Couples; Do you pool your money together?
Do you pool your money together in one account and pay the bills out of that account, or do you have seperate accounts and are each responsible to pay different things?
56-60, M
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swirlie · 31-35, F
I advise couples be they married, living common-law or just shacked up together playing house, to have separate savings accounts, but to also have one shared checking account in joint ownership.. meaning both names are on the checking account only.
Each month, they each transfer either an equal $ amount from their respective savings to their shared checking account, or they both transfer a pre-determined percentage of the monthly living expenses into the checking account to keep the checking account solvent.
Only one of them should be assigned the role of monthly bookkeeping, not both of them, where all household expenses are paid from the checking account by just one person.
Each month, they each transfer either an equal $ amount from their respective savings to their shared checking account, or they both transfer a pre-determined percentage of the monthly living expenses into the checking account to keep the checking account solvent.
Only one of them should be assigned the role of monthly bookkeeping, not both of them, where all household expenses are paid from the checking account by just one person.