How do you handle money in your relationship?
By jenseyedea
@jenseyedea (579)
United States
July 12, 2008 4:05pm CST
I am open to suggestions. I would like to know how you and your significant other handle finances if you are living together. Do you split the bills 50/50? Do you assign different bills to a person? In my case, we both have income. I am just not sure how to handle our bills. So tell me what you do. Thanks for your response!!
1 person likes this
4 responses
@checapricorn (16061)
• United States
12 Jul 08
Hi jen,,
I am not working so I can't give my personal experienced...
about my friends, they have divided bills and assign to each other...then, they have to contribute same amount for their joint account and the rest will be for other needs and wants!
@jenseyedea (579)
• United States
12 Jul 08
Yeah that is a good idea. It really sucks when you are paying the bills and the needs and wants. Then when something else comes up, it becomes a big deal to ask the other for money...when it shouldn't be.
@checapricorn (16061)
• United States
12 Jul 08
I agree and if only one is paying the expenses, it might lead to other party to just lose the money with other less important stuff..So, it's better to clear it out where it should go! Both money!
@stephcjh (38473)
• United States
13 Jul 08
My husband and I put all of our money that we make weekly, together. I am the one who figures up all of the bills and pays them and sends them out on time. He lets me handle the balancing of the checkbook also. We take whatever money we have left each month and buy the things we both want or need with what is left.
@jenseyedea (579)
• United States
17 Jul 08
Thanks for sharing your system. It sounds like that works best for you. I think we are just going to have to experiment and see what works best for us. Thanks for posting. :)
@relundad (2310)
• United States
12 Jul 08
Well every situation is different and you will need to look at your own situation. It first depends on whether or not your income is equally matched. If it is equally matched then you could contribute 50/50 to a household account that all bills are paid from, contribute another equal portion to a household savings account for emergencies or joint things and then whatever is left deposit to your own individual accounts for individual things.
If the income is not equally matched this will be more of a challenge but can still be worked out. As long as the person with the most income is willing to contribute more than 50%.
It is vital that you get it right from the start though as money is the first thing that will break a relationship or marriage. I suggest that you be very vocal about a system that will work for both of you and stick to it. I also think that its important that you develop some sort of budget for savings so that every incident is not a major catastrophe. People often assume that life will be easier once you have 2 incomes but thats not necessarily true especially if its not managed properly. Or if one person has different spending or savings habits than the other person.
@jenseyedea (579)
• United States
17 Jul 08
Thank you for your advice. It was well thought out. It also makes a lot of sense. I will take everything into consideration as I look at our accounts. I agree that most people assume life is easier with two incomes, and I know it is not. You inherite one anothers debts and monthly bills. Thanks once again.
@fwidman (11514)
• United States
12 Jul 08
Right now, I pay the rent and she pays the utilities. For awhile, it was the other way around. The money we have left over is for shopping, groceries, clothing, whatever. But it isn't really my money and her money as if one of us is broke the other will give them money so it is more like our money 
@jenseyedea (579)
• United States
12 Jul 08
Thanks for sharing. I am just trying to find out what is going to work the best for us.
