How do you and your SO do finances?

[Ga-girl]

Split

Joint account

Split but switch off paying for dinner, activies, etc

SO pays for just about everything

[midnightmoon05]

We have 2-4 bank accounts. 2-3 credit cards.
he is stay home dad and takes care of all household stuff and manages all the bills - lawn, cleaning services, food, groceries, bike ride, enjoy life lol…etc. I work full time and love what I do till I retire.

(he worked 25 years. for a company… so you can say that he is retired)

we use our credit cards mostly and paid off monthly.
we discuss and check our income/expenses regularly. I think we are okay. We have money put aside for kids college. I don’t care if they go to college… just an institution to follow…they have a brain and with our guidance… they will be fine in life.
I think we also have money for their first apt./house. But they know they are not obligated to use it. They want to make their own miney.
I think we have our retirement planned out. But I am really bad with numbers.
I have a pension, he has something but can’t take out till 591/2.
we also have SS later on.

we are financially free and live a good lfe.
we also allocate money for our yearly travel.

I often wish many in the US can do the same.

[Ga-girl]

Wow that's great!

[midnightmoon05]

You are smart to ask/think about the ear at your age.
When I was 24 I was clueless… sometimes I still think I am clueless 😂

[Razp_Sorbet]

We split bills 50/50 and groceries. He mostly pays for petrol because he uses the car more. when we order food or eat out we take turns kinda, it's not like set in stone or tracked to every last dollar. We're going to Singapore in a couple months and we've split flights and accomodation but he's offered to pay for the majority of food/activities while there as he earns over twice as much as me

[Lliam]

I had my wife's name added to the checking account that I've had for years, so we can both use the ATM card, which we rarely do.

My income from SS and pension goes into that account. My wife deposits some money into that acct every month, too.

I manage that account and use it to pay mortgage, utilities, insurance, my Medicare stuff, and things like that.

My wife gets SS and is self employed. She has her own business account and takes care of it so that her business expenses don't make my checking account confusing.

She uses that bank to pay her own Medicare and some other personal expenses.

She has a money back CostCo card that also has my name on it. We use it to buy gas, groceries and, at times, other things. She pays that off out of her income every month so as not to accrue interest.

When we have other expenses, we talk about the best way to pay them.

We also have IRAs and assets that will hopefully last through our retirement.

So, we work as a team to pay our bills, enjoy lives, and save for retirement. We're in it together.

[midnightmoon05]

Did you start withdrawing from IRA at 59 1/2?
Do you think you save a lot from Costco? As well as their gas?
We are talking about when to take out SS.

[Lliam]

@midnightmoon05. I only withdraw from my IRA when I need extra money.

My wife goes to Costco and saves money on the things she buys. Their gas is the cheapest around.

I started taking SS when I was 62. I think my wife signed up for it when she was 65.

[midnightmoon05]

Thank you Liam.
After some discussions and calculations, I would like to withdraw at age 62 as well. We are just starting to learn about what’s ahead with retirements.
I think we have had similar to Costco. The few times I visited… the lines are long so may not be worthy for us to join. Many prob. do get good discounts.

[Lliam]

@midnightmoon05.
SS pays more per month if you start receiving it later. But I decided to take the money at 62 because you never know what will happen.

My wife drives to Costo every 3 or 4 weeks and loads up on a few things. I go with her sometimes, but I agree with you. The lines are a hassle. LOL
By using that card, she gets money back on her purchases there.

[midnightmoon05]

I think the same… I may not live to 63… so I will start at 62. Who knows… it probably all add up to not much by the time I start collecting lol…
Just extra pocket change.
All these are too complicated for my little brain. Just enjoy life and die happy 😂

Costco or other big stores.. too much. Can’t finish. I like mom and pa shops.

[Guy13]

I paid for most things in my past. My house and I am not stressed about money and all that kind of thing. Money is a Tool not and End All; Be All !!!

[Apple1996]

Only my hubby works since I stay home with the kids. We mainly use a joint account but we both have separate accounts too

[Nikki1989]

My husband pays all the rent. I pay the bills and buy the food.

[LazerBean]

Joint account. He makes most of the money and I make sure bills get paid and we have enough left over to put towards savings.

[Emiliamazing]

We’ve had a joint account since before we were married. We put the money in, cover our obligations and then put some in savings.

[RobT312]

We split everything now.

i think well do joint accts once we are married

[sheikalana]

Me and my husband make more or less the same money. We save his salary and spend mine in bills, groceries and anything we wish to buy.

[jamesgoldman]

My exes paid for everything like beyond tips for the booze we drank to the meals we had to offering to buy me a £5,000 watch (which I did turn down)

[Iron_Man]

My SO is in Greece she should be coming soon 😊

[MsJackie2001]

Depends if in same house have split and joint account for electric, sewer etc vacation. Own bills be our own.

[Anonymous]

women and money ughhh