[Married People] Do you keep your finances separate from your spouse?

Just a foreign concept to me and the circle of family and friends I associate with. With the exception of one very good year in the mortgage loan business back in the 80s, I have made considerably more money in the work force than my wife. I have always felt the money I made was for both of our benefit equally and I wasn't entitled to more of it simply because I made more of it.

 

I had to double check and make sure I didn't type this in my sleep. This describes our situation EXACTLY. Also, since I've been earning money for a longer amount of time than my wife, I tend to be a little more free with our investments/expenses, so it's essentially worked out where a large portion of my salary goes towards our daily lives while her salary pretty much goes completely in the bank (minus paying her father back for graduate school).

 

Our first couple years of marriage we kept our finances separate cause we were just lazy. Her account took care of mortgage, her spending, mine took care of everything else, my spencding. We've since then combined everything and nothing has really changed.

 

She does. It's a joint account and she has full access to it anytime she wants.

But I tend to not spend much and save more, so the only thing she would see if she chose to monitor my spending would be me moving money into our joint savings account(s).

It actually works well for us. I keep her from overspending and she keeps me from being overly cheap. We meet in the middle, if that makes sense.

 

Of course it makes sense. My point was the chauvinistic sounding comment "that way I can monitor her spending" (which didn't apply to you)

 

Most of our finances are in joint accounts. The house is paid for and in both our names. I inherited some fairly substantial assets after my remaining parent passed away that are in my name, and I have a separate checking account I use from time to time that's attached to that, but it's just so I can keep track of where it goes. It reminds me of my folks. We were very close. She's my beneficiary, and I am her's, with the kids splitting everything when we've gone to the great beyond, so none of it matters a damn anyway.

 

Neither of us are really spenders so we save our money pretty well. But still, neither of us care if we buy some small stuff now and again so that doesn't cause any problems. And as far as larger things we just check with each other first but since that's not very often it's pretty much just a formality since we always say yeah that's no problem.

Really it helps that both of us are accountants so we each have a good understanding of how to manage money.

 

I signed the Massey prenup so I'm good.

 

Combined and she does most of the finances. With the job I have, I might be gone all summer and that way we don't miss anything. Plus, she is smarter than I am.

 

Lol I always remember when she asked me what's this "Houston Dining" on the statement. :grin:

 

My wife and I met when I was a broke ass college student, so that probably is why I have no problem with a joint account. Plus my parents had joint accounts. I've always made 2-3 times as much as she did but have always considered it her money since we started from nothing. We only discuss really large purchases and it's usually just a discussion, never asking for permission. Anything below a grand and we don't even really bother. I bought the Oculus Rift and HTC Vive recently and she only knew when it showed up. Not a big deal.
But if I ever remarry, I can see how we would want things separate as it would/could get messy.

 

So I'm trying to prepare our tax documents and bank statements to apply for a home loan. I noticed my wife's credit card statements these past few months have been $2000 per month. LOL.... time to lay down the ban hammer on her purchases.