Mama Geek Posted January 3, 2011 Share Posted January 3, 2011 In your marriage, do you have your money and property separate from your spouses money and property or is it communal property? I know lots of people and it doesn't matter how long they have been married that have his checking account and her checking account or his car and her car or any number of things like that and they are serious about who's money it is. If I buy something when I am with my MIL for her that she intends to pay me back for it has to come from her checking account and she thinks it has to be made out to me not my dh. My guess is that communal property would be more normal on this site, but I could be wrong. Quote Link to comment Share on other sites More sharing options...
TravelingChris Posted January 3, 2011 Share Posted January 3, 2011 We have community property. Quote Link to comment Share on other sites More sharing options...
dcjlkplus3 Posted January 3, 2011 Share Posted January 3, 2011 Definately communal here! Quote Link to comment Share on other sites More sharing options...
Punchie Posted January 3, 2011 Share Posted January 3, 2011 Communal. Quote Link to comment Share on other sites More sharing options...
Mrs Mungo Posted January 3, 2011 Share Posted January 3, 2011 Community property here. That said, we each have our own checking accounts. He pays the bills from his. He transfers money to my account to run the household. But, we both have access and debit cards for both accounts. Having separate accounts just makes things easier from a logistics standpoint. Quote Link to comment Share on other sites More sharing options...
KS_ Posted January 3, 2011 Share Posted January 3, 2011 In your marriage, do you have your money and property separate from your spouses money and property or is it communal property? Most of ours is communal - but dh and I both have separate checking accounts in addition to our joint acct. We both earn a little bit of extra spending money that we keep separate for fun stuff, that isn't counted in the budget. Quote Link to comment Share on other sites More sharing options...
susankenny Posted January 3, 2011 Share Posted January 3, 2011 Most things are communal. My knitting and crocheting and scrapbooking are off-limits though! Sorry. I'm sure my husband feels the same way about his guitar!! lol. Susan Quote Link to comment Share on other sites More sharing options...
justamouse Posted January 3, 2011 Share Posted January 3, 2011 Communal but with mine and his. We each have a weekly cash amount that we budget ourselves so that the checking account doesn't get stupid looking. So yes, if I paid for something my mom would pay me back, but it (cash) flows though both of us so much that it doesn't matter who she gives the $ to if that makes sense. :D But everything is 'ours' and any money we each makes goes into the pot. Quote Link to comment Share on other sites More sharing options...
Rebecca VA Posted January 3, 2011 Share Posted January 3, 2011 Community, though one of us brought more money into the marriage. We have had power struggles in the past over how money should be invested and similar issues. But we still keep everything in both our names. Quote Link to comment Share on other sites More sharing options...
JoyfulMama Posted January 3, 2011 Share Posted January 3, 2011 Communal. Yet we do have joint accounts and I have individual accounts. DH has an individual account, but it's only so that he can have joint access in the joint accounts. Don't ask... long story... :glare: Quote Link to comment Share on other sites More sharing options...
KatieH Posted January 3, 2011 Share Posted January 3, 2011 Completely communal. Quote Link to comment Share on other sites More sharing options...
WarriorMama Posted January 3, 2011 Share Posted January 3, 2011 Communal here. I think you're right and you'll find more people saying that on this board than other places - because we're homeschoolers, and a lot of us have one-income families. It's hard to have 'his and hers' money when it all comes from the same place. ;) Personally, I think in a marriage it's a good idea to pool resources and plan your finances/budget together anyway. A lot of people I know who each have their 'own' money do so because they can't come to an agreement on how to handle their money. So they end up with a 'you pay for these bills, I'll pay for those ones' and other than that do what they like, never dealing with the underlying issues. Now, we both have a prearranged amount of spending money per month worked into our budget that we can do whatever we like with - so if I wanted to do/buy something non-budgeted, I would use 'my' money for it. But I don't think that's the same thing. Quote Link to comment Share on other sites More sharing options...
OnTheBrink Posted January 3, 2011 Share Posted January 3, 2011 When I was married, it was all EX's money. HE went out and worked, HE made the money, it was HIS. If I wanted something I was to come to him and ASK for it. He actually said that in a counseling session (sadly, it wasn't a premarital counseling session or things would have been much different. As in, I'd not have married him. For that and many other reasons not disclosed prior to marriage, but I digress...). This was a subject we fought over a lot, and I had my pastor on my side in this. If I ever remarry, I would expect the money to be communal, and I'd also expect to have an amount I can do what I want with without having to have a discussion over it. For example, all financial decisions are discussed except both of us can have X amount every month that's ours to do with what we like (go out for lunch with friends, buy a pair of shoes, whatever). This amount would not cover necessities, like hair cuts, or oil changes, for example. It would be free and clear and for fun and for both spouses. I would expect to discuss the purchase of any large-ticket items. Not saying this is how everyone should operate. There are too many variables and differences in marriages to lay out a "this is how everyone should live" decree, but that's how I'd like it to be, should I marry again. Quote Link to comment Share on other sites More sharing options...
stripe Posted January 3, 2011 Share Posted January 3, 2011 Both. My husband and I both believe in me having my own money (both from what I had before the marriage and what I've gotten/earned since). Quote Link to comment Share on other sites More sharing options...
Night Elf Posted January 3, 2011 Share Posted January 3, 2011 There is no 'his' and 'hers' of anything for us. Well, I do say my car when referring to the car I drive the most but only because I think it's cooler than the other car. :) Quote Link to comment Share on other sites More sharing options...
justamouse Posted January 3, 2011 Share Posted January 3, 2011 Community, though one of us brought more money into the marriage. We have had power struggles in the past over how money should be invested and similar issues. But we still keep everything in both our names. We have rip roaring fights as to how $ should be invested. Like when I told him over my dead body would we invest in Monsanto. :lol: (No, we didn't invest in it, and I was *right* when I told him to buy Ford at 1$! Neer neer!) Nuthin but fun times. :D BUt it all ends up good, you know? On the big stuff we agree. Quote Link to comment Share on other sites More sharing options...
Jennifer in MI Posted January 3, 2011 Share Posted January 3, 2011 Communal!! Quote Link to comment Share on other sites More sharing options...
Matryoshka Posted January 3, 2011 Share Posted January 3, 2011 Completely communal. Quote Link to comment Share on other sites More sharing options...
BridgeTea Posted January 3, 2011 Share Posted January 3, 2011 Everything is jointly owned, except one car title I see has only my name on it. That was not intentional, I just happened to be the one that made that purchase out of a joint account when he was out of town, and I must not have added his name to the paperwork for the title. We've always done all our business jointly for 31 years, whether I was earning a paycheck or not. It works for us. Quote Link to comment Share on other sites More sharing options...
Impish Posted January 3, 2011 Share Posted January 3, 2011 I have my own savings acct. That being said, its mainly used for budgeting purposes. Wolf knows how much I've shifted there, etc. I don't know what will happen when we go to buy our acreage. The down payment will all come from my settlement. And if we try to get a mortgage with his name on it, we may not get one at all, since his credit (currently) is terrible. Even still, we may end up needing a co-signer...I'm praying we won't, since I can't think of anyone we could ask! Quote Link to comment Share on other sites More sharing options...
mombygrace Posted January 3, 2011 Share Posted January 3, 2011 Completely communal. We have joint account and almost everything is in both our names. I have a little spending money in one of the joint accounts( he helps me check the status online when I ask :) ). We both work and this has been the case whether or not I was working. Quote Link to comment Share on other sites More sharing options...
Melissa in FL Posted January 3, 2011 Share Posted January 3, 2011 Everything is owned jointly except for our cars. We each have a car title in our own name and try to only drive "our" car. This is to protect our other assets if one of us were to cause a really bad accident. My understanding is that if I was driving a car that was in his name (or vise versa) then we could both be sued for an accident and everything we own would be up for grabs. By keeping our cars in our own name they can only sue the driver/owner of the car. Because of the laws in FL no one could touch our house or the other persons retirement by suing only one of us. But do I consider my car just MINE? No, it's ours. Melissa Quote Link to comment Share on other sites More sharing options...
Meriwether Posted January 3, 2011 Share Posted January 3, 2011 Communal. Everything is share and share alike. We each have a vehicle in our name and joint names on the house. We were advised to do it that way for legal purposes. But even though the van is in only my name, it is ours. His truck is a bit different. He gets a vehicle allowance through his work, so his company makes the payments. Since it is a work vehicle, we consider the "truck" to be his, but the "money (that we'd get if we sold it)" to be a family asset. Quote Link to comment Share on other sites More sharing options...
dirty ethel rackham Posted January 3, 2011 Share Posted January 3, 2011 We are mostly communal. Our retirement accounts are separate - I think they have to be. Money from my mom's estate is separate for now until I get a chance to talk with someone on the long term consequences of this. My mom intended that it be for the kids education, which is why the shares were divided they way they were. I trust dh with all my heart on almost all issues, but if something were to happen to me and he were to remarry, I don't think he would be wise enough to secure that money for them. I do have a separate checking account for my business. He is not on that account so that he doesn't have to claim (for ethics purposes at work) that he is an owner of my business. Not a ton of money in there anyway because I "pay myself" the profits. Quote Link to comment Share on other sites More sharing options...
mytwomonkeys Posted January 3, 2011 Share Posted January 3, 2011 totally and completely communal. Quote Link to comment Share on other sites More sharing options...
ScoutTN Posted January 3, 2011 Share Posted January 3, 2011 We are one family, so all resources are held in common. No such thing as his and hers money here! Quote Link to comment Share on other sites More sharing options...
Chris in VA Posted January 3, 2011 Share Posted January 3, 2011 Mine is mine. His is mine and his. :D Quote Link to comment Share on other sites More sharing options...
Jean in Newcastle Posted January 3, 2011 Share Posted January 3, 2011 Communal. Quote Link to comment Share on other sites More sharing options...
Catwoman Posted January 3, 2011 Share Posted January 3, 2011 Mine is mine.His is mine and his. :D :D:D:D:D Cat Quote Link to comment Share on other sites More sharing options...
Ginevra Posted January 3, 2011 Share Posted January 3, 2011 We do mostly have communal property, but dh does have a checking account that I don't spend out of. He had significant assets when we married and the checking account was meant to manage the airplanes/boats/cars/motorcycles he was buying and selling. He doesn't sell those things much anymore, but I've never been concerned with merging this account into our join accounts and I think we're both happier for it to stay as it is. That way, if he buys another motorcycle, or boat, or sells a boat or motorcycle, it doesn't really matter to me, because it's not money I was counting on for buying a new mattress or something. If that money was in our joint account, it would really grouse me for a new motorcycle to show up and honestly I would be just thinking, "How much did THAT cost?!" He keeps that other account and I don't have to worry about it. Quote Link to comment Share on other sites More sharing options...
Truscifi Posted January 3, 2011 Share Posted January 3, 2011 Communal. Quote Link to comment Share on other sites More sharing options...
thescrappyhomeschooler Posted January 3, 2011 Share Posted January 3, 2011 Well, mostly communal. I handle the household checking account, which is where dh's paycheck is deposited, but I give dh a check every once in a while for his own private checking account. He can use his spending money any which way he wants, and it won't mess up my bookkeeping and bill paying and my spending money. ETA: The house and car are in my name only because in dh's profession, he could be sued for malpractice and didn't want our family assets to be included in his personal assets. Quote Link to comment Share on other sites More sharing options...
Melissa in Australia Posted January 3, 2011 Share Posted January 3, 2011 All money community, property with house on it Dh- he already owned it before we were married, we haven't bothered to change it. Both other properties in my name. one DH bought as a present for me, the other we had put in my name when we bought it, because my husband was going through work cover at the time ( work injury) and was advised to not have to many assets Quote Link to comment Share on other sites More sharing options...
LisaKinVA Posted January 3, 2011 Share Posted January 3, 2011 Communal, but we each have savings account to put money aside for purchases (I have gifts, clothes, household, school, dh has car and taxes). When I need money, I transfer it to our checking account... and pay for things that way. Conversely, when I sell clothing or curriculum, I deposit the money into that savings account. But, it's all "ours." Quote Link to comment Share on other sites More sharing options...
texasmama Posted January 4, 2011 Share Posted January 4, 2011 All of our assets are pooled except a couple of retirement accounts. We have always only had a joint checking account. We do each have credit cards in our own names. Dh owns/runs a small business and we both have access to the business account even though I have not ever used it. Ironically, for some reason, both of our vehicles are in his name. No big deal to me. This seems to work well for us. Quote Link to comment Share on other sites More sharing options...
NoPlaceLikeHome Posted January 4, 2011 Share Posted January 4, 2011 We have community property. :iagree: I also handle all of the finances:) Quote Link to comment Share on other sites More sharing options...
Sasharowan Posted January 4, 2011 Share Posted January 4, 2011 Money's joint, but we do have his and her vehicles, mostly because mine runs and his doesn't. Quote Link to comment Share on other sites More sharing options...
Mommyfaithe Posted January 4, 2011 Share Posted January 4, 2011 Mine is mine.His is mine and his. :D this....:D Quote Link to comment Share on other sites More sharing options...
StephanieZ Posted January 4, 2011 Share Posted January 4, 2011 It's all communal. Has been since we moved in together after dating for just a few months. ;) Quote Link to comment Share on other sites More sharing options...
In the Rain Posted January 4, 2011 Share Posted January 4, 2011 Community money here. Quote Link to comment Share on other sites More sharing options...
Wheres Toto Posted January 4, 2011 Share Posted January 4, 2011 Completely communal since there's only one income coming in. I do have a credit card that is mine for any purchases I wish to make but the bill is paid out of the joint checking account so it's more for convenience. Our cars are in individual names because both of them were aquired before we married but I drive DH's (Suburban) and he drives mine (Honda Civic) since I usually have the kids and the Civic gets better mileage for his daily commute. DH does consider his boat his and only his. I'm completely fine with that. :D Quote Link to comment Share on other sites More sharing options...
Ravin Posted January 4, 2011 Share Posted January 4, 2011 Property is pretty much communal, except for a few things like our computers and desk space. We keep separate bank accounts, largely because DH and my attempt at a join account, early in our marriage, did not go well. Quote Link to comment Share on other sites More sharing options...
secular_mom Posted January 4, 2011 Share Posted January 4, 2011 Communal here. Quote Link to comment Share on other sites More sharing options...
Hannah Posted January 4, 2011 Share Posted January 4, 2011 (edited) Mine is mine.His is mine and his. :D :lol: Legally here it depends on what kind of marriage contract you have. It can be in community of property (where all assets and debts are shared) and all transactions have to be co-signed, Out of community of property (whats yours is yours, and mine is mine), or out of community of property with accrual. This means that what was yours before the marriage remains yours, you can run your own finances during the marriage, but should the marriage desolve all assets accrued during the marriage are shared equally (but not necessarily all debts, which gets tricky). Practically for us its all communal. Edited January 4, 2011 by Hannah Quote Link to comment Share on other sites More sharing options...
TN Mama Posted January 4, 2011 Share Posted January 4, 2011 Almost all communal. There are a few retirement accounts I had pre-marriage and some land/business that can only be in my name, however the profits are deposited into joint accounts. Quote Link to comment Share on other sites More sharing options...
Peela Posted January 4, 2011 Share Posted January 4, 2011 Mine is mine.His is mine and his. :D This is us too. :lol: Works for us. Quote Link to comment Share on other sites More sharing options...
Dinsfamily Posted January 4, 2011 Share Posted January 4, 2011 Communal. We do each have property in our own names but that's just because it was how things were set up (VA Loans and such). Dh handles all that stuff these days thankfully. We do each get a set amount of spending money each month to use however we want. However, the amount isn't significant enough to define as my own money. I do handle how we spend certain parts of the budget based on my responsibilities as does dh. Quote Link to comment Share on other sites More sharing options...
Veritaserum Posted January 4, 2011 Share Posted January 4, 2011 Communal. My parents were/are communal as well. Dh's parents were/are separate. Even when I brought in income, we put it all into the same checking account. It feels simpler that way. Quote Link to comment Share on other sites More sharing options...
dm379 Posted January 4, 2011 Share Posted January 4, 2011 Completely communal. Except he asks before he spends anything because I take care of all money except investments. Those bore me to death. I spend money as I please. He knows I come from a long line of very controlling men in my life and if he ever referred to it as "his money" I would flip out. My car is under his name and his car is under my name. I forgot how that came about but neither of us cares to switch it. The running joke is that we keep it that way so neither of us can leave the other without a threat of having the cops on the lookout for a stolen car. Quote Link to comment Share on other sites More sharing options...
momofkhm Posted January 4, 2011 Share Posted January 4, 2011 We have communal property but my folks have "yours", "mine" and "ours". Quote Link to comment Share on other sites More sharing options...
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