Comments on No Debt MBA: Handling money as a couple

Being a newly wed, I should know how to deal with ...

2011-08-08T03:44:09.907-07:00

Being a newly wed, I should know how to deal with these kinds of things. Money is not important but necessary so I have to deal with it assuming my partner would help me.

My husband and I have had separate accounts the en...

2011-07-30T19:38:57.153-07:00

My husband and I have had separate accounts the entire 16 years of our marriage. It was because I had kids from a previous marriage with their own expenses. We'll transition to joint accounts in a couple of years as we move towards retirement. No reason to keep them separate now.

Marie - I think we'll be headed towards...

2011-07-24T15:13:07.512-07:00

Marie - I think we'll be headed towards your system eventually. The tracking isn't so bad since we just have yours, mine, and ours Mint accounts to track spending.

Guess we are old school as we have everything in j...

2011-07-24T14:11:48.850-07:00

Guess we are old school as we have everything in joint names, with informal agreements on what we should consult each other on - dollar limit wise.

It has always worked for us and eliminates a lot of the tracking it seems like you would do if you tried to separate it out individually.

Jana - I think we'll move to that sort ...

2011-07-23T04:13:16.695-07:00

Jana - I think we'll move to that sort of approach long-term. A lot of joint goals around here!

Jackie - I do like being able to have completely individual expenses.

Super Frugalette - Interesting way to jointly prioritize. I do think it is really important for relationships.

Daniel - Congrats! I'm sure you'll find something that works for you.

Buck Inspire - I am happy with our team :) As for if we don't make the same, that'll be happening in the next couple months when I head to school, but I think we'll still be splitting necessities 50/50. I've budgeted for it and I think that's how I'll feel the most comfortable. Long-term that answer may vary. Good question.

tiffany - Go spreadsheets! Love "Budgenator" :)

Full discloser he works full time so that I can st...

2011-07-22T18:29:36.023-07:00

Full discloser he works full time so that I can stay home with our 2 young daughters, but I plan to go back to work once they are in school.

My husband is a excel spread sheet lover. He also has set up Mint accounts. He is basically better at handling the money better than I am and we both realized it. So he has made it as easy as possible for me to be accountable for our expenditures, retirement, monthly expenses, big expenses, stock, etc. (yes he totally rocks).

He created a spread sheet that I enter our daily expenditures into (also I track where our money is going and if it is meeting our budgeted allotment). Our monthly fixed expenses come out automatically, but they are still on the sheet. Our mortgage calculator and all other things are also on the sheet. So we both no what is going on, what it will take to save up for a big purchase, where we are on paying off our mortgage and school loans (our only debt), etc. It is fantastic and keeps our marriage healthy in the financial area.

The spreadsheet is named Budgenator :). Money truly was the only area our marriage had big issues in and my rockstar husband figured out a way that we both could be accountable and have control. I love him big time.

Nice article and sounds like you guys have a great...

2011-07-21T16:16:43.115-07:00

Nice article and sounds like you guys have a great team. Your formula is fair as both of the partners are almost equal. How would it work for a stay at home mom or dad or a partner who makes a certain percentage more than the other partner?

I recently got engaged and this is a topic of conv...

2011-07-21T08:51:33.282-07:00

I recently got engaged and this is a topic of conversation now. I always assumed we'd do joint accounts, but I also know that if I see a lot of spending, I'll bring it up and we'll get into fights about it, so maybe making some guilt-free spending money in each of our accounts is the way to go.

For daily expenses we have one checking account an...

2011-07-20T23:26:09.974-07:00

For daily expenses we have one checking account and adult "allowances". This is the sum of money that each of us are allowed to spend without consulting the other for the full course of the year.

Thus, when the money is spent it is visible in the checking account and tracked in a spreadsheet. It has been amazing since we are able to arrive at a sum for each of us, and a way to track in Excel so that each other could see where we are at during the year. Yet, by having it funnel through the checking account, we see what is of priority or interest to each other and it has had the effect of deepening our relationship.

We have his, hers, and ours accounts. We split joi...

2011-07-20T16:41:25.229-07:00

We have his, hers, and ours accounts. We split joint expenses 50/50 and pay those out of the joint account, and then we pay individual expenses individually :)

My husband and I have a his, hers and ours approac...

2011-07-20T06:28:25.887-07:00

My husband and I have a his, hers and ours approach. I handle the day-to-day, short-term finances and he handles the long term planning. Before we got married, it was a little more muddled.

The timing of this post is amazing. I was planning on writing a couple of posts for my blog on how my husband and I handle our money. Thanks for the reminder and inspiration!