Ask HN: How do you structure your shared finances with your spouse/partner

In my first marriage we combined our finances, at my wife&#x27;s insistence. This was simple in that we had only one account, but complex in that we had to negotiate over spending in a tedious fine-grained way. Our priorities and risk tolerances differed greatly; I felt like my wife ended up with all the money, while I ended up with all the responsibility. Unable to resolve this (or any other) conflict peacefully, our partnership foundered.<p>In my second marriage we kept separate accounts, at my insistence, having learned an incomplete lesson from the first. We divided shared expenses in proportion to our respective incomes, otherwise managing our own affairs. This was simple in that we rarely had to talk about money, but as my income grew, while her career (and mental health) deteriorated, it became awkwardly lopsided; resentments accumulated. Again, being unable to resolve our conflicts peacefully, the marriage failed.<p>In my third marriage we have both individual and shared accounts, for administrative convenience, though we tend to think of everything we are doing as a joint effort. We have structured our flows of income and expense differently at different times, depending on our circumstances, and we check in every couple of months to make adjustments as needed. This works - and I believe it will continue to work - because we consistently keep each other&#x27;s interests at heart and resolve our conflicts in a way which draws us closer together.<p>In summary, I believe that the details of your financial structure are less important than the process of communication and accommodation you establish around it. There&#x27;s no single right answer, and the right-now answer might not work so well next year. What matters is that you include a periodic check-in about financial state as part of your ongoing expression of care for your partner&#x27;s well-being, that you maintain flexibility and willingness to adapt as your life changes, and - most of all - that you resolve your differences in a way which leaves you feeling like a team.

All money in joint accounts.<p>We are always each other&#x27;s beneficiary.<p>I make enough that we don&#x27;t have to think about small-medium purchases too much.<p>We are frugal in the big areas (e.g. 16yo Honda Civic).<p>But we do periodic spending temperature checks and as we have gotten older, we have become more mindful of that. Leisure spending over like a hundred or so we always tell each other about it beforehand and try to sleep on it.<p>I have a spreadsheet where I track weekly account balances + all activity on the main checking account (we rarely pay directly from it, so it&#x27;s mostly bulk payments for credit cards or bills. Useful for predicting future balances so we can know how much to safely transfer to savings&#x2F;investments.) On the activity sheet, I annotate each credit card statement with anything &quot;exceptional&quot; or above $250 or so.

All money is our money, and our number one financial priority is our child. We are both on the same page on this.

We don&#x27;t have any form of combined finances, each of us deposits our money directly into our own private bank accounts and has our own credit cards. While we, in theory, have access to each other&#x27;s accounts for the purpose of survivorship; in practice we would never use that access and would consider it a violation of our relationship agreement should a partner chose to use that access.<p>We split bills though. I take large expenses, like rent and insurance and they take smaller expenses like groceries and dining out. At the start of the year we do a budget of what we project expenses to be based on the prior year (usually takes an hour or so because we both keep good financial records). We then divide that down into a monthly payment such that we&#x27;re each contributing 50% of our living expenses and they transfer money to me monthly since I&#x27;m paying the larger share of the bills. At the end of the year when we budget for the next year we reconcile any differences between budget and reality so that we do in-fact each pay 50% of the living expenses (sometimes this means I give them money, sometimes they give me money). For really large one-off expenses we nominate a partner to take on that expense and the other transfers their share of the money for that expense to the partner taking on the expense. Same story for vacations or trips except we settle that after the fact not before.<p>It&#x27;s basically made money a non-issue in our relationship. Their money is theirs and my money is mine, what we chose to do with it is up to us so long as we&#x27;re contributing our fair share of the living expenses.<p>Edit: since others are saying this, our relationship is very close and we consider ourselves to be a team but we very explicitly decided when forming our relationship to not have combined finances even though we cohabitate because we had observed that to be a deep point of contention in relationships around us.

Two young professionals, no kids.<p>We each have our own bank account(s) and credit cards and our own budget in YNAB. I manage both budgets but only do hers when she’s present.<p>We agreed on what constitutes a shared expense ahead of time (mortgage, utilities, etc) and split them based on what percentage of last month’s household income (post-tax) each of us earned. This is variable since we both do some contracting&#x2F;consulting outside of our day jobs.<p>For going out, vacations, shared groceries, etc., we just split things as we go. We have a joint savings account that we put the same amount of money in each month and use for travel etc.<p>A friend and his girlfriend have a joint credit card that they put all shared expenses on and split at the end of each month, but managing that in YNAB is not the smoothest so we haven’t done that yet. Might write some software to make it easier.

It’s not perfect, but I’m a strong believer in separate checking accounts at the same bank<p>For large items we’ll transfer back and forth as needed and one person makes the payment.<p>My partner and I have very different spending habits, and seeing that line-by-line would cause daily friction.<p>Having them separated gives us both discretion and autonomy.

Like a bunch of folks are saying, the most important thing is that you are both on the same page regardless of what you choose.<p>As far as all joint accounts vs having individual accounts, I think if has to do with how you view marriage. Is it a single whole, or is it a joined pair of individuals.<p>For me personally, I view my wife and I as single team. Everything is joint (outside of a few super old accounts like other have mentioned). My income is our income. Her income is our income. The fact that I make more is irrelevant to our spending habits.<p>To me, having separate individual accounts, feels like you aren&#x27;t committing fully to marriage and are keeping your money yours &quot;just in case.&quot; If you are already feeling like you need a &quot;just in case,&quot; why are you get married to begin with. I feel like separate accounts based on the income disparity would most likely lead to feelings of imbalance and resentment down the line.<p>I am sure there are a huge number of my biases implicit here, and there are plenty of reasonable conversations to have either way. People obviously make it work in all types of ways, so like I (and many others here have) mentioned getting on the same page is really the core of it.

All money in joint accounts. We&#x27;ve agreed on an amount of money that is a &quot;large&quot; purchase; anything below that amount and either of us can just spend money without consulting the other. We talk to each other before buying anything expensive. Each of us maintains one individual credit card; this lets us buy gifts or surprises without the other seeing what was purchased. We do maintain separate HSA&#x27;s (because for us it&#x27;s advantageous for each of us to have individual health insurance from our employer), and we maintain separate 401k&#x27;s (because that&#x27;s how 401k&#x27;s work).<p>Different things work for different people. I&#x27;ve known other couples who put most of their income into a joint account, but each person is given a monthly &quot;allowance&quot; that&#x27;s auto-transferred to individual accounts. That lets each person have some discretionary money that&#x27;s just theirs, and it can be saved or spent as they see fit.

We have a hybrid solution: A joint checking &amp; savings pair (+ credit card) into which paychecks are deposited and against which living expenses (mortgage, food, etc), are drawn; and personal checking &amp; savings accts with monthly transfers from the joint accts. The personal accounts are our &#x27;fun money&#x27;, and don&#x27;t get much - they mostly exist to offload the actual bookkeeping of the discretionary spending to the bank, since they cost us nothing to administer except an extra card in the wallet.<p>We set it up this way because I take home more than her, and I was tired of arguing with my wife that she should feel free to spend some of &#x27;my&#x27; money, or that &#x27;me&#x27; buying her something with &#x27;my money&#x27; was not a gift per se, but an acknowledgement of the futility of her trying to maintain &#x27;her half&#x27; of our lifestyle on her paycheck alone while also kicking in to the house. Abstracting all that into a shared fund we both draw on brought psychic peace. Money&#x27;s fungible and all, but at the end of the day it does feel a lot better when it&#x27;s not &quot;I pay the mortgage, you buy the food, my savings grow, yours don&#x27;t&quot;. Now the money doesn&#x27;t feel like manna.<p>If your incomes are homogenous this is probably too much effort, but to be clear that effort was mostly just 3x as long at the bank once, to get the accounts set up.<p>I should add I only won that argument when we had a baby and our &#x27;shared&#x27; expenses skyrocketed. Before that she was fully committed to separate finances and a constant, low-grade sense of shame &amp; indigence.

Congratulations!<p>Finances are a common source of strife in marriages. Getting and staying on the same page is critical. Communicate about finances openly and often. Budget together. Review the budget together regularly. It sounds like you are already starting this. That is a good sign. Never stop.<p>As far as your specific question: I&#x27;d recommend joint for day to day and emergency fund. While its simpler, the main reason is mental: its not my money and your money, its our money. We do keep investments separate, but its still &quot;ours&quot;.<p>That is just a recommendation though. Its more important that you both talk about and agree on your approach.

We have a joint checking account. I automatically draw our investments to our joint Fidelity account.<p>I try to keep a balance of $50k in our checking account (it&#x27;s a minimum that our bank sets to give us perks and a free safety deposit box). At the end of the month, if we over that, my partner knows that we can splurge on dining, vacations, or other stuff. If we are under that, we tighten our spending for a bit until we are back over it.<p>I tried all sorts of budgeting and tracking ideas, but most just weren&#x27;t worth the effort.

It doesn&#x27;t really matter how you do it as much as how you talk about it. Like most aspects of a healthy relationship, communication is key.<p>State law is really important if the relationship fails and you need to split commingled assets. If that&#x27;s something you&#x27;re worried about you should speak to an attorney.<p>To directly answer your question, we both direct deposit into a joint checking account. We spend on cash back credit cards that are auto paid out of the joint checking account each month. Mortgage and car note are out of the joint account. We both maintain access to small spending personal accounts&#x2F;cards on the side for gifts and misc. stuff we don&#x27;t want to discuss.<p>When the checking account gets over our healthy buffer of ~2-3 months spending, we sweep the extra to a taxable brokerage account and invest it in index funds.<p>We &quot;pay ourselves first&quot; with prediscussed, significant, automatic contributions to retirement savings, college funds for kids, or any key milestones like down payments or big vacations. that way any money that stays in the checking account or misc accounts are relatively guilt free and discretionary.<p>Of all of the things that I mentioned, contributing to retirement and big milestones before we can &quot;touch&quot; the money has been the most important for our peace of mind. we don&#x27;t fight over money because we&#x27;ve already aligned on the big stuff.

- Both in our early 30s, no kids.<p>- Our salary goes to our individual savings accounts.<p>- A shared checkings account gets topped up to $5000 every month, proportionally to both of our salaries, to optimize for equal purchasing power when buying shared stuff.<p>- We don&#x27;t really budget anything because we save quite a bit, but we do classify all bank transactions into a few categories and look at a month-by-month matrix every few months.<p>- Both the topping up and generating the analytics are automated processes, so it&#x27;s pretty headache-free.

Mostly separate finances: individual checking accounts, individual savings accounts, individual credit cards...and one shared savings account. I&#x27;m the only one with a paycheck but my wife gets paid a set amount into her checking account every other week. Bonuses get split between us 3 ways usually...between each savings account we have. I take care of all bills except her credit cards.

It depends on what you mean by &quot;simplicity&quot;.<p>Combining your finances completely is as simple as you get. Money goes in pot, money comes out of pot. No separation.<p>But anything that gets to be a significant amount becomes a discussion. Things are no longer simple.<p>A joint account for joint expenses and personal accounts for personal expenses is also &quot;simple&quot;. But how much does each person contribute? Are the personal accounts unquestioned?<p>The thing here is that there is no &quot;simple&quot;. You&#x27;re dealing with people, people are inherently complex. You know you. You know your fiance. Make a plan that accounts for those two people and all of their peculiarities.<p>It could be that it would be best for you to have 10 accounts. A house account, a grocery account, a clothes account, etc. because you need to be aware of how much you spend on food and what not. I don&#x27;t know. You&#x27;re going to get a lot of answers here and some of them may help guide you, but make sure any plan you come up involves your fiance and they are completely on board.

While not in the US, I think this can work everywhere.<p>We have one account, where salaries are deposited. This also doubles as a savings account, and the account from which all none-debit card payments are made. There is no debit cards associated with this account.<p>Then we have a personal account each. These get a fixed amount transferred to them each month, if that isn&#x27;t enough we&#x27;ll manually transfer whatever is needed from the joint account. We have a debit card each for our personal account, but not each others. This is mainly so we can get each other gifts without revealing what it might be. It also seems a little abusive to be able to keep taps on your partners spending.<p>We might need an actual savings plan in the future, but probably won&#x27;t be needed until the house is renovated.<p>Once we moved in together everything financial became &quot;ours&quot;. There is no point where one of us can be in financial troubles alone. It helps that we&#x27;ve always had more or less the same view on how finances should be managed.

Tynan recently shared how he manages finances with his wife, plus the rationale:<p>&gt; We keep our finances mostly separate. The primary reason is we both have enough that we don’t need the other’s money, and we both like having the freedom to buy whatever we want. I don’t want to ask when I’m buying pinball machines or random stuff for my next project, and she doesn’t want to ask me when she goes shopping or sends money to family members. We both invested enough money to cover house expenses and the interest goes into a joint account that pays the bills every month. Of course if she needed some of my money for some reason she’d be welcome to it, and vice versa, so it’s more like we have combined finances that we manage separately.<p>Source: <a href="https:&#x2F;&#x2F;tynan.com&#x2F;having-a-good-marriage&#x2F;" rel="nofollow">https:&#x2F;&#x2F;tynan.com&#x2F;having-a-good-marriage&#x2F;</a>

Joint account. Though, we’ve ended up with a “discretionary” budget for each of us. We made sure that it was sufficient that we could both do things we wanted.<p>This has largely solved any money quips between us.<p>* Large purchases are always shared, planned, and discussed.<p>* Day to day expenses end up wherever. It doesn’t really matter as they’re largely consistent each month. This includes utilities, bills, groceries, basic clothes, vehicles, etc.<p>* Unpredictable expenses get discussed, but that’s about it.<p>* Discretionary is no questions asked. This is where our hobbies, individual activities, and personal spending preferences come in. I largely use it to fund hobbies and eat lunches out. My wife used it for hobby classes and splurges on clothes likes. No questions asked I. This category, so there’s no guilt and no second guessing each other.

Whatever you decide, its important that the spouse is really, actually OK with it and understands it. Its nice to have one partner take care of &quot;money stuff&quot; but it&#x27;s also nice to know you are able to do things independently of them if you need to. This is why most of our finances are shared, but we each have a separate account that we keep relatively well-funded that the other has no access to. I don&#x27;t think either of us uses these except to check the balance, but if either of us suddenly needed to, say, buy airline tickets to get out of town in a hurry, we wouldn&#x27;t need the permission of the other. We obviously also have our own 401ks.<p>I think this peace of mind keeps decisions about joint assets less contentious.

Joint checking, joint investments, joint credit cards. A couple inherited accounts that we kept in their individual name. We don&#x27;t worry about it.

We put all of our earnings in a joint accounts that require both signatures for any very large withdraw. Off that we pull out “petty cash” type accounts for day to day expenses, hobbies, lunch. Bills&#x2F;mortgage&#x2F;etc are paid out of the joint account. We both make good salaries, but mine is roughly 2x hers but we don’t make anything out of that. We sit down together and talk out investments&#x2F;retirement together and all that is jointly owned of course. We both have some land and “family” money that stays separate from our marital assets but everything after marriage we have shared equally and I consider that fair. It works out pretty well.

I have a wife and 2 pre teens at home.<p>All of our fixed costs are shared in a way to promote an equal amount per month per person. For example, I pay my daughter school&#x27;s tuition and my wife pays of my son&#x27;s. I pay Netflix, she pays Prime Video, so on and so forth.<p>For market and groceries, we have a credit card account with two cards. This was a game changer for our home expenses management. I have the total spent per month on a spreadsheet and can see how things are going, especially in regards to inflation, currently at 19%&#x2F;y where I live.<p>Everything else like going out with friends, small indulgencies, fuel etc. each one of us would cover his&#x2F;her own expenses.

When I got married we ended up merging her acct (same brick and mortar bank) into mine and adding her on the acct along with opening a savings account . Nowadays we also have accounts with online banks that have high yield savings and part of our checks go into both banks. The online bank savings accounts has different “silos” that can be setup for various purposes soI transfer money into each of these monthly. My wife and I don’t do individual wants&#x2F;splurges silos but this is a great place to save individually while still getting high interest.

We have a common account, each month we pay the same amount into it, we pay shared expenses (bills, food, etc) from this account. We have separate savings and spending accounts, with an agreement that we each save a certain amount each month. Things we personally want goes out of our private accounts. Things we agree we want goes out of the shared account. This is reasonable, fair and easy for us because our salaries are similar, but I can see how it might not be a comfortable arrangement if there is a big difference.<p>We both have two cards, one for the shared, one for the private.<p>If I buy a bunch of snacks, it goes on the private card. If I buy food, the shared.<p>In the end, I go to work to provide for my family and myself, and I want to be able to buy stupid shit without feeling guilty, I need this to feel things are fair, I&#x27;m going to work, I want to reap something from it. I want and need these fixed agreements so that I can save up (on my spending account) for something and buy it without feeling guilty, and know my wife can do the same. (no, decorative pillows are not a shared expense, just like the hifi is not, sure, I move the pillows to get to the couch, and she has to put up with the loud music, but those are not shared expenses, because it&#x27;s both something the other person would be fine without).

I didn&#x27;t see anybody mention this, but one important thing is if you are &#x2F; will be living in a community property state.<p>If you live in a community property state, and you want to keep things legally separate, that takes a lot of specific effort. I&#x27;ve always lived in community property states, my spouse and I took relatively zero assets into the marriage, and we&#x27;re on the same page with spending and frugality, so I was 100% on board with joint accounts and delegated authority on the primary checking account. Keeping one checking account for two people is a labor savings. We ended up with separately managed credit cards, so if we make a big purchase on the other&#x27;s card, we communicate. And I manage the primary checking account, but she has custody of the checkbook; so if she one of her credit cards has a large payment or writes a big check, we communicate. If there&#x27;s any big changes in our investments, we communicate.<p>If you&#x27;re living close to your means, communication will be necessarily more frequent. If you&#x27;re living well below your means, you don&#x27;t need to talk frequently about money because a payment that needs pre-authorization isn&#x27;t as big.<p>For cars, it would probably be most flexible to have ownership as X or Y, but all of our cars are under my name at the moment because it was less effort. The house is in both of our names.

For context, as a newly married couple, we spend 80% of our time in Taiwan and 20% in Spain. My job pays the vast majority of our income. I’m Canadian&#x2F;British, and she’s Taiwanese.<p>The day after we legally married, I added her as a beneficiary to all my investment and retirement accounts.<p>In Europe, we keep Euros in one WISE account for which we both have a card.<p>Culturally, in Taiwan, there isn’t a joint checking account. However, she has the banking password and can transfer money. Banks also let her do whatever she wants with my account as long as she bring my bank stamp.<p>Also culturally, its important for women to have their own stash of money (私房錢 si fang qian) that’s a psychological safety net. She has that in her own account, it basically just sits there. It’s less then 3% of our net worth and makes her feel safe so I don’t mind.<p>Every week I take a look at what we spend and make sure we’re on track budget wise in YNAB. We pick our big savings goal together and pool the rest of our money together.<p>I highly recommend pooling everything together. It makes life a lot more convenient and keeps you both accountable to the goals you’ve set together. If one partner really needs some money saved on the side, that can work (works for us) but all paychecks going forward being pooled makes life simple.

Our finances are quite simple at this point. We both work but my income is higher than hers. We each maintain our own accounts and credit cards and generally pay for our own personal purchases. For shared things, we either split them proportionately or 50&#x2F;50 and one of us pays the bill and the other uses Cash App to reimburse for their portion. (We&#x27;re also new at this, having been married less than a year and our strategy may change in the future.)

Joint checking account, credit card for each of us with good rewards for all spending, YNAB for budgeting with a category for each of us for our discretionary spending.

Background:<p>I have terrible finances compared to her. I make more money on an hourly basis, but I&#x27;m not working full time right now, and I&#x27;ve always been quite financially irresponsible. She makes a little less per hour but has been super consistent with her job for decades and is very good at controlling her spending. She&#x27;s the very epitome of &quot;slow and steady wins the race&quot;, while I have spurts of high income followed by months of poverty.<p>How we split it all:<p>To protect her from my poor management, we have separate finances (accounts), but we split the rent and household bills evenly. I end up prepaying for most of it upfront, we use a spreadsheet to calculate what she owes, and she Venmos me her half at the start of every month.<p>For fun spending money, we both deposit the same amount into a joint account every month (we use Zeta, a virtual bank, which replaces what Simple used to offer). We both have a debit card that can charge to it directly, and we use it for joint outings, dinners, and other fun stuff. Sometimes I eat a bit more, sometimes she does, whatever, neither of us are worried about that.<p>And for less predictable shared expenses (groceries, pet vet visits, etc.), we have a separate credit card for that purpose only. We pay it off in full every month.<p>This three-way system has worked very well for us for 3+ years. The essentials are always taken care of first (via my automatic payments and her paying me half). We have a set entertainment budget every month. Then the joint credit card is only for our unexpected&#x2F;unpredictable spending on top of that, which isn&#x27;t very much (few hundred dollars a month).

Legally everything is shared, so from my perspective, might as well share everything. This shouldn&#x27;t seem weird if you are getting married, it&#x27;s the reality your are signing up for.<p>IANAL.<p>We do keep everything shared. Both of us strive to stick to our budget and have each other&#x27;s best interest at heart, so this makes it easier to manage the finances

Ours really depends on your definition of simplicity.<p>We have independent checking accounts (normally at the same bank), and credit cards. And then we have 10 or so joint savings or roboadvisor investment accounts – each one for a single purpose, buying a new car, family vacations, new furniture, major house repairs: the roofs need repainting. It is trivial for each of us to see what our progress is on any particular upcoming expense and adjust our donations to that account.<p>Day-to-day small expenses were divided amongst us fairly, based on income out to the start. But our incomes have changed a fair bit and they’ve been re-jigged a few times. Additionally, it became obvious that my wife was not great at paying bills that required checks in the mail (I know it’s 2024) so now all of those get paid by me and she sends me monthly top up payments when she gets to it.<p>——<p>This structure allows for us to have very different spending patterns on personal stuff and have aligned goals for big stuff. Different amounts can go to different goals, based both on income and interest in the goals, and progress is clear.<p>It has also allowed for us to deal with income changes - We each have three jobs currently and one of mine only pays out one in five years, and none of mine pay a salary. Lumpy income can be hard to plan for, and the private accounts allow us to smooth some of this out.<p>Also for a while, she was a student and had negligible income, then we had similar incomes and now she makes more than I do, the joint accounts and small expense division help level this out over time.<p>Also, we can have either savings accounts or these days just ad hoc payments that allow for one person to do the chore (shopping, car repairs, writing checks) and another to pay for it.

It&#x27;s not super simple, but here&#x27;s how we did it for a long time:<p>All of your income that&#x27;s not invested for retirement goes to a joint account, every 1st of the month. From that joint account, you then move the money to many different accounts and&#x2F;or prepaid credit cards: - Day to day expenses, like groceries. - &quot;Irregularities&quot;: municipal taxes, school taxes, things that don&#x27;t happen every month, like car inspection, veterinary, vacation expenses. You add everything in a spreadsheet that you keep, and divide by 12. Add some padding. - Home improvements, aka &quot;IKEA&quot; account. Fixed amount every month. If it&#x27;s a good that you buy to add you our home (coffee machine, chair, curtain, etc.), that&#x27;s the account. If it&#x27;s a consumable (gas for the car), use &quot;day to day expenses&quot;. - Individual accounts: each one of you have an account that you decide what to do with. Buying clothes, hobby, etc. aka &quot;I&#x27;m an adult, I do what I want&quot;. - Kids: There&#x27;s always something to buy. Clothes, etc. - Automatic payments are taken from the main joint account, but you could also have another account if it makes it easier.<p>This method can get confusing and you may need to move money from one account to another one when the wrong card was used. But the main advantage is that it automatically budgets for you. You see the amount remaining for the month for everything. Otherwise, you may think that you still have plenty of money to spend on the grocery, so you buy a nice coffee machine, and then the mortgage and car payments happen and you&#x27;re left with nothing for the rest of the month to do the grocery.<p>The main goals we had when using this method were to never use a credit card (and lose track of how much money we have), and also accommodate for the discrepancy in our revenues at the time.

We have two joint checking accounts and three* joint credit card accounts, one of which is logically &quot;mine&quot; and one which is logically &quot;hers&quot; and we freely flow money between them on the rare occasions when it&#x27;s needed, but day-to-day we have clear single-user management (to avoid overdrafts, spot anomalies, etc.).<p>We have &quot;calibrated&quot; the direct deposit amounts to minimize the need to move money across the accounts. If money &quot;backs up&quot; in one or the other, we move it into investments, but month-to-month, practically everything is on autopilot.<p>I think that&#x27;s about as operationally simple as it gets, which was also a huge priority for us.<p>Savings and investments are all consolidated and jointly-owned wherever possible and I maintain a periodic (slightly more than quarterly) update of that manually by looking at the Vanguard, Etrade, Fidelity, etc accounts.<p>* The third credit card account is a Chase Amazon account for the better cash back on that card. It&#x27;s only used for Amazon, so it&#x27;s easier to spot anything unusual.

It will entirely on you two. In my first marriage, we were both high-earners, everything was joint. We were high enough earners and neither spendthrift, so there weren&#x27;t any needed discussions on spending&#x2F;budgeting, and having &quot;private&quot; pockets was just an artifact of us having different banks when we met. Direct deposit to a joint account, retirement maxed out, invested at my direction (because I was more interested). Worked great, but mostly because we had too much to ever need to fight over it.<p>Second marriage, complete opposite situation, I&#x27;m the high-earner, she&#x27;s a housewife (working on building her business, but let&#x27;s just say the income disparity is real). Finances are more complicated now since I&#x27;m a business owner and the bulk of our pre-marital assets are in my (or my companies) name, but at the end of the day, the card I use to buy things comes out of the same account as her caried rds. I do have more control over the flow from my firm to our joint bank account, but from a &quot;who&#x27;s money is it&quot; PoV - it&#x27;s our money, it was all earned since we were together (even though we hadn&#x27;t married yet); The joint account has enough to cover our next years expenses if something were to happen to me and she needed access to funds before whatever estate settlement happened.<p>There&#x27;s no one-size-fits-all approach I can tell you to use. What I can recommend though is that you jointly track all your accounts in some tracking app, and sit down once a quarter to discuss whether you are both on target w&#x2F;r&#x2F;t savings, retirement, whatever it is you&#x27;re earning for. As long as you both are on the same page, then you&#x27;re fighting together, not with each other. Money becomes tense when people feel entitled to it, or don&#x27;t understand your situation -- having both of your situations on the same page can help make sure your new toy or their new habit doesn&#x27;t become grounds for divorce.

We&#x27;re in a pretty different circumstance so this probably won&#x27;t be useful, but in our case, my wife has a bank account and I don&#x27;t. Our belief as fundamentalist Christians is that I as the man have final authority in the family, including over financial matters. I&#x27;m also the sole earner, but that wasn&#x27;t always the case.<p>We have very little money but it&#x27;s my sacred duty to always think of how I can care for the family as best as possible, and we&#x27;ve been very comfortable (even when we had basically no money). I&#x27;ve found that when I surrender to God&#x27;s power, things always turn out for the best. Even in times where it seemed to be a terrible idea, he always had something planned.<p>Whereas when I stubbornly insist on myself, everything se fracasa bien feo. So I guess my financial strategy is to dissipate my ego and melt into Christ&#x27;s mind. God is so cool.<p>Good luck OP, I hope your country&#x27;s election goes well for you guys!

It is good that you are already thinking about it. My wife and I have separate bank accounts but we operate as a single entity.<p>We are both completely aware of each other&#x27;s incomes and expenses (we maintain a common expense manager).<p>When we got married, there was an immense difference in our incomes (I earned 10x more than her), so we decided that I would bear all the expenses and she could save her income for her future business plans.<p>Since I left my job to focus full-time on my startup last year, our incomes have been almost equal. Now, I pay the rent and the bills, and she handles all other expenses (groceries, appliances, travel plans, gifting and other purchases).<p>We transfer money to each other&#x27;s accounts whenever there is a need (it&#x27;s mostly from her to mine). Transparency is the key to happiness here.

Seems like you have every combination of responses here!<p>We went with totally separate. I owned a house so no rent or mortgage, so I just paid the bills and she bought the food. I got paid more so it worked fine.<p>Mind you, I don&#x27;t really care about money other than having enough to do stuff so it might depend on your attitude.<p>We did split but it had nothing to do with money.

If you want simplicity, go for a joint checking and savings, if there&#x27;s a personal goal to be saved for by one of you, see if your bank offers &#x27;vaults&#x27; that we can squirrel money away until you can purchase the camera or car part or whatever it is. Keeping most things in one place generally maximizes simplicity.

One shared credit union account, with a checking, savings, and credit card account.<p>A spreadsheet that tracks periodic expenses - which produce an average monthly bill that we round up and split, each of us has an automated monthly deposit into the checking account, and the credit card automatically pays itself off from the same account. As many utilities as possible are auto paid by the credit card, the rest auto debit from the checking account. We keep about the checking balance at $1000 minimum to get a higher tier interest rate.<p>Additionally, we both drop $100 from each pay check into the savings account - so when we want to get or do something fun together, we have some extra sitting around.<p>At the end of every month, I sit down and draw up a little spending report for where our money has gone - and we either pat ourselves on the back, or grimace and resolve to be a little thriftier next month.

We have a joint daily account (called a &quot;current account&quot; in the UK, maybe a checking account in the US?). Both our income goes into that in full. We then have a few different types of savings which come out as soon as the income goes in. This is a more flexible &quot;easy access&quot; account, and more of an investment account. The investment account isn&#x27;t joint purely because of how the tax shielding for them work in the UK but we both have access to them.<p>The remaining amount in the daily account is used for bills, groceries, and such. We also have a budget in here for various social things like dinners out and such as we do a lot of these together.<p>We then have an individual checking account which we both take an equal monthly allowance for discretionary spending. This is also how we buy gifts for each other for birthdays and Christmas.

We pay all of our salary in to a joint account. We then take back a small amount for our own spending that month. We put money for bills into one joint account, we leave money for our budgeted cash spending in the main joint account (groceries etc) we put money into some pots for mid length saving (car service, holiday&#x2F;travel, annual insurances etc) and then the remainder goes into a mix of long term cash savings and long term investments. Takes me about 20 minutes on the last day of the month to make the relevant money movements.<p>The amount we keep back for ourselves is laughably small as we view our money as our joint money as we are building our life together. We don’t (and never have) earned the same amount, at times wildly different in fact.<p>We’ve done it like this for over 15 years and works for us.

I pay everything, give her my card and she takes care of house&#x2F;kid, mostly.<p>If I die then I don&#x27;t know, I think she&#x27;d move back to her parents and sell our apartment and she could live for a few years. She&#x27;s a lawyer but currently isn&#x27;t very active. But I know she misses it...

My wife and I direct deposit the first 90% of our paychecks to a shared savings account. Our family&#x27;s living expenses are transferred from there to a shared checking account on the first of each month.<p>The other 10% goes into our personal checking accounts to spend on whatever we want.

We put money into a shared account for joint expenses, and she and I keep separate finances for ourselves, like whatever else is left over. I also try to put extra into the joint so we can have a joint savings, for emergencies and what not. My wife has her own personal savings as well, that she&#x27;s always had.<p>I recommend just opening a shared account and putting a bit above the bare minimum into it. Keep some &quot;you&quot; cash so you can always buy yourself stuff, and you know, if you&#x27;re ever buying surprise presents, she doesn&#x27;t need to know. ;) Other people just join it all, and call it a day.<p>I only join whatever is a dual-expense, otherwise, its either on her, or on me solely.

Shared checking account and credit cards. We automatically transfer a set amount to it montly and adhoc if it gets low. Many shared expenses draw from this account.<p>We also have our own accounts and credit cards. We got married late in life (close to 40) and our professional priorities differed greatly. She came to the marriage with 6 figures of school debt and not many assets, where I had 500k in assets already and just 50k in mortgage debt (no other debts).<p>Our agreement was: I handle paying for our housing while she pays down her debt. After that, we will revisit our financial setup.<p>Works great for us!

Separate accounts, with a joint accounts that we deposit money into each month for bills, mortgage payment etc. Day to day spending like groceries etc. we each spend our &#x27;own&#x27; money and just eyeball it so that we roughly do the same amount of food shopping, fill up the car every other time etc. Larger one-off expenses we split on a case by case basis. We both have our own savings, investments and pensions saving etc, that we manage separately.<p>We have occasionally talked about having more joint finances, but we&#x27;ve been doing like this for 20 years now, and for us it is by far the simplest solution.

Married, 4 kids, she’s stay at home mom.<p>Joint checking, savings, investments, home ownership, cars, everything. I do most of the account management and planning because she hates doing it.<p>We have no concept of fairness in spending. If she wants something truly expensive we talk about it and how it fits in our budget. I do likewise, but in general we both kinda know what the boundaries are, and there’s zero score keeping. She probably spends 3x on herself compared to me, and I’m fine with it. I know she has the best interests of the family at heart.<p>Large purchases like cars are the result of weeks of research, discussion, planning, budgeting, etc.

1 separate current account each, which our individual paychecks go into, and 1 shared joint account, which all household expenses, bills, mortgage etc. comes out of.<p>We both put the same percentage of our individual monthly income into the joint account each month to cover the bills. As we&#x27;re not paid the same though, this means one of us covers more of the bills than the other.<p>We have a fixed direct debit set up to transfer this into the joint account at the end of each month.<p>For non-regular big purchases, holidays etc. we usually split costs the same way, based on the ratio of our incomes. Simple but fair!

We have a hybrid approach--we each have our own bank accounts and credit cards, but also a joint savings account and a joint checking account that covers regular household expenses. My wife is pretty good at doing the budgeting thing and makes monthly-averaged estimates of the regular bills. We have a joint credit card for shopping for stuff like groceries and other household supplies. We&#x27;ve been doing it this way for 20+ years and everything gets paid for and we rarely argue about money.

What could be more simple than having 1 joint account?<p>What could be the reasons to have separate accounts expect some external technical&#x2F;legal constraints? If the simplicity is the priority.

Whatever you decide, get it in writng and signed by both of them. This is the only way to avoid future arguments which, as you surely know, will happen in the happiest of families.

Emily from Plenty (www.withplenty.com) here - we&#x27;re a wealth platform built for couples. My now-husband and I started building Plenty together because we wanted an easy way to understand &quot;what&#x27;s ours&quot; and &quot;what&#x27;s mine&quot;. For those here who do have a combo of joint accounts &#x2F; individual accounts, I&#x27;d really appreciate your feedback.

Money we use for daily things is in shared account. We trust each other to use money wisely on expenses. Consult each other before making &gt;$500 purchase. We get notifications on every transaction. Any unrecognized transaction, we consult to check if it is legitimate.<p>Honestly don&#x27;t really care if she spends on cosmetics and little indulgences here and there.

Are you planning to have kids? Do you and your fiancé make similar levels of income? Do you have similar spend patterns (i.e. thrifty, spendeasy, etc)?<p>The answers to those questions will change the advice. Having kids or having disparate levels of income point toward a joint account, whereas different spend patterns point toward separate. There&#x27;s no easy formula though.

I&#x27;m no longer married but this is how we handled it.<p>Both have a personal account and a shared account for common and family things. Mortgage was shared and so was every other family expense like food and travel.<p>I made twice what she did so I put 66% of the money in the joint account. So long as we had enough money in there for our budget we could do with our leftover money as we pleased.

&gt; We’re based in the US and want optimize for simplicity.<p>You probably don’t want simplicity.<p>You can roughly divide up the bills (either 50&#x2F;50 or a split based on income) and have each person pay some of them so that the monthly spend is equitable.<p>If you actually want simplicity and one of you is a relatively high earner, that person just pays for everything.

My spouse and I have a modest income disparity. For fairness, I’ve created a spreadsheet for bi-weekly core budgeting (i.e. each payday) that takes the percentage of each of our incomes and shows what amount (by percentage) we “owe” for a given line item that either me or her are responsible for.<p>Money is shuttled back and forth between separate bank accounts as needed.

We have our own separate accounts with one joint checking account. We transfer money into the joint account for any shared expense.

We have a joint checking for bills and a joint credit card for everything else we&#x27;re both doing (groceries, plane tix, dining out etc). Everything else is separate; the spouse might be the TOD beneficiary, but we both have relatives that are beneficiaries. My mom always emphasized the importance for a woman to keep her own stuff separate.

We use Copilot. I review that daily. Everything else is joint where it can be. I check in on any spending that&#x27;s more than a certain amount but that&#x27;s only to make sure it&#x27;s not CC theft etc. We&#x27;re on the same page for most spending so we don&#x27;t talk about it explicitly except in terms of stuff over $10k.

Get a pre-nup, they&#x27;re cheap. I didn&#x27;t set up any joint accounts with my spouse so I kept most of my money when we divorced.<p>I used combinations of checks, cash, and PayPal to give them money when they needed it. Eventually I admitted I didn&#x27;t want a partner who never had any income of their own.<p>If you can really help it, don&#x27;t marry anyone.

Joint account for everything for the house and family. Both salaries get paid into it, in full. Spend is jointly agreed.<p>We then both have an individual account for our monthly allowance. Monthly allowance is funded from combined account, and is same amount for us both. Our allowance funds personal items and hobbies.

There is no &quot;Me&quot; in our marriage. It is always &quot;Us&quot;. Everything is shared. All accounts. We trust each other to do the right thing. Once in a while we argue about spending but we move on. I personally cannot be in a marriage where we have anything separate. All in.

Joint accounts for everything, both names on cars and house.<p>We figure if divorce was a concern, we should make it awkward to separate assets we&#x27;ve made over past 20 years together.<p>It helps that neither of us are bad with money or debt, but we probably wouldn&#x27;t have married someone like that to begin with.

Start thinking about estate planning as soon as you get married. It’s easier when you are young.

Joint account for daily stuff (I guess that’s checking) plus a joint savings for big things, rest is separate. We pay in an agreed fixed amount each month, which needs to be semi regularly raised lately due to inflation etc etc…

Joint account.<p>Beneficiary of each other, everywhere.<p>Trust.<p>Monthly allowance, currently $500&#x2F;mo, for purely spending on each other. Necessities such as clothes etc are not part of that, this is when she wants a new Chanel handbag and I want a new bike.

Salaries go to a joint savings account.<p>Bills &#x2F; savings&#x2F; investments &#x2F; daily living expenses come from that (via credit card or checking account).<p>We also pay each other some pocket money to spend on our own hobbies and other stuff.

Some start out with one shared account, then nove to one shared account and a separate account for each individual. I have been married for 30 years and believe the latter is best.

4 accounts, one joint checking, one joint savings, two personal checking.<p>percentage goes to joint savings and living expenses go to joint checking.<p>rest is to do what we want.

We just continued with our existing accounts, except that one of us now has a savings account which we both pay any surplus into each month. Works for us.

Give her an allowance budget. She can spend what she wants on whatever.<p>She manages the house. I try and make the allowance bigger year after year.

You don&#x27;t want to know what <i>we</i> do.<p>You want to know what is going to work <i>for you</i>.<p>What conversations have you had with your future spouse about finances? What do you value (e.g. what is worth parting with you money for)? How do make decisions about day to day spending, big expenses, savings rate, long-term planning, investing, retirement?<p>Are you on the same page on all of those things? Do you disagree on how much to save and invest?<p>Is &quot;simplicity&quot; the only thing you really prioritize?

We maintain our own finances, but split everything proportional to our earnings.

Solve it as if u had many wifes at the same time.

26 years married here. One account. We went all in.

The key thing is what works for you. If you can’t communicate about money, don’t get married - it’s a shitty reason to have a marriage fail.<p>We did most of our stuff in separate accounts that my wife managed for most of our marriage. Eventually we moved to more joint accounts as time moved on.<p>She has since passed away. I think if I did it again I would envision keeping things more separate, but with more explicit estate planning, as life is a little more complex financially as you age.

Sharing accounts is like sharing a toothbrush, that&#x27;s my philosophy ;)

We share everything.

Great question! Love reading what others are doing.<p>This is how we do it:<p>We have a joint checking account, a joint savings account, and two individual checking accounts. There is a shared credit card, and both of our individual checking accounts have a card attached.<p>* Both our paychecks go directly into the joint checking account<p>* On the 14th and 28th, an automatic transfer moves an equal amount to both our individual checking accounts<p>* On the same cadence, an automatic transfer moves money from joint checking to our joint savings account<p>I used to keep track of everything in a spreadsheet that had all expected paycheck deposits and bill expenses plotted out for the year. It was great being able to see at a glance if the checking account was in danger of going in the red. Ultimately I moved to a double-entry system using hledger. It&#x27;s a little less convenient for seeing future balances, but a whole lot more flexible.<p>Bills are paid from the joint checking (and the joint credit card). The money that trickles in to our individual checking accounts are ours to do with as we please (although we&#x27;ve agreed to maintain a minimum $1000 balance for emergencies and to avoid bank fees).<p>This works out great because we get autonomy over personal purchases, but also responsibility: If I want to buy a new laptop, I can do so without feeling guilty, but I also have to save for it -- just like when I was a kid. We can also fudge it using shared money when we want to, but we have to communicate and agree on it. And of course, any large shared purchases we talk about first.<p>Another reason we arrived at this arrangement was for security against identity theft and fraud. Early in our marriage, we did everything out of a single joint checking account that had a debit card attached. Inevitably, the card became compromised. We caught the issue quickly and alerted the bank, but there was about a week where our account was frozen and we couldn&#x27;t touch our own money. Lesson learned: NEVER use a debit card with your main checking account.<p>In the current arrangement, our joint checking has no debit card attached. Our inididual accounts do have debit cards, but I made sure to tell the bank not to give those cards any access to the joint checking or savings accounts. If a card gets compromised, there&#x27;s a limited amount of damage they can do, and it won&#x27;t affect our paychecks coming in or bills going out.<p>Overall, I feel like we arrived at an elegant solution for our situation (no kids, neither of us are contractors). It doesn&#x27;t matter who makes more, we both get the same allowance based on our combined efforts. Whatever arrangement you end up with, however, communication should be a key element.

Most of your wealth should be in offshore accounts or buried in places that neither friends, family, the government and least of all your spouse knows anything about or can touch. That&#x27;s called sleeping easy at night. If anybody starts to nose about your money, it&#x27;s time to start becoming very suspicious.<p>As for how to split expenses, that&#x27;s according to your personal preference.