- 4 married couples participated in how to manage their money.
- Some prefer to combine everything in common accounts, while others still prefer some separation.
- All husbands stressed the importance of communication in finding what is better for you.
For couples, there is no specific way to integrate your money.
Do you convert everything to a joint bank account? Keep your money separate? Choose a mixture by collecting money to get a large purchase, pensioner or emergency savings, but keeping everything else in individual accounts?
We asked four married couples how to do it. While their methods are varied – from a large joint account to separate “fun” money – each couple emphasized the importance of being transparent and communicating with the money.
Dorieli Billy, 30, and Samantha Billy, 30, brings together financial resources but have separate “fun” money accounts.
Doriel and Samantha Billy.
Their professions: Durelle Bailey is the director of health services In the Air Force and Samantha Billy, he works as a recruitment marketing manager. They are also influencing social media and running their marketing agency.
They entered them: Each of them makes six numbers.
Where do they live: Stafford, Virginia.
Married for: Seven years.
How do they divide their money: They share one major joint account for most of their central expenses. This includes the verification and savings account, as well as savings, investment accounts and credit cards with high return.
They also have separate accounts from “fun money”, Durile said. “We are a kind of dividing our money to go shopping and do what we want to do.” They allocate about 20 % of their income for the pleasure of money every month, to spend each of them.
Why works for them: Baileys has opened shared check accounts and savings early marriage, adding all their profits to one place. Samantha said that she taught them how to work as a team, because she is alone while Duri is a savage.
“The mixing of our financial resources was really good because we realized that balance is important,” she said.
For example, if the budget of its fun money exceeds and decreases in the common savings to buy Sephora, the joint account helps her to stay responsible for the greater savings goals, such as future holidays.
She also taught Doriel, who grew up with financial instability, to “be more willing to spend and enjoy the fruits of his work as well, instead of just saving everything.”
The largest expenses: Travel and mortgages.
Tips for other couples: Baileys maintains examination procedures throughout the year to discuss everything from job standards to travel plans. About twice a month, they focus on checks on money. “We are reviewing our verification accounts and our investment accounts, just to ensure that we are reaching the goals,” Doriel said.
He said that the presence of a structure, such as automating most of their payments, helps them stay on the right track at fixed costs and savings goals. “Pay yourself first, then you can get money to do what you want with,” he said.
Alex Pitta, 35, Jeff Bita, 36, joined all their accounts, which Alex.
Alex and Jeff Bayta.
Tyler Branch Photography Inc/Tyler Branch Photography Inc
Their professions: Alex Payetta is a woman’s life coach, and Jeff Payetta has chemicals for family cleaning and goalkeeper products.
They entered them: Each of them makes six numbers, but Alex makes twice as much as Jeff throughout the year (although its income is more variable).
Where do they live: Huntington Beach, California.
Married for: Five years.
How do they divide their money: Payettas merged all of their accounts shortly after the marriage. “It was a very intended decision,” Alex said.
She also manages all their money. “Jeff is responsible for cooking and I am responsible for financial affairs,” she said. It tracks its budget and makes all the financial decisions of the family.
Why works for them: Alex Pitta said that either of them had any debts entering marriage and had very similar customs and goals, making it easy to combine everything.
They also found that it is boring to pay each other in exchange for their mortgage or facilities. Jeff said: “It seems that the additional work is unnecessary, given that we all strive for one purpose,” Jeff said.
When they bought a house two years ago, getting their money in one place made it easy to know their budget. “If we have everything separate, it will be very difficult to make a decision about what we can bear,” Alex said.
The largest expenses: The couple have two young children and expect a third. They said that they spend about 10-12 % of their income accurately on childcare expenses, such as the nanny. This does not include curricula such as dance category.
They also spend a lot on home expenses, mortgage and property taxes.
Tips for other couples: “Be really open and honest and have a plan,” Alex said. “I see a lot of people who do not talk about money or make them uncomfortable, so they only avoid the topic completely or just a kind of doing their partner.”
She said that their way is working because they communicate a lot and make sure they are on the same page. If the money is narrow, they will make adjustments together like filling lunch rather than eating abroad.
Marceil Van Camp, 39, KNAFF, 40, has completely separate accounts, unless it comes to restaurant expenses.
Marcel van Camp and Katie Knov.
Marcel van Camp
Their professions: Katie Knov is a chef and Marsel Van Camp is real estate broker. They both have an integrated American restaurant in Seattle.
Where do they live: Seattle, Washington.
Married for: Eight years.
How do they divide their money: They have separate accounts from everything, including their savings accounts and pension funds.
The only exceptions are any accounts related to joint restaurants. They share the examination account, credit line and commercial credit cards. Almost once a week, they sit to overcome their financial resources. They usually spend time reconciling their financial resources from the restaurant and Marsel Real Estate.
Why works for them: “It is good to be able to surprise each other once every period,” Marcel said.
Only this week, Katie bought a belt that wanted for a long time. “If I saw those expenses on our joint examination, I may be like,” this is not necessary. “
The largest expenses: “Our dog was very old, it was very expensive recently,” said Marcel.
They also spend most of the money on HOA fees, eating abroad, and traveling to real estate networks in Marcel.
Tips for other couples: Be consistent with the number of times you talk about money.
Marcel said the weekly funds made their money “easy and painless” talks. “It is an ongoing topic, which makes it unaware or worrying,” she said.
Sasha Dutta, 35, Raj Dutta, 39, is mixing separate and combined accounts.
Sasha and Raj Dutta.
Sasha and Raj Doota
Their professions: Sasha is the vice president of the Public Relations Agency and Raj is the founder of the startup.
They entered them: Sasha makes “more than six numbers” and “Raj” manufactures “under” six “.
Where do they live: Ginzville, Florida
Married for: Five and a half years.
How do they divide their money: They have separate accounts in addition to the verification and savings account combined. Sasha told Bi: “Every month, we will put a specific amount in the verification account and this will pay our bills, mortgage and all our expenses.”
Why works for them: When they started dating for the first time, the couple had completely independent accounts and only paid each other for expenses like rent. Once married and bought a house four years ago, they found it easier to track large expenses through a joint account. They use the account for their main common purchases, such as grocery and travel stores.
The presence of some separation is also nice. “We have different spending needs, and how much you want to spend on some elements compared to the other person,” said Raj Dutta. They use their own accounts to buy things for themselves.
The largest expenses: Mortgage and weekly grocery stores.
Tips for other couples: Speak through what suits you, not other couples. “We know our friends who joined the accounts and withdrew everything together in their examination and savings,” Raj said. “This works for them completely. But for us, it works for us in a different way.”
