Husband & Wife
- Thread starter exit45
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GeeCee Saga
Registered Users (C)
My husband and I maintain seperate current accounts at seperate banks. Nothing of design but that's just the way it's been. All our savings go into one account that is managed completely by me.
We have never really considered anything his or mine just that we've spent $XX on something.
All the accounts are in my husband's name and I have authority to operate them except for his current account. He pays his bills (credit card etc.) and I pay mine. He saves a considerable portion of his salary but housing and other joint bills are taken care of by me. And I am totally fine with that. At the end of the day I just want to know that X amount of dollars have gone into savings per month.
We have never really considered anything his or mine just that we've spent $XX on something.
All the accounts are in my husband's name and I have authority to operate them except for his current account. He pays his bills (credit card etc.) and I pay mine. He saves a considerable portion of his salary but housing and other joint bills are taken care of by me. And I am totally fine with that. At the end of the day I just want to know that X amount of dollars have gone into savings per month.
st8
Registered Users (C)
Originally posted by tyzh
400K in a bank? You don't need a belly up to lose money
As mentioned in my post, in earlier part of your life your savings would be lesser.
Though this post is offtrack, it is all about finances and investing.
When younger, one's exposure should be weighted in the order of stocks, bonds, cash (CDs and money market). As time goes by, the weightage should shift to bonds and when you are 50+ better to have more weightage in CDs/money market, then bonds and lastly stocks. So, at 55 if you had 1 million $$, if you kept most of it in stocks, you could be in for a nasty surprise even if it went down by 15-20% as you do not have age on your side to recover it. You should try to protect savings at that age and it would be easy to have more than 500K in CDs (laddered
) and money-market accounts.But the investing discussion is another beast and you may need another forum.
Good Luck.
st8
Registered Users (C)
On the emotional side of maintaining finances if both are wage earners (it is not about how you keep it, single, joint, blah, blah, blah), the person who can manage finances better should handle that part of it and the person who controls expenses better should handle that part of it. If it is the same person, so be it. Simultaneously, the person maintaining/controlling should also help/guide the other person the nuances and the reasons. God forbid, if a disaster happens either one of them should know what to do and what state the family's finances are.
Key part is as long as one does not discuss that it is my money, it is fine. The entire earnings should be it is our money. Also, one should never bring up that they make the bigger share. Always calculate expenses and savings from an unified earnings.
Key part is as long as one does not discuss that it is my money, it is fine. The entire earnings should be it is our money. Also, one should never bring up that they make the bigger share. Always calculate expenses and savings from an unified earnings.
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ZeusChicago
Registered Users (C)
We maintain separate accounts
My husband and I maintain separate accounts. This has nothing to do with trust or values or eastern/western culture. We have separate accounts because we are comfortable with this arrangements - so we don't feel one is controlling the other's finance/life. This works for us.
My husband and I maintain separate accounts. This has nothing to do with trust or values or eastern/western culture. We have separate accounts because we are comfortable with this arrangements - so we don't feel one is controlling the other's finance/life. This works for us.