My fiancé and I are trying to get better at managing our money together, but we aren’t ready to fully merge our accounts. We want a system that lets us track both shared expenses and individual ones without getting too complicated.
Any tools or strategies that have worked for you?
I learned early on that my husband couldn’t budget, so we opted for separate accounts but shared a household account for bills. It helps keep things fair.
Consider creating a joint account for shared bills where both of you contribute a set amount each month. It keeps things honest and straightforward.
You could use the app SpendCircle if you both have iPhones. It allows you to create custom categories for shared and individual expenses. It’s just $2 a year for both of you.
Look into Plenty, which lets you mark accounts as private or shared and also offers investment options. It’s a bit pricier than SpendCircle but may be worth it.
Once married, merging finances can simplify things, but it’s a personal decision based on trust and comfort.
Setting up a weekly ‘money check-in’ can keep you both aligned on finances without overwhelming each other. I also love using Habit Money for daily reflections.
I keep my husband’s fixed income separate but include it in my budgeting. It helps to have a clear picture of our overall finances.