Business & Finance Joint bank accounts

[Miqar_Baqfhied]

Having recently gotten engaged with the missus, she now wants a joint bank account - for reasons which I mostly agree with. Paying for things for the house, holidays, bills etc its always a case of who owes who. She's not a big spender and we both earn the same so Im not worried about this.

But its gonna be a pain in the arse to call up every direct debiter and let them know my account has changed.

Any advice - surely there is an easier way.

 

[Bunk Moreland]

Wait for the debits to fail then they contact you.

Do it every time I get a new credit card

 

[Leper]

Why would it be a case of "who owes who"? If you're getting married do you still want to keep tabs on "your" money and "her" money?

If you're concerned about the hassle of changing direct debit arrangements why not just keep the old account open and change them over as and when you think of it (though personally I avoid direct debits like the plague). That said I thought the bank could handle the changover for you, but I'm not sure on that.

 

[blueboy25]

If you speak with your bank they should change your direct debit details on your behalf.

 

[HBF]

Joint back account for the mortgage, bills and any joint purchases such as things for the house and holidays.
Keep your own bank for your own personal purchases. Makes life so much easier, trust me.

 

[Quivorir]

Joint back account for the mortgage, bills and any joint purchases such as things for the house and holidays.
Keep your own bank for your own personal purchases. Makes life so much easier, trust me.

Thats what we do. Its great.

 

[HBF]

Thats what we do. Its great.

Yep, it's the way to go.
Means no arguments over finances really.

 

[The Passenger]

Joint back account for the mortgage, bills and any joint purchases such as things for the house and holidays.
Keep your own bank for your own personal purchases. Makes life so much easier, trust me.

Thats what we do. Its great.

Have always been curious about joint bank accounts... How do you guys split what goes into the joint account and what goes into your personal account? do you both contribute evenly to the joint account, or is it a percentage of your weekly pay cheque?

 

[BALKAN]

Keep all your money in cash, kept under the bed. No receipts.

 

[radiojake]

I do not understand why anyone would get a joint bank account -

fair enough I've never been close to getting married but even in a 6 year relationship I didn't even contemplate such a move

 

[Quivorir]

Have always been curious about joint bank accounts... How do you guys split what goes into the joint account and what goes into your personal account? do you both contribute evenly to the joint account, or is it a percentage of your weekly pay cheque?

We have an agreed amount on what needs to go in each week to cover bills/mortgage/food. Rest just goes in personal account.

 

[CrippsonBlue]

I do not understand why anyone would get a joint bank account

Why wouldn't you? I get you wouldn't rush into it, but we already have a joint account, our savings account, kids accounts, loan account. Adding further accounts, or trying to split bills etc. just seems so problematic. We get x amount in, we pay our expenses, and are left with y amount to spend in one account, rather simple method to manage our household income.

 

[CLUBMEDhurst]

Make sure you have an account that your better half can't access. I'm sick of lying to disguise my recreational drug use

 

[Bunk Moreland]

Don't really see the need to be honest. Seems like an anachronism from the days of single incomes.

Mortgages are automatic debits anyway which they can split between two accounts.

 

[iluvparis]

Keep all your money in cash, kept under the bed. No receipts.

What is it with wogs and cash!?!

 

[Aussie Assault]

Joint back account for the mortgage, bills and any joint purchases such as things for the house and holidays.
Keep your own bank for your own personal purchases. Makes life so much easier, trust me.

Basically what we do. Works a treat.

 

[little graham]

What is it with wogs and cash!?!

They end up with huge beer bellies by about 40 and know they must have something to keep the chicks.

 

[TheWoodenSlug]

Make sure you have an account that your better half can't access. I'm sick of lying to disguise my recreational drug use

I just went one better and found a better half that also enjoys recreational drug use.

 

[JuddsABlue]

Have always been curious about joint bank accounts... How do you guys split what goes into the joint account and what goes into your personal account? do you both contribute evenly to the joint account, or is it a percentage of your weekly pay cheque?

Bought a house a year ago with my girlfriend

We have an account that the mortgage comes out of, we both deposit the same amount each fortnight (roughly half out wage) and it covers all bills that we bpay out of that account and when an excess grows we put it on the house

She's a shift worker so if she has a good fortnight then she gets to keep the reward for it, I'm on a fixed salary so it doesn't change for me

 

[Messenger]

What's hers is hers, what's mine is hers.

I sleep well.

 

[Catfish Alley]

I do not understand why anyone would get a joint bank account

As others said, it makes things a little easier with bill payments. Also, my wife would be screwed if we didn't because she's a stay-at-home Mum

 

[BALKAN]

What is it with wogs and cash!?!

I would bring shame to my family if my wallet wasn't filled with an unnecessary amount of cash and Bunnings receipts.

 

[Unique Name]

Wife is a stay at home mum for our 1 year old and we have decided it would be best for her not to work now until we have the next kid and then both have started school in 5 years or so. Hopefully she will do some uni in the mean time so she can get a half decent job when she returns to the workforce, so everything is shared.

Even before the first kid came along and the misses was working everything was shared. We haven't had any issues as of yet, she doesn't complain about my ever expanding and overflowing bookshelf and I don't complain about her clothes shopping

 

[SHAKESPEARE]

remember...what's hers is hers and what's yours is hers.

 

[Cynic]

Joint back account for the mortgage, bills and any joint purchases such as things for the house and holidays.
Keep your own bank for your own personal purchases. Makes life so much easier, trust me.

This is what we do. $X goes into our joint account for all joint expenses and the rest goes into our own accounts. Works perfectly and keeps everything fair.