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How are finances handled in your house?

I'm seriously getting sick and tired of him and his inability to handle money. I want no more financial ties with him AT ALL. I'm thinking, he pays me to stay home with the kids and I open my own bank account and take my name off of his. I'm sick and tired of all the damn overdraft fees. He always says "Yeah I checked it" and it never fails, when we overdraw he acts like it's a surprise. I know it's not me cause I'm on modified bed rest and hardly ever leave the house! So how is it handled in your house? Do you have joint or seperate accounts?

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MHaney1980

Asked by MHaney1980 at 3:26 PM on Aug. 13, 2009 in Money & Work

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Answers (7)
  • we have a joint account, and my DH pays the bills. Leave them to me, and they'd never get paid. I tend to "impulse buy" and he's the planner.

    We di sit down and discuss ALMOST EVERY PURCHASE, even a $10 book or a $18 movie. We discuss, and agree to buy it. If we don't both agree, we don't get it.

    It works for us, and there's no bitterness between us.
    christaberk

    Answer by christaberk at 3:31 PM on Aug. 13, 2009

  • He's the one that has no control. I on the other hand could live off $10 a week. And he wonders why we can't pay rent.
    MHaney1980

    Answer by MHaney1980 at 3:33 PM on Aug. 13, 2009

  • We have a checking and savings in both names and all of our money from both salaries goes in together.

    The cash we get goes in one envelope. We both take what money we need, and when the envelope is almost empty, we'll get some more money from the bank. This works for us but wouldn't work for everyone. Some people label the envelopes and put a certain amount in each- food, clothing, entertainment, etc.

    I pay the bills from the checking account, he takes care of investments, such as they are in the tight economic times. Before we were married we talked about money and finances and are close in our spending habits. He is a little more casual about spending than I am, but mainly for small things. His philosophy for other than small things is to walk away and think about it, and a day or week later if he still wants it, then he'll go back and buy it. For me, I tend to buy it while I am standing there and have the money.
    Bmat

    Answer by Bmat at 3:43 PM on Aug. 13, 2009

  • I am a SAHM my husband is the sole provider for our income. His checks are direct deposited into our joint account. We pay ourselves first by putting money in retirement, savings and investments. We then pay bills and insurance. What is left over if for groceries, gas and to spend how we like. My husband thankfully is a responsible person and does not spend what we don't have. Have not had an overdraft since I was in college 18 years ago. Anything over 400 bucks we discuss unless it is to buy something we need like a new washer or fridge. I bought a new washer last week did not ask him we needed it and I got one. He only commented I should have bought the matching dryer and today I ordered it. We trust each other to put the families best interests first so we don't have to discuss all purchases.
    Anonymous

    Answer by Anonymous at 4:00 PM on Aug. 13, 2009

  • Go here He is great!!!
    http://www.daveramsey.com
    workin4mhomemom

    Answer by workin4mhomemom at 5:09 PM on Aug. 13, 2009

  • I am a SAHM, my hubby is military. His check is direct deposited to our joint bank account. We have money go straight from his check before we even see it that goes into his retirement fund, pays our medical and dental insurance, and our car payment. On pay day, I go online and pay all the bills, other than the ones that are automatically deducted from our bank account. Then what is left over, I go and buy groceries and fill the cars with gas, and do any other necessary things. After that, if we have any left, that is what we have for fun for the 2 week period til the next payday. Hubby seldom spends money, and if he does, it's like $10 for lunch or something once or twice a month. I am more of the impulse buyer which is why we take care of all of the important stuff the day we get paid lol.
    AprilDJC

    Answer by AprilDJC at 5:27 PM on Aug. 13, 2009

  • I don't work. Due in 2 weeks! My husband makes the money and it goes into a joint account. We have money going into retirement accounts automatically. I pay all the bills and tell him how much is left over. He pretty much doesn't buy anything without checking with me first, unless it's little stuff. We have a savings account that is our overdraft protection. So if we were to go over our checking account limit, it would just come out of our savings and there would be no fee.
    Christina807

    Answer by Christina807 at 12:24 AM on Aug. 14, 2009

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