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Thread: How do you separate bills at your house?

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    Canadian Genius Abby5's Avatar
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    Just wondering how you separate the bills at your house?

    Do you put everyone's pay into one account?
    Do you pay for some bills and others pay for the rest?
    Just wondering what works for everyone
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    Mastermind Natalka's Avatar
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    I'm not working now, but when both of us were - all the money went into one joint account, all bills got paid out of that account. Didn't matter who got paid more, it was all in one big pot since we're married.
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    Mastermind Shwa Girl's Avatar
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    Quote Originally Posted by Natalka View Post
    I'm not working now, but when both of us were - all the money went into one joint account, all bills got paid out of that account. Didn't matter who got paid more, it was all in one big pot since we're married.
    This is the most efficient way. Financial experts recommend it too. Also, for "spending" money, the family decides on the amount for each person. The spending money can be deducted at each pay period and transferred to a separate account.
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    Mastermind Natalka's Avatar
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    We have no separate accounts. For something like buying gifts, we just take out cash, so the other doesn't know what was purchased or how much it was. Or, really, we are grownups, so if one of us sees how much was paid, it really doesn't matter!

    However, it's all based on trust - each has to know exactly how much is in the account, know what the expenses are, and how much money is left as discretionary.
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    We also have everything joint in our household regardless of who is earning what. This works well if you are in general agreement about spending and saving as a couple and there is complete trust between you. However I know that some couples have a house account with an agreed amount from each put in each month and then some separate savings etc. I personally think you can spend a lot of time and energy discussing who is paying for what but that is just me.
    Last edited by lizzie bargain; Sun, Dec 2nd, 2012 at 09:57 AM.
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    Junior Canuck LovelyLaeticia's Avatar
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    I'm not working now, but even when I was it was a joint account from the time we got married. We don't have an agreed upon spending limit. For gifts we just use the Visa and tell each other not to look at the statement until we have given the gift!
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    I've been married five years and have three joint accounts: Chequing, savings and emergency savings.
    We have an excel spreadsheet that shows income minus expenses, what days we get paid and what days bills are due. We put all of our purchases on a credit card that we pay off in full before it is due. We usually pay all of our bills on the pay day before they are due. A certain amount is transferred to savings each pay day as well and the emergency savings is not used ever.

    This system works well for us. The only problem we encountered was that we did too much compromising on what we spent money on. Each of us didn't want to spend money only on ourselves, so we ended by a lot of joint things/activities that both us didn't really want, but it felt like we were meeting in the middle. If we wanted something for ourselves, we would ask. That wasn't working for us. Recently we decided each of us is on an allowance. We get a certain amount of fun money each month just for us to spend. And when it's gone no more until next month. I find this really works for us because we don't feel guilty spending and you don't have to worry about what the other person is spending. All big/joint purchases are still discussed though
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    We each have our own chequing and savings accounts, knowing way too many people who have done through bad divorces and the money was a mess to sort, it works better for us to have our own financial independence.
    We also have a joint account that we put money into for bills, emergencies and groceries, eating out etc when we are paid. Any large purchases, we both just transfer money to the joint account which also pays our joint credit card.
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    My husband and I have been together for over 10yrs already. We have never had a joint account. We split up the bills and each pay our own. If one of us needs more money because of various changes in expenses, then we tell the other and have them help that month. For example, my husband is responsible for most of the household bills. I pay for all of the groceries, my cell phone, my credit card (which I pay off in full each month), my own vehicle expenses, and my student loan.
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    Smart Canuck anastasia1009's Avatar
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    Quote Originally Posted by Angela273 View Post
    My husband and I have been together for over 10yrs already. We have never had a joint account. We split up the bills and each pay our own. If one of us needs more money because of various changes in expenses, then we tell the other and have them help that month. For example, my husband is responsible for most of the household bills. I pay for all of the groceries, my cell phone, my credit card (which I pay off in full each month), my own vehicle expenses, and my student loan.
    That is what we do too been married 3 yrs and been doing it since we moved in. I pay for my cell, the groceries and the One Bill for Bell and he pays for insurance, condo fees and power bill. Always works out and every bill gets paid.
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    Senior Canuck linnyeg's Avatar
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    We each put 75% of our pay into the joint account and keep 25% for our own personal spending/saving etc.
    All of the house/joint/kid purchases come out of the joint account. Our own clothing, hobbies etc come out of our personal accounts. It's been working well for us for the past 5 years.

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    KanewtZ kanewtz's Avatar
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    Joint accounts where pay goes into...then that is used to pay the bills.
    All extra money is put on our house.
    Matt

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    .
    Last edited by lecale; Mon, Jan 19th, 2015 at 04:55 PM.
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    Smart Canuck matrix82's Avatar
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    I pay insurance, car payment and maintenance for one vehicle that I drive, rent, electricity, phone, cell phone (my work pays a portion of the phone and rent). He pays for most of the groceries, maintenance on the car he drives (which has been paid off), and he gives $500 towards the bills. I think it works out to be about 60% me, 40% him.
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    Smart Canuck GeorgiaK's Avatar
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    He pays the mortgage, insurance, utilities and his car expenses. I pay for the groceries and household shopping, DS's stuff, my car, etc. We put money in a joint account for emergencies and to pay for DSs daycare.

    I prefer this arrangement as it permits me to have my own spending money without having to justify it.
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