Money Set Up When Married

[narz83]

I am learning from all of you here, mga sis.. I read each page. Thanks and keep 'em coming. Reall! Iniisip ko na din yan pano set up kung sakasakali kasi ngayon pa lang parang ang hirap na iraise ang topic na yan eh for me.

[Angel2guideu]

We are engaged palang, pero since naging mag bf/gf, 5 months palang kami nag open na kami ng Joint Account, equally divided [textspeak!] hulog namin sa account, kadalasan pag may extra bonuses kami we deposit it sa account..Parang training ground na namin yun pag share ng financial responsibility as a couple. Come na-engaged na kami we have to plan for the wedding, at first 50-50 kami pero si H2B nag kusa to share more than what we have agreed.. So far ok kami sa ganung set-up.. though ako [textspeak!] nag memaintain ng account namin. 

Napagusapan na namin how we will deal with our household expenses and savings pag married na. We both agreed na hati kami sa total gastusin pati [textspeak!] babayaran namin sa Educational plan, retirement plan, emergency fund and Savings.. Though ako [textspeak!] mag hahawak ng money para distribute sa mga bagay-bagay.. I hope this set-up will work for us, kasi syempre [textspeak!] sobra sa mga sweldo namin its up to us how we will spend it....

Depende kasi talga kung ano yung mapag uusapan nyo about handling your finances as long as dapat may trust and confidence kayo sa isa't-isa, and tulungan in the end

[caterpillar-girl]

even before we got married, we agreed to pool our salary together then divided it to -
savings
expenses
spending money for me
spending money for him

savings is sacred, will use that for big purchases like a house. expenses is everything we need everyday as well as holidays. spending money is for anything we want.

this has worked so far and we don't even fight about money.

We have a similar set up. We just got married but before that we already set up a joint checking account to pay for our wedding needs. We're also setting up other joint accounts, for recurring expenses, for big spendings, and for savings and investments.

I'm the only one who still gets to have a separate account, which is fine with him and which he's completely aware of. But we plan to use all our joint accounts to pay for everything, from utilities to big expenses. I'm the one who makes sure all our utilities are paid, which is fine, because transactions are so convenient with all these online banking systems. I hold all the check books though, all of which need only one signatory, so I can technically rob him of all his money haha. I spend about 5x more than my husband, hehe, but he doesn't care as long as the bills are paid, we have savings in the bank, and we don't incur bad debts.

I believe in the power of joint accounts for married couples. Not only is it more streamlined, it forces us to be more invested in each other, financially and emotionally. For example, I use our joint account to pay for my Pilates classes, which is like 20K every other month. I have scoliosis and it's helped me a lot. My husband's now more aware of my progress and my health. For my part naman, I'm more aware about gas usage,  because we use the joint account to pay for gas and car maintenance. Before I never cared about such things much.  It only works if there's mutual respect between the couple and if both are willing to compromise. I'm learning how to curb my spending a little because there are priorities now that I didn't have when I was still single.

Hope this helps!

[baby.girl]

I have always been quite frugal and wise with my savings and expenses.  Owning several credit cards does not encourage me to spend more than what I could normally afford.  Now that I'm married, we have a joint account and just like most of you, I also have a separate account which I plan to use as part of our future savings, provided we don't part ways, as it is under my maiden name and my brother's name for my own protection   My husband is the one making deposits in our joint account, and that is where we get our daily expenses.  Beyond our maintaining balance, we would open a time deposit for savings again. 

I haven't done online payments yet, the SOAs are delivered to my husbands office, so he just tells me if I have to issue a check, and his secretary is the one making all the payments.

[imaevelasquez]

We're not married yet pero we already have a 4-month old baby. Our current setup is kanya kanya pa lang kami. By the way, ang sahod niya is about 3-4 times ng sahod ko. We live with my mom's house kaya nakakatipid pa kami sa expenses. I pay my cc bills, DSL, yaya sahod. Then hati kami ng mom ko sa water bill, sa gas and bigas. Siya naman sa electric bill, groceries, vaccines ni baby, sa cc bills niya.

How do you arrange with your husbands mga mommies? Kasi sobrang kuripot niya and I feel he doesn't like talking about money as if ang pera niya ay gusto niya siya ang magmanage kaya minsan if may additional expenses at home nahihiya pa ako magsabi sa kanya na kelangan ng pera. Minsan sinasabi niya pa saken, "bilhin mo na yan, bayaran mo na yan" wherein fact siya naman ang may malaking sahod samin.

[PrincessSarah]

Sa amin naman ni hubby is what's mine is mine tapos sya na lahat sa expenses. And he also makes deposits in my atm and I don't question na sa matitira sa kanya. I'm not good at making budgets kasi, I'm also an impulsive buyer. 

[hakunamatata]

going 2 years here.. Our practice is combined ang salaries namin then separate sa mga payables (house amortization, utilities (light, cable, telecommunication and network), and credit cards), savings, paluwagan, my mom's share (i alot a portion of my salary sa mom ko). Then kung ano tira yun ang for our daily expenses (transpo, food, groceries, medicines, other extra curricular activities). Since may car si hubby ang in-charge for the maintenance and gas. Hindi kasama sa budget kasi galing sa other income ni hubby. Yun ang hindi ko pinakikialaman.

[shegie_285]

I agree with sis caterpillar-girl re joint accounts. It strengthens your relationship, be more invested with each other, more transparency din and you begin to share common goals. I used to be magastos when we weren't married yet, but because he isn't magastos, I learned how to control my spending. Then we always talk what we want to have and our plans so we save together.   

[hakunamatata]

^ re joint account, meron din kami start nung mag bf/gf palang kami, dun kami nag simulang mag ipon para sa travel, wedding at nahuhugutan para sa mga biglaang gastos like medication and hospitalization. ako ang taga tago ng passbook at walang ATM kasi mahirap na matukso so monitor namin ang bawat pasok at labas ng savings namin.

[Priceless]

My hubby and I don't have joint accounts, and in the foreseeable future, I don't think we need to. He and I are very prudent when it comes to spending and investing. We obviously trust each other a lot - and we both know what kind of lifestyle we like/try to live by. I would say that we have never lived beyond our means even as single people. We don't really maintain a budget - he pays for our house, I pay for the utilities, and sometimes he pays for the grocery bills, restaurants, sometimes I do - depende kung sino lang ang unang "bumunot". He pays for the major travel expenses (flights, hotels, etc), I pay for meals or other expenses incurred during the travel. But the point is, neither of us is a "makwenta" sort of person - even though he earns and contributes so much more. I am glad to be in a position where we don't have to worry about or fight about money.

[MaitaOfMakeupOnDemand]

My husband and I are very traditional. We do it the way my mom and dad did in that 100% ng salary niya binibigay niya sa akin (then I combine with 100% of my earnings) then I allocate the budget for our wants and needs...

[nicoletta]

Minsan sinasabi niya pa saken, "bilhin mo na yan, bayaran mo na yan" wherein fact siya naman ang may malaking sahod samin.

How much are you expecting to get from your husband?  Diba malaking expenses din ang groceries, vaccines ng bata, milk, yun na ang bulk ng major expenses ng isang household diba?

Usually bf/ gf palang pinaguusapan na kasi yan.  A guy will feel more comfortable in giving you money if he feels na maingat ka sa expenses and that you make a sizeable income yourself.  Pero depende yan sa asawa, meron iba kasi kahit housewife may binibigay lang din talaga na allowance for personal and home use.

[mc21]

.. Give the money to wifey, sya ang budget secretary.
.. cemtralized ang Fund, madaling I manage.

[nicoletta]

^ Good job!  That's the correct way to go

[imaevelasquez]

How much are you expecting to get from your husband?  Diba malaking expenses din ang groceries, vaccines ng bata, milk, yun na ang bulk ng major expenses ng isang household diba?

Actually sis, sa isang month, yung groceries na sagot niya is good for a week only. The rest of the remaining weeks kami na ng mom ko, hati kami. Wala naman kami problem sa milk kasi I breastfeed our child. Wala siya inaabot saken na any amount from his salary. The savings of our child, ako din ang nagdedeposit dun from my own salary.

[m_lim]

IMO, kung kaya naman ni hubby ang expenses ng family, let him shoulder everything.

 kasi yan talaga ang papel ng padre de familia and nakaka boost ng ego nila na kay niyang buhayin ang pamilya.

pero kung hindi kaya, syempre kailangan ng wife tulungan.

[freejein]

Going 1year pa lang and we share every expenses from apartment rent, utilities, groceries, fare going to province. We have JA where we allot a small portion of our salaries. Me kanya kanyang savings. Yung salary niya sa kanya lang and ganun din sa akin kasi I still give sa parents. And then me savings din si baby. If we go out, usually he pays for it. Minsa, ako, if me sobra sa allowance hehe.  it works for 7s.

[Pretty_aye]

we were a one year married,
During bf/gf days we bought a condo monthly amortization was equally divided by two, pero this was under my name. during wedding preps, I have a fixed monthly saving na need ideposit sa joint account namin. si hubby naman sa major gastos since may ipon na siya before pa. Now that were married combined salary kami but less 5k and allowance each before putting all together. 5k is for family each side para pag may mga extra extra sa side ko my budget na same way sa kanya para hindi na kami coconsult to each other like si MIL was asking for ganito etc.

[BDJ]

Combined ang money namin though I asked my hubby that I must have own account lalo na from Odesk ang sweldo ko. Saka siempre ayaw naman namin na iisa lang ang account namin tapos dala dala pa kung saan. We still need the security pa rin.

Yung mga natanggap namin na gift during wedding pang ipon na for our baby.

[crzysxycl]

^wow, i salute you bro!

kami naman may certain amounts na contribution for our joint account and budget para sa mga gastusin sa bahay. then yung tira sa salaries namin, budget for work saka for our personal savings. kaya inggit na inggit ang SILs ko sa akin kasi i get to buy what i want. kahit minsan kokontra asawa ko, wala pa rin syang magawa kapag gusto ko kasi it's MY money. ILs ko lang naman nag iisip na pera ng asawa ko ginagastos ko sa mga pinagbibibili ko. sorry nalang sila, i don't owe them an explanation.. i've learned na kapag ang tao inggit na inggit sa yo, the best way para magantihan mo sila is inggitin mo pa lalo.