How should finances be managed when you get married and have a dual income?

NoThisIs-Patrick · 2020-01-21T23:38:48+00:00

Do not ever fully combine finances. Ever. And make sure any major banking transactions have to be signed by both parties or the contracts with the bank are void. Make sure this is in clear print so the bank can't go back on this. You want it ironclad so if you ever get screwed you can have a lawyer go after the bank.

When my mother told my father she wanted to split, he went to the bank and took out a huge line of credit under the house. He told my mother she had no reason to complain because he had "left her the house", but there was no way she could have afforded those payments on our home. The bank took the house after a couple months.

I recommend separate accounts, and one joint account for bills and household spending. Whatever amount you decide from each of you is automatically transferred into the joint account every month.

2020-01-21T23:42:11+00:00

My grandparents never had a joint checking account in their 60+ years of marriage.

StillAwakeofCourse · 2020-01-21T23:38:40+00:00

In my ideal scenario I'd be living in a separate house ha.

blackopium777 · 2020-01-21T23:50:53+00:00

When I started my job as a MUA, my husband got a huge promotion. He pays for everything. I worked in my own business and could put all my income aside as savings (for myself only he doesnt have any way to take any of that money). I buy him presents with my own money, but thats basically it. I have an additional card to his Bank Account that I can use freely. My husband explicitly wanted me to have savings, he acknowledges that I am at a financial disadvantage once I get pregnant and take care of the children (currently pregnant and due in February). Obviously everyone has to deal with that differently and my husbands income is REALLY good, so he can afford to take fully care of me and his child. But in general I think that males have to spend alot more on living expenses as women. For obvious reasons.

theghettogirl · 2020-01-22T01:49:12+00:00

Keep a bank account he can't access. Make it isn't at the same bank your combined accounts is at, because banks will merge the accounts or accidently give info to your so. In certain countries your legal spouse has access to your other bank account. You can make a clause that no one can take out an x amount of money unless you're present & with a password. Always have f off money. Never co-sign, always have YOUR name on the mortgage or car you want to buy. Never do business together or leave your business in your spouses name. Keep an eye on household spending in case your partner develops a bad habit and is trying to hide it through purchases. Put money away for your retirement first. Put money away for kids in case he becomes a deadbeat.

crepesandmacarons · 2020-01-22T04:44:18+00:00

Correct me if I'm wrong but you brought your husband here on a k1 visa? Pretty sure you're financially responsible for him for the next 10 years whether you stay married or divorced so I don't even know if theres a point in you hiding away much money. Financials are the #1 thing you need to discuss and agree upon before getting married so all I can say is good luck girl.

Title	How should finances be managed when you get married and have a dual income?
Author	crepesandmacarons
Upvotes	12
Comments	14
Date	January 21, 2020 9:44 AM UTC (6 years ago)
Subreddit	Posted in /r/FemaleDatingStrategy
Original Link	https://old.reddit.com/r/FemaleDatingStrategy/comments/ersf0e/how_should_finances_be_managed_when_you_get/
Archive Link	https://theredarchive.com/r/FemaleDatingStrategy/how-should-finances-be-managed-when-you-get.684340 https://theredarchive.com/post/684340

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