Engaged Couples And Money

[whitestripe]

snafu: this is what we were thinking of doing too. DF earns a lot more than me, and has the potential to earn more. I at the moment dont have any qualifications or degrees, but in the future i may earn the same or more as DF. CUrrently we can split household expenses and mortgage down the middle, and DF just pays more toward the mortgage principle.

[flipchick1127]

As a newlywed, I can vouch for the effectiveness of joint accounts. They make it so much easier and my husband and I are both on the same page about our finances. Don't open them until you are married though. The one situation where joint accounts might not work is if one person likes to spend more than the other. In that case, I would suggest having one joint account where the bulk of your money is kept, and two separate checking accounts--one for each of you. Every paycheck, an agreed upon amount will go into the separate accounts. That money can be spent by each person however he or she wants. That money does not need to be accounted for to the other person. I like the idea of this method for couples who disagree about finances; however, I still think that completely joint accounts are the best option for most couples.