Money! Dinero! Geld! I feel like I have been talking about money a lot lately. With the wedding next weekend (!) Jason and I are proud to be paying for the entire thing in cash! We did get help from our families but also have been saving hard core for almost the last year. Staying out of debt is really important to both of us and a wedding just didn’t seem like a good time to bring some debt into our lives. I am looking forward to not having to save for it anymore though and having some extra cash, for important things, like shoes and highlights.
We have also been talking a lot (like months and months) about how to manage our money after the wedding. This was a really big one for us as we are both pretty independent and been managing our own accounts and expenses for quite awhile. I think we have found a good compromise and system to take care of all of the household expenses within our budget but still free up some money for ourselves, with no questions asked. I am sure there will be a few meltdowns along the way, but overall, I am pretty confident we will get through this ok.
So this month, I will be focusing on balancing our household budget with our new and shiny shared checking and savings accounts. I will try to remain calm and not get all crazy over “my” money, because soon it will all be “ours.” I will keep you all posted over the progress we make in the next month in bringing over the mortgage, bills, automatic withdraws and whatnot into one account, exciting stuff, huh?
For all the ladies that have shared homes, I would be interested to know, how do you manage your money for the household expenses?
Subscribe to:
Post Comments (Atom)
While everything is ours--we kept our own checking accounts. It just works for us. The house stuff we both just take care of together (cars, insurance, kids school, groceries...)
ReplyDeleteWe don't have a ton of bills & really limit credit so it's pretty simple each month.
The biggest change since we got married & started a family is that our money is not our money- it belongs to the kids, house, the dog then us.
Congrats to you both for paying for your wedding in cash!! That is a great way to start out your marriage!!
His, mine and ours. We have joint checking and savings, and also our personal ones. A set amount goes into the Joint from which all household expenses are paid, and then we use our personal accounts for "mad money" - shoes, purses, whatever. It saves a lot of arguments. My parents have done this for 30+ years, and we've been doing it for 12 now. Works great!
ReplyDeleteCassie that's wonderful! My husband and I also paid for our wedding in cash as we planned (9 month engagement). In the end, I only put our honeymoon on a credit card and it was paid within a month of returning home.
ReplyDeleteWhen we became engaged we already lived together but decided to open a joint account. Rather than put all of our money into it we put in 60% of our respective earnings. This was enough to cover all of our shared expenses and then some. It also gave us the independence to spend the leftover on what we wanted with no arguments. Now we only share one checking and one savings account, but thankfully we don't dissagree too often on spending. We're both thrifty!
xo