What works best for married couples when dealing with money?

Should we keep our joint accounts or have seperate accounts. If we have seperate accounts, who should pay for what? My husband makes twice more money than I do. We have a mortgage and car payments and typical bills. We have one child and a baby on the way. I am not a big spender but my husband claims we never keep to a budget. Any suggestions would be great!What works best for married couples when dealing with money?
It's best to sit down together and agree on how much you're going to spend from you salary for the house, and how much he's going to spend. So there should be an amount of money from both of you for your daily lives, etc. which you should both contribute to. Of course, he should pay more since he makes more. For example, each of you pays 70% of his/her salary for the house and has the total freedom to use the other 30% in whatever way he/she likes...


And any extra money from the percentage you put for the house should be save for the house in case something comes up.





And by house, I mean your daily needs, bills, children, etc.





This way, you will be making shared decisions for the house and have your own freedom in spending your own money as well.What works best for married couples when dealing with money?
I think Purple's answer is the best so far. I couldn't have said it better myself.
My husband %26amp; I have the attitude that all the money is ';our'; money - not who pays what bills. We're married, not roommates or business partners. So all the money goes into our joint account, and bills get paid out that same account.


We sit down periodically and develop a budget/spending plan, and we use a variation of the envelope system to help us stick to our budget. Instead of putting cash into actual envelopes because we use our debit cards for most expenses, we have a software system for money management that lets us put a certain amount into each envelope (electric bill, rent, groceries, etc.). That really helps us stick to our budget. One person (me) carries out the budget, ie actually paying bills and record keeping. In the budget we include a certain amount per month for each of us to spend, kinda like an allowance, so we can go to lunch or do whatever we want to do with it. The most important part is to plan ahead; those ';miscellaneous'; expenses are what kill a budget!
Separate accounts, he pays the mortgage.
3 accounts. One in your name, one in his, one joint.





If he makes 2xs the money, he should pay 2/3 of the total bills and you should pay 1/3.





The joint account would be your budgeting account and your indv accounts your discretionary accounts. This ties your money together, but still allows independence.
Seperate accounts and a joint for the bills...agree to put a percent of your pay into the joint and pay bills with that account
I agree with SB's response. You guys are married and should not think about his and my account. You should have one joint account and both try to stick to a budge. You and your husband are one.
Well, you're married. I never understand those couple who don't put their finances together. They must not be really serious. We keep everything in the same accounts. We have a business account and a personal account. We also each have our own personal account to which we can each get into. Bills get paid out of the combined personal account. The other two personal accounts are for us to use on misc. things we need. Your husband's right. A budget really helps.
get separate accounts
My husband and I keep seperate accounts and a joint account. He makes less then I do, but he stays home with the kids. So, his money stays in his account, and I control the joint account. He pays a few particular bills every month (like all of our utilities) and I pay the mortgage. This way, we both end up with about the same amount of money every month. One account being a joint account comes in handy because if he comes up short for the month, or I need more money for the bills, we can transfer the money between accounts easily. And believe me, we do NOT budget...I hate that word. It is a wise option because having seperate accounts means you won't accidentally bounce checks. You can both keep track of what you spend, and you can both be up to date on your finances...very important should one of you pass away or should you decide to go your seperate ways.





I know my aunt and uncle (who have been married for 25 years) keep completely seperate money accounts and absolutely no joint accounts. They each pay certain bills every month. (My aunt pays the DSL bill, and my uncle pays the phone bill.) They had to do this because my uncle had a spending problem which messed up his credit. By keeping their accounts completely seperate, my aunt has kept excellent credit. Every year, he goes on one vacation to Vegas, and she goes on several vacations across the country. She is able to save what she makes while he gets to spend on what he wants without having to ';ask permission.';





Just keep this in mind...if you husband is pushing for seperate accounts, that means you get to spend your money on whatever you want, and he does not get to protest...which also goes for him. It may sound awful, but when you want something like a new car, and you realize you have enough money left over in your account every month to get it, it ends up being worthwhile.





Hope this helps.