[ryandrake]

That's the simplest way.

Honestly the whole "my money, your money" thing, with separate accounts, and you pay for this, and I pay for that, and oh i can't buy groceries with your money and vice versa, it just seems so... unnecessarily exhausting. When we got married, that's basically entering into an agreement that says we're one entity. So we just treat everything we own as owning it together. If we were ever to divorce, the State of California would treat everything we own as owning it together, so why complicate things with three bank accounts and negotiating and borrowing and who pays for what?

And before you say, oh that's easy if you make equal salaries, ours is a single income household, and it still works fine.

[scarface74]

I’ve been married for 10 years we manage our separate accounts. But they are all joint accounts. She has “her” bills and I have “my” bills. Those are just bills we take responsibility for.

When she was working, I transferred money to “her” account when needed to pay “her” bills. We also have a separate account for “household” spending like groceries. I deposited money into that account when I got paid. But she manages it.

If she wants me to pick up groceries out of the account. She would give me a list and either she or I would transfer the money to “my” account.

[capableweb]

Instead of transferring money back and forward, why not have one account that is "our" money that both of you spend from?

[scarface74]

That defeats the whole purpose of separate accounts. I know exactly how much I can spend at any given time just by looking at my account. It’s the lack of needing to coordinate anything. I know that the only way that money will leave that account is if I spend it. We see each other’s accounts so it isn’t secret.

[kyawzazaw]

Doesn't a credit card with authorized users do exactly this?

[scarface74]

Then it’s the issue of overcharging. You know when your checking account is $0 that you can’t spend. Besides, many bills can’t be paid with credit cards.