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Ann C
Savvy April 2021

Planning to combine finances. How’d you do it?

Ann C, on January 31, 2020 at 12:26 PM Posted in Planning 0 22
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How and when did you combine your finances?

22 Comments

  • Amber
    Rockstar February 2020
    Amber ·
    • Flag

    We combined all of our finances a month or so after getting engaged. We just opened a new checking and savings account in both of our names, moved our individual funds to those accounts, and closed our old ones. We have a couple credit cards in just one of our names, but all of our account usernames and passwords are combined too, so I pay all the bills with our money no matter whose account it is.

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  • Caytlyn
    Legend November 2019
    Caytlyn Online ·
    • Flag
    We have had a joint checking account since we moved in together and each of us contributes a certain percentage of our checks to that account. We opened a joint savings for wedding purposes soon after getting engaged.
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  • Melle
    Legend June 2019
    Melle Online ·
    • Flag

    We had joint savings account and credit card while we were together. it was because we traveled together so much that we felt it was easier just sharing expenses that way rather than logging who paid for what.

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  • Kelly
    Champion October 2018
    Kelly ·
    • Flag
    We did it a few days after the wedding. We just went to the bank and added me to his account and got me a debit card linked to that account.
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  • MrsD
    Legend July 2019
    MrsD ·
    • Flag

    We bought a house together prior to being married but after we got engaged. Even prior to that, most our finances were combined. We had a joint credit card, and our names were on each others bank accounts. We split bills 50/50 so we have our own accounts but we also have a joint savings account.

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  • Katelyn
    Devoted October 2020
    Katelyn ·
    • Flag

    Once we bought a house, we opened a joint checking/savings account. We both put a percentage into that for house/joint bills, and then we have our individual accounts as well. We just split bills 50/50 and pay our individual bills (like loans or other stuff we want to buy) from our individual account. This works best for us, but it all depends on what works best for you and your FH!

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  • Annajoy
    Expert July 2020
    Annajoy ·
    • Flag

    We're kinda doing a practice run right now and have 2 separate accounts but use a google spreadsheet to input our paychecks and expenses. Once we get back from honeymoon we'll consolidate accounts. My bank offers a much better interest rate, but his is more accessible, so we may use mine for savings and his for checking. All paychecks will go to the same place and the cards will draw from the same account. That way it's OUR money and hot his money/my money. We've discussed each retaining a bit of our paychecks and putting them in our own separate accounts, so that we have money that we can use no-questions-asked to treat ourselves or buy the other person a gift/surprise.

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  • Katie
    Devoted March 2019
    Katie ·
    • Flag

    WE. WERE. LAZY!! We've been married for 10 months and got a joint account about 2 months ago - for reference we started dating in 2015, moved in together 2016, engaged 2017, married 2019. Before moving in together we discussed finances in terms of: financial goals, existing debt/savings, agreement on combined spending, communication about spending, etc. Up to this point we have had several different financial arrangements that worked for us:


    1. When we first moved in together, the move was for my job and he was an online student working part time. We split the main bills and I covered additional expenses for groceries, gym memberships, dinners out, etc. and we both purchased our own extra "wants".

    2. During our engagement we moved again, for my husband's job. We both have good jobs and similar salaries. At this point we really got interested in building credit and finding the right credit cards for us - we love travel. We each got new credit cards, and depending on which card has the most value (ex: one gets 4x points at grocery stores and the other gets 7x points booking hotels) is how we spend/choose what card to use. Paying the credit card bills every month was definitely more of a "whoever got around to it first" kindof thing.

    3. We had been talking about getting a joint account since we had married, but it was more of a convenience thing than actually avoiding it...with our jobs it was difficult to find a time when we could both be present at our local bank (during banking hours) to sign off on the account. We have kept our existing savings account separate, and since opening the account have put 100% of our income toward our joint account. I have been lucky to build a healthy savings account in the earlier years of our relationship, which we will keep as an emergency fund for the future.

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  • Canadiangal
    Dedicated August 2020
    Canadiangal ·
    • Flag
    We got a joint account about 5 months ago. We've been living together for 2 years now and since we've been sharing our finances anyway, it made sense for us. But the only thing that's important is if it makes sense for you. My only complaint is that it's weird getting things for each other since it's both of our money.
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  • K
    Dedicated October 2019
    KAREN ·
    • Flag

    After marriage, we opened a joint account for all of our wedding money. THis is our house and rainy day fund.


    We both kept our separate accounts, and I highly suggest doing the same. While you marry someone with the intent of forever, statistics don't lie about the divorce rate. Just in case, it's always best to have your own money readily available (and trust me, I'm wildly in love with my husband and definitely do not want to get divorced).

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  • Watts
    Super March 2020
    Watts ·
    • Flag
    He just closed his account and moved everything over to mine. So we share checking, savings, and we have our separate credit cards that we already had. I think it's easier to just use the same acct and not have to worry about multiple checkings and transferring, etc.
    • Reply
  • Kaitlyn
    Savvy June 2020
    Kaitlyn ·
    • Flag
    We combined about a year before the wedding but that was mainly due to buying a home together and it being way easier than venmoing money back and forth. We just went to a bank and opened a savings and checking and had our funds transferred over. There really isn’t a right or wrong with this. I will say it’s been a process getting used to how the other manages money
    • Reply
  • Ingrid
    Super October 2020
    Ingrid ·
    • Flag
    We moved into together last August but we haven't combined our accounts. We do share the household bills, which so far works fine for us.
    • Reply
  • Jeanette
    Devoted July 2021
    Jeanette ·
    • Flag
    We've been living together five years but only now opening a joint account for paying rent, bills, travel expenses, dinners together, etc. Can't wait because I'm so sick of alternating grocery trips and pretending like that's splitting it. 😂 For now we'll keep our own separate accounts for personal shopping, personal wants, and buying gifts for each other, but we'll reevaluate later.
    • Reply
  • S
    December 2020
    Shelly ·
    • Flag

    I think a shared savings and checking acct. for daily bills, etc. Keep a separate checking acct for each of you to deposit the same amount in each month to do with what you what.

    • Reply
  • Morgan
    Savvy August 2020
    Morgan ·
    • Flag
    We got a joint account about 4 months after getting engaged. It was hard to split everything in half all of the time and we both agreed it was easier to share an account!
    • Reply
  • Aida
    Devoted May 2020
    Aida ·
    • Flag

    We're still debating if we want to go that route or continue to have separate accounts. When we discussed this years ago, I think we agreed to keep everything separate but that was years ago. We probably should discuss it again.

    • Reply
  • Nicole
    Super August 2020
    Nicole ·
    • Flag

    We got a joint bank account 7 months before the wedding. We've been sharing finances for years, but I guess we made it official this year. We also have a credit card that we share.

    • Reply
  • Rebecca
    Rockstar August 2019
    Rebecca ·
    • Flag

    We still haven't.

    We tried to open a joint account, but DH didn't have his documents together (TWICE, and I begged him to double check), so I gave up on it in a grand fury.

    We keep hedging about talking about it again...

    The problem is that I currently make more money, I'm better at math, and I just take care of nearly all the financials as it is...

    • Reply
  • L
    Devoted August 2019
    Leaves232 ·
    • Flag

    Married 5 months and haven’t combined finances yet...

    • Reply

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