Newlywed Finances?? how should it be done?

[Wongshow]

I will be getting married in May, presently we each have our seperate account and we put money in one joint account to pay for bills mortgage ect. However, there is no set amount that we each puts in we just make sure the bills are paid. She is not convinced that this will work in the future with different event that happen in life eg kids. So would like different input from different couples to see what works and what doesn't. I know in the end we both have to come to an agreement on something or it can be the start of divorce..hahaha input please.



Al

 

[RedlineBrett]

This isn't a marital advice forum... but since you asked...



I'd say you should get rid of your two sperate accounts and operate out of one joint. If you don't have a pre-nup involved then get all the cards on the table. If you don't do this then as soon as money gets tight there will be fights!



I'd also suggest you buy a house before you do the wedding. And congratulations, BTW

 

[bizaro86]

[quote user=RedlineBrett]I'd say you should get rid of your two sperate accounts and operate out of one joint.



This is what my wife and I do, and so far so good. Best advice I can give is to talk about it! Money breaks up marriages because people don't talk about it, and by the time it comes to a head it's a huge problem.



Try to discuss the big stuff and not sweat the small stuff.



And congrats!



Michael

 

[invst4profit]

Agreed, one account and to go even further only one of the couple should manage the finances with input of course from the other. My preference would be to have the most conservative/money conscious of the two do the managing and have all money pass through that individual.



In the end it rarely matters as the wife usually ends up with all the money whether they get divorced or not anyway.

 

[Rickson9]

It depends on what you guys are comfortable with. My wife and I have separate accounts. Basically we're following the same routine that we had before we met. Neither of us were interested in changing our habits in this regard, even after getting married. To each their own.

 

[Thomas Beyer]

Congratulations on this big decision !!



Money and sex: the most important issues in a relationship and the least talked about !



Re the former: Get a joint account.



Talk about it often .. as things happen and life evolves and your relationship evolves: how much to save .. how big a car to buy .. whether to lease a car or buy one .. whether 5 star hotels or campgrounds are preferred .. whether wine always has to be the $40+ kind or if $12 is sufficient .. town house in the city or acreage in the country ... how much to donate to charity/church .. where to invest ... etc.



Re the latter: ... I won't go there !



Enjoy the journey together !!

 

[Thomas Beyer]

[quote user=invst4profit]

In the end it rarely matters as the wife usually ends up with all the money whether they get divorced or not anyway.


I thought it is 50/50 ??