Quote:
Originally Posted by Old Yeller
My wife and I have our own separate accounts that our paychecks are deposited into and then we contribute a % of that to our joint account where all the bills are paid from. I make more than her so I put a little more in the joint account each month. We've been doing it this way for a couple of years and works for us.
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This is what my wife and I do as well, and it works fantastic for us.
We actually have two joint accounts, one for recurring monthly bills and one for random day-to-day expenses. The former is for stuff like our mortgage payments, property taxes, insurance, etc., and the latter is for things like groceries, household goods, going out for drinks/dinner/movie/etc.
We earn almost the same salary, so we contribute to the joint accounts equally. If there was a larger income discrepency between us, we'd likely divide it proportionally.
The best part of this system is that we never have to ask the other permission if we want to buy something with our own money. We each contribute an equal amount to our shared expenses, but everything left over after that can be spent however we want.