Rearranging our money situation.
Years ago I set things up where Chael and I have separate personal accounts and a joint account. Our pay gets deposited into our personal accounts, we both put amounts I set into the joint fund, Chael gives me $500 of his pay, and our personal bills and spending comes out of our separate accounts. Shared bills like rent and mutual groceries I pay for with our joint money.
This has been working great, but with the upcoming move and the changes in our budget it will involve I’m changing our arrangement.
I’m picking us a new bank as we’re not thrilled with our current one. All of our pay will be direct deposited into it. All bills will be paid out of it by me and a set amount put into savings each month. Then I will set an amount of allowance each of us will get to place in our own accounts and spend how we wish.
As the budget will allow for it, the $500 Chael is to give me a month will be included in my allowance as it is a separate personal arrangement from house expenses and payments. Also, he will keep all money from his web stores as his own.
Time to get going on making it happen.