling a wedding savings account will happen at some point (it was brought up when we recently budgeted out her car purchase).

I do all the finances because she doesn't want to. We both pretty much get what we want. We decide what we want to spend it on and go from there. We discuss big items such as vacations and how much we want to spend, same for big stuff like replacement furniture, expensive clothes for our jobs, etc. When the account gets to the level where I think we should be more frugal, I tell her and she controls her spending, as well as I.

 

I handle all the investments.

 

Basically she wants some weekly spending $$ and I give it to her and she is happy and I take the same amount for me in cash. This is ask no questions $$. I usually buy golf stuff or Bengals stuff, she buys clothes, nails done, etc. I will say we are very fortunate, though. We have more than we really need to get by. We worked our butts off to get to this point, though.

 

We hardly ever argue about finances. She honestly has no idea how much $$ we have at any time. I would tell her but she just says do we have money, I say yes and she moves on.

 

I will also say we could have a lot more money if we really tried to be frugal, but we like living the lifestyle we have and should be able to for a long time.

I make it. She spends it. That opposite enough? :banana: