OT - Handling Finances As A Couple

Wife and I were together since we were young so maybe its different. 
1 account everything shared. 
My wife is the breadwinner and has never once said ,my , mine or did you ask me for .
Few individual cards, some combined.
I like BBQ and some other toys, she likes clothes. 

Good luck

Option 2- everything joined

oldgeezeystax said:

@DoubleEgger
That's sound advice.  I'm not going to do anything drastic based solely on the information I garner here, I'm just looking for some discussion.  Overall, I've been good with managing my money to this point in my life but would like to be a little more calculated going forward.

Fair enough. To answer your question, we've always been separate. We are open about what we do and all of our goals are being met so I don't need to know every dime she spends and vice versa. She thinks the stuff I buy is crap and I think the same about her stuff. A little ignorance is bliss as long the big picture is being taken care of. 

I have been married for almost 24 years. We have a joint savings and checking account. I have a credit card and she has a couple of credit cards. 

All of the money goes into one pot for paying bills. We talk about splurges etc, like @SkinnyV said he likes BBQ and other toys and his wife likes clothes. 

That sounds a lot like us. I think the key is communication. Maybe I am old school, but I have never liked the idea of this is "my money" and this is "your money". I may work for some, but not for me.

SkinnyV said:

This topic may be like other topics and strike a nerve as we all do things different. Guys in the combined camp versus the seperates.... Tread lightly

Don't worry. This thread will get hijacked before the second page and we'll be talking about March Madness or @Ozzie_Isaac 's well endowed bikini chick. 

While I handle the finances my wife is the bread winner.  We have been married for 6 years and everything is joint.  I use mint to help with budgeting and viewing everything in one place.  She has access to all of the accounts and she knows it but doesn't care.  We believe that we get to share in both our hard work whether that is buying a new pair of shoes or building a new house.  It's all ours.

I have to agree that a BBQ forum is not the best place to discuss finance. But since you asked, my wife and I, going on 38 years now have always had just one account. However, your spouse has student debt. I believe that in some states, situations, a joint account is liable for debts incurred before the marriage. You might want to run that by a professional finance counselor. If you folks run into a rough patch, it might be nice to have an account that remains undrained.

I think the more important issue is knowing each other's views on money itself and how it is used for your family. if one is a saver and one is a slender that is a bigger issue. I agree w hiring a financial planner and set some mutual goals. 
My own personal opinion (as the higher earner in my family) is to get a joint account that is used to pay household bills that each partner agrees to contribute to each month. The rest can be for savings and a separate account that you each have access to. 

Being Un Married for many years, the best financial advice is that is always better to rent something that depreciates so rapidly.........To be truly married you must share in everything, there is no hers and mine monies...It is not what you make, but what you spend-- Be Debt Free- I am and love it

As a husband to a wife on year 13 of maternity leave, you can guess our camp pretty easily. 

We went joint acct   (been married 2x)   Money didn't breakup the marriage to wifey 1  btw...  The first one  sorta went "free range" )  Ah well.....

I like joint money  IF  IF  you guys will communicate with each other,  agree on big purchases (define that term big)  etc.

My wife would never care if I spent modest money  x or y  here & there   but since SHE does the bills,  I shouldn't/wouldn't  be dropping several hundred at Ceramic Grill without a chat & a plan.  Else I'd  screw up  her ability to keep da lights on

Same goes with other hobbies like guns...  I got HER shooting  now she's as bad as I am about  toy purchases   but we DISCUSS em.     It's not a man card issue,  it's a mutual respect/trust issue  IMHO     If you don't  go all "I'm da man" on her  & she doesn't Nag ur backside,   it usually works quite well :-)

Been married going on 7 yrs and this works well for us.
All money and deposits go into joint account.  We pay all bills, groceries, entertainment, etc out of that account. We each keep separate accounts as well. Each month we pay each ourselves (for living with each other!) x amount to spend how we wish. I am a hoarder (although with the EGG my stash has come down dramatically) and she always likes to look nice (burns money).  It allows us to use the money as we wish. She doesn't b*tch to me about my spending and I don't say anything to her except "DAYUM you look good".

also another benefit is that during the holidays we set an amount that we spend on each other and transfer that amount to both of us. Keeps the mystery in the gifts. 

One thing is to communicate constantly and always stick by the rules set in how money is used or budgeted. If the rules are broken what good are they except to help you go broke. 

Also my own personal opinion but I would stay away from credit cards. More or less just like another thread on Rich Dad Poor Dad or Dave Ramsey. Credit cards get more people into trouble and such a waste (interest rate) unless you pay off each month. 

We always feel better running off of straight cash. Staying within our means...

Boy  I wish  I had never let credit cards  dominate me as they did...  EGGcellent advice Eggerty   (I could be retired in Maui  eggin away  )