How do married folks manage finances ..keep them separate or everything common? Have heard married people splitting rent and stuff and not sure I fully understand how common are situations like that.

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Wow Pwc1, don’t paint us all with the same brush, ma’am. I am able to do complicated things like managing finance along with my husband. OP, my husband and I split utilities and rent as they are fixed costs. Rest we just alternate the payments. For example this week he got the grocery, next week I will and so on..

likefunny

Pwc1, I handle my finances. Don't need help from my husband.

likefunny

Pwc1 - please don’t generalize on behalf of an entire culture 🤦🏽‍♀️🙈 the “husband manages” mentality eliminates decades of progress.

I can respect people’s individual preferences, but you can’t say someone “must not be from India” if the female of the household has learned to manage household financials. 🤔

D3 - 🙌🏼

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Are you from India ? Looks like not !!!

Generally the male manages it all keeping life of female simple ... I'm happy with my husband managing it that way

Other option is to have a joint account

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OP- my husband and I are married for 9 years with no kids. We both have good careers and been financially independent. We hold our individual accounts. We never talked about holding a joint account. He pays rent and insurance and I take care of utilities, lease and groceries.
@PwC1- इंडिया छोढ दिया लेकिन सोच नहीं 🤦‍♀️

likefunny

My spouse and I have one common account and a personal account each. We deposit 50% of our salaries in shared and rest in our respective personal accounts. Have a creditcard with add-on tied to the shared account. All our monthly bills and day to day expenses including Mortgage, trips is paid from shares account. Our personal shopping etc is done from personal stuff. We both are happy on this aspect at least ;)

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My husband and I spend pretty equally every month, we save a certain portion of agreed salary and we leave some portion for individual's monthly expenses. We have one household p&l but no joint accounts etc. If either of us decide to spend more than 50 usd at a time we ask each other permission. Else, in the money available for spending by individuals we are pretty flexible.

likesmart

P1 - wow, just WOW!

likefunny

I guess everyone is different depending on where they grew up. In my case there is no you and me just we.

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One joint account for everything. Both earn/spend as we please. Trust each other to make the right choices.

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God some of the men in this thread..... 🤦🏻‍♀️
Looking at you @PWC1 and KPMG1. Your spouses aren’t children

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Since my wife doesn't work now I've set up accounts for her, put money in a IRA account, she has full transparency to my accounts and we always ask each other's permission for any reasonably large expenditure (>50$) when she was working she had her own bank account too- but I had full visibility, same rules applied, and she contributed proportionally to expenses.

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I think having common finances makes sense after marriage ..but have heard of people paying their share of rent/ investing separately as well recently which just seems different .. so wanted to see if that is a broader trend or just an exception

Also to give some more context, we lived together before marriage as room mates, so guess some of our habits have just carried on

We keep savings in SO's account. Manage expenses out if a joint account. If SO ever divorces me I'm fucked.

SO homemaker, I'm the earner. This was decided when we married.

D3 seems a lot smarter!

I generally pay for all costs, save wife's her full salary. We switch who pays rent whenever we have to pay by check

My wife doesn’t work and I let her manage our account but needs an approval for anything over $100 :)

Pwc1 is a woman 🙈🤦🏽‍♀️

We hold a joint account. SO doesn't work and has her own separate account as well. I manage the investments and fixed expenses. She manages groceries etc. She has full control over everything. We discuss all expenses over $50. We also give each other an annual budget to spend over personal hobby stuff.

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