After I graduate from school, my girlfriend and I are planning to move in together. We want to keep finances relatively individual in order to both learn how to manage our own lives. How should we set up our bank accounts to handle bills or house expenses? If we set up a joint account, should all three accounts have both savings and checking? What about emergency funds?

0
0
Marked as spam
Posted by Robert Tomcik (MONEY FORUMS: 4, Answers: 0)
Asked on March 2, 2016 11:56 am
62 views
0
Private answer

I agree with Beth. My boyfriend and I have been living together for over 2 years and we keep all finances separate. We’re both on the rental lease agreement, but the landlord gets checks from me, and my boyfriend just writes me a check for half. We split up utility bills, internet and TV bills, etc. and then when it comes to groceries/household shopping we essentially just go the “every other” routine. If I bought groceries last month, it’s his turn this month – that kind of routine.

In regards to savings account and emergency funds, we each do our own management.

Marked as spam
Posted by Natasha Cornelius (MONEY FORUMS: 0, Answers: 9)
Answered: March 7, 2016 3:59 pm
0
Private answer

I do not see a reason to have any joint accounts. Agree ahead of time who will pay for what, or split everything down the middle and you each by half. With online billpay and various methods of paying other people electronically, it really isn’t that hard. Have both names on the lease. You should each be building your own emergency funds (savings accounts – something harder to access than your checking account).

Marked as spam
Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: March 5, 2016 4:14 pm