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This is for the married moms. Do you have a seperate saving account? If so how did you determined what amount goes in your saving and in the joint account to cover the house bills?

My husband and I have joint checking/saving account. Lately have been thinking about seperating our saving accounts because his priorities are not straight. He just spend money on things that are not necessary and have no regards for the bills. The way the economy is right now I don't want to be homeless and I want to be able to always provide for my daughter and start college fund for her.

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Asked by Cassandre at 9:20 AM on Jun. 16, 2009 in Money & Work

Level 46 (220,043 Credits)
Answers (11)
  • We have a shared account for everything. I handle the bills and such. He gets money on Friday and it usually lasts him until the next payday.....thats how it has always been with us though

    Answer by nikkileerue at 9:25 AM on Jun. 16, 2009

  • Me personally I like to have my own account seperate. At first we both decided how much money we would put into a joint account to pay bills only and that worked for awhile until I lost my job and could'nt contribute as much. So we looked at all the bills and decided who would pay what. This has worked out great for us. If one person comes up short for some reason sometimes we just ask the other one and we don't ask can I borrow some money we just give it to them. Remember you are still one just with seperate accounts.

    Answer by TMJlove at 9:33 AM on Jun. 16, 2009

  • I handle all the bills in the house as well. But it's difficult to manage his credit card bills because after he open them he fails to put them in the bill slot. So when the time comes to pay the bills I have to search for them, which gets on my nerves. And yes I've talk to him about it and it's still an issue.

    Answer by Cassandre at 9:34 AM on Jun. 16, 2009

  • We have a joint account and then we each have accounts from before we were married. I have like $25 in my account at the moment. His paychecks come to our joint account. We both have investments which come out of the joint account automatically. Then I pay the bills. If there is a good chunk of change left then I will take some of that and transfer it over to his account. We are saving for him a new car in his savings account. Our joint savings is mostly for over draft protection. He has one credit card on his old account that he rarely uses. If he needs to pay it, then I transfer the money over to his account. Right now I am trying to get our credit card paid off before our baby comes so not much goes to his car savings, but I'm hoping to have that paid off by September and we can save again. I've told him he has to figure out what we're going to do about saving for college and then I will put the money into that.

    Answer by Christina807 at 9:47 AM on Jun. 16, 2009

  • All of our accounts are joint, and I handle all the bills, finances, investments, insurance, etc.

    Answer by mancosmomma at 10:34 AM on Jun. 16, 2009

  • I have my own savings account and I take $50 out of every check of mine to put into savings. I also work online with a few freebie sites and I take half of what I make with them and put them into my account also.

    Answer by SweetKYmom at 10:42 AM on Jun. 16, 2009

  • We have joint accounts for checking and savings, and we're both on the business account. We have a joint credit card, although I do have a credit card in my own name and the utilities are in my name so I still have active credit even though I don't work. I'm in charge of all the finances and I just take out whatever I want. I don't have the need for an account in just my name, though.

    Answer by JulieJacobKyle at 11:38 AM on Jun. 16, 2009

  • we have joint everything. but I do take any money that is leftover from my weekly grocery budget and put in a jar that I call the school fund. We also put all our loose change in it. This seems to the thing moms/wives have done for a long time. I have heard it called their milk money

    Answer by Lynette at 12:25 PM on Jun. 16, 2009

  • We have a joint checking account for expenses; we each have our own 401k retirement accounts; we have an investment account for our daughter's education; we have another account to save for vacations, household repairs, etc.

    Answer by rkoloms at 1:30 PM on Jun. 16, 2009

  • Please read the Suze Orman book Women and Money. It talks about how important it is for us to have our own accounts. I have had one of her recommended "Save Yourself" accounts for over a year. She understands how we women deal with money!

    Answer by Lori-1008 at 2:52 PM on Jun. 16, 2009

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