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View Poll Results: Do you mix your finances?
Not applicable (as I'm single and not involved with anyone) 12 7.36%
No (Finances 100% separate - Yours is yours, theirs is theirs) 12 7.36%
Kinda/Sorta (Finances mixed in some manner. Feel free to explain) 29 17.79%
Yes (Finances are 100% in "one shared pot") 110 67.48%
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Poll:Do you intermingle your finances? How?
Old 04-21-2012, 04:17 PM   #1
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Poll:Do you intermingle your finances? How?

Another recent post got me wondering how the folks here handle their personal finances.

Please vote in the poll. Feel free to explain further in a post.

omni
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Old 04-21-2012, 04:31 PM   #2
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You forgot "What's mine is ours, what's hers is hers".

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Old 04-21-2012, 04:37 PM   #3
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Originally Posted by ERD50 View Post
You forgot "What's mine is ours, what's hers is hers".

-ERD50
+1

Our IRAs are separate (legal requirement, right?) but everything else has both of our names on it but belongs absolutely, 100%, no question about it, without a doubt, to HER. Just ask HER.......
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Old 04-21-2012, 04:55 PM   #4
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Our IRAs and I-Bonds are separate as per legal requirement but everything else has both of our names on it. Also, my pensions are paid into a joint bank account.
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Old 04-21-2012, 05:00 PM   #5
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You forgot "What's mine is ours, what's hers is hers".

-ERD50

This sums it up.
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Old 04-21-2012, 05:07 PM   #6
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In general we share income 50/50. Bonuses go only to the individual, stock options go towards retirement. We hold accounts for retirement and shared expenses as well as accounts for ourselves and the kids. Retirement and shared expenses are paid first, DW and I split the rest, and the kids get/used to get a split of that as well. We have an adjustment for car mileage since we ended up driving much different distances to work. Most of our living expenses are shared, though car expenses are paid only as a fixed rate per mile. After that, it's spend what you've got in your individual account. I tend to go for the expensive cars and audio gear, so DW's balance is higher than mine.

We've done this since we got married, 30 years ago now. We consult for all out of the ordinary common purchases, but buy stuff using our own money at will. I've even borrowed from DW in the distant past to buy a new car and made monthly payments with interest.

All the retirement money is considered common, regardless of whose name it is in. We've continued to add to our individual accounts while DW is still w*rking (I told her to quit years ago, but she still enjoys it). After that it'll pretty much be 4% rule with the individual accounts for individual spending. Though we can go for years without spending anything like that much. Since they are not in the main retirement plan, they also act as a margin of safety and long-term care self insurance.
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Old 04-21-2012, 05:41 PM   #7
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Our money would be considered "joint" for the most part but when it comes to spending it, well hubby is the winner in that dept.
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Old 04-21-2012, 05:57 PM   #8
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All in one big pot for us. Do maintain separate his/her "mad" money accounts, amounting to a few thousand dollars.
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Old 04-21-2012, 05:59 PM   #9
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We got married 32 years ago, did anyone have separate accounts back then when dinosaurs walked the earth?
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Old 04-21-2012, 06:00 PM   #10
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We do have accounts in our names separately (IRAs, etc.) but we manage it as one pot. Always have.
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Old 04-21-2012, 06:07 PM   #11
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I suppose it is clear to everyone that except in cases of separate property that has very carefully always been kept separate (and often not even then), if push ever comes to shove it will be up to the courts to decide who gets what and the fiction of separate accounts will quickly dissolve-even as to retirement accounts. They may be separate by law, but they are not separate like "I can take mine and go away".

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Old 04-21-2012, 06:11 PM   #12
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Practically, we consider that everything is ours.

Technically though:
Retirement accounts: separate
I-bonds: separate
Taxable investment accounts, house, cars, US bank accounts: jointly owned
European bank accounts and real estate: in my name only
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Old 04-21-2012, 06:48 PM   #13
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Same as most of others; all finances "ours" since prior to finishing our grad schools many years ago. Retirement accounts nominally in each name; consequently, we also have a "normal" vanguard account in the name of the former SAHD (me) to position us for full use of estate/inheritance tax exclusions in the event of an errant truck.
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Old 04-21-2012, 07:53 PM   #14
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We do have accounts in our names separately (IRAs, etc.) but we manage it as one pot. Always have.
+1 for 30 years.
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Old 04-21-2012, 08:27 PM   #15
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We have a joint account and we each have a separate account. We pay a set amount into the joint account for household expenses (covering things from the mortgage to takeout food and groceries). We do as we will with what is in our separate accounts.

I wanted it that way because my first marriage (as a very young adult) ended with me holding the bag financially for a huge load of debt I hadn't run up. So opening a joint account was a big step of trust for me.

When my husband (current husband) and I first moved in together, I was the one who managed the household budget and paid the bills. A few years into the relationship, after I was promoted and started regularly working 50+ hours per week, he agreed to take that on. I recently learned (meaning I finally asked for details) that my husband stopped keeping his money separate, and that for years what we have REALLY had is a joint account, with me having a separate account on the side. Heh.

I don't see ever doing away with my separate account. While I have pretty much worked through my issues from the first marriage, and trust my husband (yes, we even have a joint credit card or two, though we do not use them except for some recurring charges), it is important to me to have a budget that includes money that is solely under my control. The amount I contribute to our joint account varies from year to year, depending on what mutual or individual spending/savings goals we have.
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Old 04-21-2012, 09:51 PM   #16
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Spouse and I still have separate checking accounts, dating from the 1980s when we were stationed a couple thousand miles apart. Since then we've been reluctant to mess with the military's pay system, and we plan to continue this until we're dead (or NFCU goes out of business).

We also have separate credit cards. I know she has at least one and I have three. Not too hard to track.

Everything else is joint, or POD/TOD.
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Old 04-21-2012, 11:58 PM   #17
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We have a joint account where both of our salaries are deposited, but we each have separate accounts where our monthly 'allowances' are deposited via transfer from the joint account. The allowance can be spent on whatever we choose without consulting the other.
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Old 04-22-2012, 04:11 AM   #18
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We also commingled our funds as our income is derived entirely on my military pension and later on my social security (she never worked 40 quarters so gets 1/2 of mine). Like IndigoMule I was burnt badly on my second divorce as was my wife on her second divorce as well (third marriage for both of us). However, we are both givers so this is not an issue and really we are secure enough in our relationship to be worry free on that score. She is an excellent financial manager and pays all the bills, manages the money transfers, taxes, et.al. Our respective properties are covered by prenups but once we sell them (we both had 2 houses coming into the marriage) the proceeds get commingled into our brokerage accounts. The 401k's are legally separate but I have her designated as the manager as it is handled much like a brokerage account with her doing 3 day trade cycles on the market (although 1 day is possible if you only use 50% of the money). As a successful Day Trader she manages roughly 100% profit a year so I am not complaining. We do not ever exceed my pension for expenses and we won't get SS for another 3 years so beats me what we will do with all the money. But it is her joy to do Day Trading and as we don't need the money it is a risk free hobby for her. She maintains it is for emergency use only. As we have no debt whatsoever, no property taxes, and relatively low expenses it is truly wonderful to be free and have no financial concerns at all. I actually hate dealing with money matters and she likes it so it is an excellent partnership in that regard.
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Old 04-22-2012, 05:42 AM   #19
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We shared our finances since day 1, back when we had nothing to share and barely enough for even one account. The only seperate bank accounts either of us had were payroll accounts or HSA.
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Old 04-22-2012, 06:15 AM   #20
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We shared our finances since day 1, back when we had nothing to share and barely enough for even one account.
Same here.
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