Bree

How do you and your spouse/partner/significant other handle your finances? Joint bank accounts and credit cards? Hidden funds ("mad-money" as my mum called it)?

AquaVita

I control most of the money in our relationship. Now don't freak out, ladies.

By control I mean keep track of and try and manage, allthough she has taken over more of this in recent times. We have joint accounts that we both have access to, whenever it's needed. We each have checks and a check card etc. She has her own special savings account for a car she's saving up for...but that's about it for independant stuff. When we first did this, we always had to tell each other whenever we spent money, because we never knew how much we could spend or have, and it became a hassle. Once we learned each other's spending habbits though, things got much easier.

We have found that it's just more simple to have everything joined as far as money goes, unless it's for something of personal gain, and to keep easier track of how much has been saved, such as the car she wants.

Oh and also...two people spending from the same accounts becomes much easier if you have online banking. To be able to keep real time track of our finances is what makes this work as easily as it does.

HaysooChreesto!

In two days, I'm all caught up. Everything's cleared and I'm back in black come Tuesday.

I do all our bills. I love my wife but it still boggles my mind at how truly bad she is with a buck. The weird thing is, she is so much more organized than me in nearly every aspect of existence.
Not that I'm good with a buck, but prioritizing is simple. Pay the house, cars, insurance, and anything else you finance first and make the utilities wait. The Gas Company will cut you some slack, but if you're late in a credit card there's late fees and they may raise your interest rate.

Anyway, my wife and I have seperate checking and savings accounts. With her being a stay at home mom now and me being the sole earner, there's no room for error. We ran into a lot of overdraft fees when we had joint bank accounts because I'd take out $40.00 and forget to tell her, or she'd have to go to the store for something and not tell me. Nothing makes for good marital conflict like a bounced check!
It just works better having seperate accounts. I always know what's coming in and going out and she just has to worry about the spending, grocery and kids clothes/miscellaneous money. It's much more efficient.

Marduk

I handle ALL the finances, my dog & bird don't know squat about investing. Milk Bones!? BUY!!

christ-on-a-stick

My husband and I have a joint checking account which both of our paychecks are direct-deposited into, and a joint savings account. In addition, we both have our "own" savings accounts for "mad money" - basically if he works extra shifts he'll put the $ in there along with birthday/xmas cash from his family etc., to buy his "toys" (mostly electronics) etc. All of the money from my part-time work goes into mine, although I just used a big chunk of it to buy my MINI.

We don't have any joint credit cards since we both have the ones from before we were together but we pay them out of our joint checking account.

I handle all the bills, balancing the checkbook etc. For a while after we got married it was frustrating because he would forget to tell me when he stopped at the ATM or used the checkcard for something and I could never keep the checkbook balanced.

SOLUTION: There's a little basket on the dresser by where he puts his wallet, keys etc. when he undresses, and each day he just puts whatever receipts he has in the basket. When I need to balance the checkbook I just grab all the new receipts. It has worked perfectly for the past several years.

frostymama

My husband handles the finances. Both of our names are on just about everything and we consult each other on purchases above $20.. but he handles the money for the most part. I don't work outside the home and I can't drive (for health reasons) so I just don't really have a need for large amounts of cash.

Ab_Normal

Mr. Ab and I have joint checking and savings accounts. We take turns being in charge (Chancellor of the Exchequer is the official job title) depending on who feels like handling the financial brinksmanship. We only have one checkbook, and try to be diligent about recording all ATM transactions. (Got bit by that one in our first year of marriage - that taught us.)

Right now, because our bank sucks (U.S. Bank, we're just too lazy to change) I don't have a debit card, and haven't had one for almost two years. I used to get an allowance of $40/month for spending money at work, but that went away when our finances got really bad. I think it helped my diet a lot (darn vending machines). But sometimes I get a little irrational about it. "Honey, I never get to spend any money!"

butswana

I am the iron fisted over lord. Mwahahahaha. We have separate bank accounts. House is in both names. Cars in mine. My wife stays home with the kids.
She CANNOT manage money. Odd, as she was an accountant.
I take care of every thing(gas her car, charge the cell phone). I would not trust her with my money. I deposit $100 in her bank account every two weeks, as well as hand her small amounts of cash now and again.
When we first hooked up she would get paid on Friday and usually be broke by Monday afternoon. Most of the time she didn't make it to the bank.
My sons' pre-school sold poinsetias. My wifes sisted sold a shit load of them. She had collected over $300 in cash. She gave it to my wife and she spent it.
During the holidays, she started getting NSF notices in the mail. I checked Quicken. She had not managed her bank account since March 2002.

Viti

Hubby handles all bills and accounts...I do not do well with that sort of thing.

I have a debit card, checkbook, and one credit card that is mine alone. I simply have to let him know when I spend so he can keep the books accurate and usually discuss major purchases beforehand.

wildernesse

We have a joint savings and checking account. I also have a savings account, but it's leftover from pre-marriage days and I haven't been by to cancel it yet.

Rufus does all the balancing stuff on his computer/Quicken, and I'm not sure how that's going. (We always have money, so I don't complain.) I pay the bills though, because one month they laid around for a week after they were due. He didn't think about looking for them! AAhhh!! We're still working things out--iow, I want to balance the freaking checkbook!

I'm a real control freak, so I wish I had complete control over the accounting part of things. I don't care how much he spends, because we don't spend a lot. I always worry that I won't have anything to show for my money--and so I keep it. That's left over from making just enough money to pay all of my bills and eat--so I wouldn't have to ask for help from my parents.

If there's one thing that I do hate, it's direct deposit. I like to have my check in my hand, take it to the bank and split it up into savings/checking. Now, it just goes to the bank, and I don't think about it. bleh.

--tibac