Sparklie Fund

[just_looking!]

My DH and I got married in October 2005 and we''ve been chatting about joint money and saving for the future.

We''re talking about each having a set amount per year for ''toys / technology'' in his case and ''sparklies'' in mine. Does anyone else do this? How much do you set aside?

 

[crafftygrrl]

For years, I have had my "kitty."

Over time, my situation has evolved to where I keep what I earn and spend as it as I wish.

But in the beginning, it was a whole different story. I would talk to your husband, and possibly a financial planner, to establish savings and spending goals. It''s important that you both agree on them, so that way, there will be no resentment on what you both spend.

 

[Logan Sapphire]

Date: 1/28/2006 9:41:57 AM
Author:just_looking!
My DH and I got married in October 2005 and we''ve been chatting about joint money and saving for the future.


We''re talking about each having a set amount per year for ''toys / technology'' in his case and ''sparklies'' in mine. Does anyone else do this? How much do you set aside?

My husband and I do this, but on a very small basis. I''ve always had a fund of some sort- originally, I think it was an electronics fund, but now it''s only jewelry (on our bank statements, it''s actually titled "Jewelry Fund"). I get about $200 direct deposited into my account each month, which isn''t a lot, but adds up if you let it. And when I buy my jewelry, I always wait until I have enough money accumulated. If I want small purchases of jewelry, I don''t use the Jewelry Fund, but for big ticket items, like studs or right hand rings, the JF provides

 

[Mara]

There were other threads on this but I have no idea what they were titled...I will have to see if I can find them.

We haven't split up our income quite yet like that...but we may think about it this year. However I do have my own mental 'fund' for things...hee hee. More for small things. If it's a large item, aka upgrade, then that is more a discussion between us so we can figure out comfort levels etc.

One of the ways we are thinking of splitting things up is to pool all household expenses into this one account and pay bills from there, keeping retirement and other investments or similar as a household expense as well and then whatever is left after being responsible, is what we get to play with in our own accounts.

 

[Jelly]

We call it the "diamond fund." We''re not the best at saving money, but I was very determined to get my upgrade. We set aside birthday money, cash earned from giving private music lessons, x-mas money, refund checks into the Diamond fund.

It seemed to work. My e-ring is at WF getting it''s new bigger diamond!

 

[monarch64]

At this point, we kind of have things set up separately still. We''ve been married for over two years and keep meaning to see a financial planner but have been procrastinating. We don''t have kids yet, and are not planning to have them for a year or two, so we''ve kind of just been having fun! The way we do things right now is I pay for groceries, utility bills, our health/vision/dental insurance and half the car payment (he drives a company car), and he pays the mortgage and any entertainment expenses and half the car payment, etc. We would also like to start a "discretionary" fund in the form of a joint account we both contribute to. Our situation is a little different than some: we both have a set salary, but in his case he receives a large chunk of his income in bonus checks every quarter. We basically live off both our salaries, and then spend his bonus checks on fun things. Our problem with this is that we are always counting our eggs before they''re hatched, and already have spent the bonus before he even gets the check! Some structure is definitely in order. I think in the end we will each keep a separate checking account and keep the same set-up as far as bills because it seems to be working well, and then set up a joint account to which we both contribute for vacations, jewelry, toys, etc. It''s hard to know exactly what to set aside until you know both of your goals for the long and short run. I think once you''ve established what you are saving for, then you will be able to determine how much to set aside on a monthly basis.

 

[Dancing Fire]

The secret stash subject again?

Of course you should have separate accounts. You don''t ask him for money and he doesn''t ask you for money. Arguing over money is one of the main reasons why people get a divorce. My wife and I have been married for 20 years and I have no idea what her annual salary is.

 

[Kaleigh]

just_looking I apologize as we got off topic. To answer your question we have separate funds. I have one for sparklies and other household expenses. My husband has his. We always talk before we make any major purchases We also have a joint account. It's whatever works for you. We will be married 20 years in September so it's worked well for us.

 

[just_looking!]

just finished reading that other thread!!

Thanks for all your responses.........