Money Money Money

what are your "his & hers" arrangements?

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26/11/2010 at 12:13
Nam wrote (see)

I can see though why your colleague has become cautious if he has effectively lost their livelyhood and doesn't seem to have learned his lessons.  I think I'd probably a bit angry if I were her. 

That's right, Nam - there's a lot of us in our office that have to bite our tongues in response to stuff she says about the situation.  She's a highly intelligent woman, but one who seems to be constantly taken advantage of by her nearest and dearest.

Part of the problem is that they're very religious and I don't think divorce would ever be considered an option (I must point out that I'm not slurring religion in general here; just the way this particular couple's adherence to it affects their behaviour).

But it really doesn't sound pleasant.

26/11/2010 at 12:13

We have a joint account and we just take money out of it without asking the other.    This works for us but while we aren't loaded neither are we really strapped for cash - if we were then perhaps there might be some potential for conflict - which should go first her £50 hair appointments every month or my occasional carbon bike parts (obviously it should be the hair appointments).  

At the moment she does earn a lot more than me - it used to be I earned more but I work part time now and do a lot more of the parenting so I feel I've sacrificed quite a lot and if she did decide we should have separate accounts I would see that as the end of the relationship.    It depends how a relationship has developed though - if we'd never had joint finances quite possibly I'd be fine with keeping things separate - but when you have kids and one person's career suffers more as a result then I can't really see how you can say this is my money and this is your money - it's family money as she couldn't be working til 6 every night and then disappear to running club and tai chi three nights a week if I wasn't picking the kids up, feeding them, making sure homework is done, guinea pigs are fed etc.     At the same time I couldn't afford to live very well on what I earn and without her income I'd; have to go full time and with the kids I'd have absolutely no time to myself to train or anything else - it would be work, kids, sleep.  

26/11/2010 at 12:18

Up until we had kids we had seperate accounts but as I earnt more I paid all the bills. Once we had kids my account became a joint account as MrsG stopped work. After a few years of this I started transferring to her account money for food, clothes, kids stuff etc day to day stuff. Initially she was a bit peeved and thought I was implying she spent too much but it was only so I could track spending better and try and start saving - also meant I didn't have to be told about everything spent. She also has a credit card that is paid by me and is thankfully very restrained with!

As for being no good with money it's not difficult really ie don't spend more than you have! Took me a while to learn and proper budgetting has really helped me

26/11/2010 at 12:19

Quite simple really.

Hers is hers.

Mine is ours.

26/11/2010 at 12:26

My sister's ex-boyfriend was very generous with his money... he appeared to pay for everything.

Then they split up and he revealed a spreadsheet he'd kept over the 6 years they were together with every expense she'd tallied up!

Conniving.

26/11/2010 at 12:27

When I was married, we did have a joint account but only I paid into it. Everything the ex-Mrs Muttley (note the "ex") earned stayed in her account. I never knew how much she earned. I paid all the bills, mortgage etc, childcare when needed, everything bar petrol for the car. After a while I tired of this and set up my own sole accounts, still paying for everything of course. Despite that, guess who got the lion's share when I finally gave her the sack.

As skotty says - what's mine is mine, what's his is ours.

26/11/2010 at 12:33

Lord P and I like having our own accounts as well as the joint one.

As mentioned, we were both ripped off - in my case, my previous boyfriend and I just had the one account, and he spent all the money and brought us into huge debts despite being on the dole, me being the only one working and everything being in my name.

This person took advantage of me at a time when I was suffering a pretty horrible bout of mental illness and therefore not exactly in command of everything going on.

I narrowly avoided court proceedings for not paying council tax and rent because said boyfriend had lied to me and told me he was going to the council office to pay it each week when he wasn't.  He was even hiding the summons with my name on them (along with every other item of post - I must have looked such an idiot complaining to Royal Mail that we weren't receiving our post) "so as not to worry me".

Luckily the council were very understanding when they accepted how genuinely unaware I'd been, and how shocked and traumatised I was when I found out.  On that occasion, my parents bailed me out to pay off the debts, I paid them back eventually and had to accept that that money was gone forever, and I'll never make the same mistake ever again.

26/11/2010 at 12:39

I'm married. 

We have separate accounts and always will. 

OH pays the mortgage (and the Council Tax as he gets free travel with his job) I pay all the other bills.

Simple but it works.

Nam
26/11/2010 at 13:20

Lady P it's horrible when that happens, especially when it's so bad that it really risks your own livelyhood.  I've been there, having to think of a proper rescue package to save my house etc and I'd hate to be there ever again.  My OH has also been 'stung' similarly before, so I think we make a real effort to show each other that no one wants to take advantage at the expense of the other.  Because we don't live with each other there's weekend travelling involved.  Because I prefer to go up to his (he's allergic to my cat!) I have the travelling costs, but then when I get there he takes me for a nice meal and pays for everything on the weekend so it all balances out... not that anyone keeps tabs.  He's spent hours fixing my knackered little car etc and after a particularly costly car fixing session I owed him a bit of money... which gives me palpitations and I paid it back within seconds of getting paid.  LOL I just don't like owing anyone other than a bank.  It's the same with other friends.

I think, going back to what Nick said about how things were done in the olden days, people now come into relationships sometimes a little older, with their own property, maybe their own debt, having always managed their own finances.  Whereas years ago when people got married very young, all those big things like house buying happend jointly.

26/11/2010 at 13:25
Yes that must make a difference if you already have your own property.  Me my partner have been together since we were young so we never really had any property other than her Vespa 90 and my Lambretta  - in fact I can remember picking her up from school on it !    Sixth form before anyone asks - and I'm only one year older than her.  
26/11/2010 at 13:31
Devoted2Distance wrote (see)

My sister's ex-boyfriend was very generous with his money... he appeared to pay for everything.

Then they split up and he revealed a spreadsheet he'd kept over the 6 years they were together with every expense she'd tallied up!

Conniving.


Did he send her a bill when they split up?
26/11/2010 at 13:36

 Actually I'm more concerned about the fact that he appears to have gone into a relationship meticulously planning for the day it ended.

That's not just cold, it's bordering on psychopathic

Edited: 26/11/2010 at 13:36
26/11/2010 at 13:46
Screamapillar wrote (see
)

 Actually I'm more concerned about the fact that he appears to have gone into a relationship meticulously planning for the day it ended.

That's not just cold, it's bordering on psychopathic

I agree, that's frightening. How much detail did it go it to?

1/1/2008 - 1/3 or a mars bar 11p

2/1/2008 - 7 chips when  you said you didn't want any.

26/11/2010 at 13:47

Screamapillar wrote (see)

 Actually I'm more concerned about the fact that he appears to have gone into a relationship meticulously planning for the day it ended.

That's not just cold, it's bordering on psychopathic

Agreed!
26/11/2010 at 13:48
Alybea wrote (see)
Screamapillar wrote (see
)

 Actually I'm more concerned about the fact that he appears to have gone into a relationship meticulously planning for the day it ended.

That's not just cold, it's bordering on psychopathic

I agree, that's frightening. How much detail did it go it to?

1/1/2008 - 1/3 or a mars bar 11p

2/1/2008 - 7 chips when  you said you didn't want any.

Did he also allow for inflation?
26/11/2010 at 13:51
Screamapillar wrote (see)

 Actually I'm more concerned about the fact that he appears to have gone into a relationship meticulously planning for the day it ended.

That's not just cold, it's bordering on psychopathic


"Before I fall in love,
I’m preparing to leave her"

 - R Williams

26/11/2010 at 14:02

Married 23 years. Always had separate bank accounts

That way we can spend out money without worrying, Separate Savings as well.

 She does have another credit card on my account and fuel for the car and shopping goes on that. She has her own credit card for personal expenditure etc

Bills we divide up amongst us. I pay most as earn more but not all. She always had the phone bill because when her parents were alive she talked to her mum several times a week. My view was always, you pay the bill and no need for you or me to worry how much it is.

 Its just never been an issue. We are close without needing to follow each others spending down to statement level. Having said that she knows where my bank statements are and can look at them if she wants to. I tend to handle most of the financial side of things but again all the investments are in the same drawer and totally available to her if she wants to took and them and we always see the Financial adviser together.

Wouldn't work for everybody I guess but arguably the most important financial decision you ever make is your choice of partner

seren nos yn canu    pirate
26/11/2010 at 14:23
Nam wrote (see)

I kind of felt a bit sorry for my younger female colleague.  They live in quite a big place and her 50% contribution to the cost of living costs kind of leave her with very little spare but barely make a dent in his account.

I think I would feel a bit sad if my partner earned 3x what I take home, but would feel aggrieved at contributing a bit more.

But having said that, her boyfriend's argument is that he paid his way through Uni etc, works long hours, why should he pay more than half? 

I have pondered about what Nick was saying about the change away from the traditional joint bank account.  Does anyone feel that to insist on keeping your financial affairs seperate is somehow refecting a lack of committment to the relationship?

I think my ideal scenario would be own accounts and a joint one with 50:50 contributions, but then we earn about the same and while I do earn a little less if you consider his perks, I do want to be seen to be pulling my weight?  I have always had my own money and I think the scenario I would personally struggle with most is if I had no income and felt I wasn't contributing.


we had a joint account when we got to gether but also kept our own accounts as my husband didn't like the idea of buying me presents out of our joint money...........

we paid the same into it as we were earning the same............

I then gave up work to have kids so My contribution ended and he had to double his.............i didn't feel bad that i couldn't contribute as I felt that we had a partnership that meant that my non paid work was as vital as his...................

I have always had an icome into my account from part time job or something so that my own account always had some secrets and he always kept the balabce from his wages,................just gave a bit of seperate independence........................although we both use the joint account when and how we want to...................although this only works as neither of us will run up debts

26/11/2010 at 15:15

My wife and i have a joint bank account what we both pay the same amount into and this account pays the gas, lecky, council tax, food and morgage etc. 

But it does not pay for my wifes clothes and make up etc she buys them her self, i buy my own clothes and ANYTHING our gorgeous daughter needs........as well as i pay for everything if we go out for the night, holidays etc and even fuel in the car i pay for (i only drive it on a sunday and its always empty).

I love it and so does my wife and it suits us fine

Edited: 26/11/2010 at 15:16
26/11/2010 at 15:17
M.ister W wrote (see)
Torque Steer wrote (see)
M.ister W wrote (see)
Say you're married to someone who isn't good with money but is wonderful in every other way.  Would you trust them with the finances?  Marriage isn't about sharing equally.  It's about working to your strengths and allowing your partner to work to his or hers.


So the dominant partner always gets his/her own way?? Good way to the divorce courts.

What's this thing about being good with money? You don't have it, you don't spend it. When you do have it you spend carefully on what is needed. It ain't rocket science - or economics!!

Actually I withdraw that last remark - it's a lot more sensible than economics..................


You live in some sort of dream world where no-one gets into debt and people only spend what they earn.  Yes, that's how I behave but it certainly isn't how everyone behaves and you're stupid if you think they do.

It's not about one partner being dominant.  It's about recognising that some people aren't good at some things.  There's stuff I'm not good at so I'm happy for Pink to do those things.  Equally, there are things Pink isn't good at so I do them.


Actually I live and work in a harsh reality world where stupidity is frowned on quite severely.
it has been interesting watching tales unfold of how past experiences have coloured one's perception of current life and I can sympathise with those who have gone through those difficulties.
Attitudes to debt are certainly different now but it is perhaps time, if the lessons have not been learned already over the last couple of years, for people to take a more conservative approach to debt and finance generally

As JeremyG said
As for being no good with money it's not difficult really ie don't spend more than you have! Took me a while to learn and proper budgetting has really helped me

It is nearly the time of year for Mr Micawber ........................................

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