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setting up accounts

Discussion in 'Money Management' started by Triu, 24th Apr, 2007.

  1. Triu

    Triu Well-Known Member

    Joined:
    1st Sep, 2006
    Posts:
    161
    Location:
    WA
    Hey everyone!

    Anyone have this situation? Just married want to set up accounts for myself and wife. Should we have a joint working account for say bills, mortgage repayments etc and have two separate personal accounts.

    My wife wants to spend her money and control it and wants to buy what she wants. I have no problem with that as i would like to buy what i want when i want also.

    Any ideas how you guys arrange with your spouses?

    thanks for any help!
     
  2. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
    1,172
    I would answer you...but I have to check with my wife first :D

    It's a personal thing.

    Provided you've got your accounts clean to ensure no mingling of money which is or isn't derived and used for tax deductible purposes as NickM suggests, then it's up to you I guess.

    N
     
  3. voigtstr

    voigtstr Well-Known Member

    Joined:
    24th Jan, 2007
    Posts:
    679
    Location:
    Hobart
    My partner and I got married this year in feb. We are keeping our accounts separate. If she buys something for the both of us (like groceries) I simply transfer half to her by electronic banking. Same goes if I pay a bill, she'll transfer me half.
     
  4. pjb89

    pjb89 Active Member

    Joined:
    1st Sep, 2005
    Posts:
    29
    Location:
    Abu Dhabi
    Hiya

    Yes it is definitely a personal thing. In our case, when we moved in together many many moons ago now :D , we set up a joint account and have done so ever since.

    Pedro
     
  5. Aquila

    Aquila New Member

    Joined:
    25th Apr, 2007
    Posts:
    4
    Location:
    Cairns, Qld
    Hi Triu,

    My Girlfriend and I have a joint account as well as our own separate savings accounts. This account is accessable through internet banking and is set so when we choose cheque when paying by eftpos the money comes from the joint account. We just each add our budgeted amount fortnightly to cover bills and fuel and the odd romantic dinner!
    hope this helps.... we find it easier than trying to remember who paid for what.

    cheers
    ps we use westpac (not sure how other banks work, but probably the same)