But if you're both putting in ALL of your money then this doesn't apply surely?I would never put all my money in a joint account, too much faff keeping up with who put in what
Why not? Say I put £200 into the account and he put in £400, and I then want to buy something that is £300 for myself. £100 of that is not my money and I don't want to ask permission every time I want to buy something. Nor do I want to check who put in what to work out what is 'mine' to spend because that's more effort than just keeping my disposable money separate? It makes more sense to me for us to have everything we pay for jointly in one account then we spend our own spare money how we want, aside from if we want something together in which case we go halves or whatever. If we put all our money in one account I would feel like I couldn't spend 'his' money so would have to keep checking or asking which I really do not want to do.But if you're both putting in ALL of your money then this doesn't apply surely?
I feel the need to expand on this.We have a joint account that we pay money for mortgage, all bills and a bit of ‘buffer’ money into.
food shops we kinda play it by ear -I do the online ordering, he pays in shop and then every couple of weeks we review and make sure we’re even-ish and if not we transfer some money to whoever is more out of pocket. We have separate savings as mine include inheritance, but we have a joint savings target, each expected to be able to have x amount by certain points then whatever other money is our own. I have a higher salary but he has a higher take home as he gets a lot of mileage and less student loan than I do.
Maybe not conventional but works for us
Oh, I see. Yeah, that isn't how I have ever run a joint account AT ALL.Why not? Say I put £200 into the account and he put in £400, and I then want to buy something that is £300 for myself. £100 of that is not my money and I don't want to ask permission every time I want to buy something. Nor do I want to check who put in what to work out what is 'mine' to spend because that's more effort than just keeping my disposable money separate? It makes more sense to me for us to have everything we pay for jointly in one account then we spend our own spare money how we want, aside from if we want something together in which case we go halves or whatever. If we put all our money in one account I would feel like I couldn't spend 'his' money so would have to keep checking or asking which I really do not want to do.
But what if one of you seems to be spending more than the other? If me and my partner had a joint account and he was buying things from it, it would be mostly my money he was spending? Or do you discuss every single thing before buying it? I think the only way this could work is if you’ve both got very similar incomes!Oh, I see. Yeah, that isn't how I have ever run a joint account AT ALL.
I don't understand this fixed idea of "mine" and "your" money when you're a couple living and building a life together. It clearly works for some people but I just don't get it
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