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Originally Posted by TheAttorney /img/forum/go_quote.gif
But it helps to have an undestanding wife.
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Indeed it does. My usual advice is don't marry an unreasonable person. But, once they are married, well...the guy has already screwed himself right?
Best to work within those limits now
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We have a joint account and private accounts. The joint account sorts out the roof, and the private accounts we do with what the hell we like. |
At present, given where we are at in our lives, my wife and I don't make enough really to justify having separate accounts. That will change I suppose once I graduate and we stop paying for daycare.
That said, a good friend of mine has the joint/private setup and it works this way:
Every two weeks each of them are paid (they are paid during the same week he on Wed, she on Thur) and the amounts are automatically deposited into the joint account.
That same Friday, two automatic transfers are made for an exact amount, the same every two weeks into two private accounts.
What one decides to do with their own play money is up to them. My friend tends to save up and then go nuts on things. He once saved up 6 months and then made an incredible order on Amazon for over 100 DVDs and a few dozen books. He had just been sitting on it waiting for the right time and then just went for it. Meanwhile, his wife is more even keel with how she spends her money, never large amounts but consistent each week going out with friends etc.
They are a very happy couple and they never ever argue about money. For major purchases they jointly save from their joint account (for example they spent 6 weeks in Europe last year and then bought a house).
I think this is a great way to set up the money so that each one feels in control as well as feeling secure that enough money for bills exists and will continue to exist.