Newlyweds. Paid off all debts, except the house, with separate accounts. Now looking to create a joint account. Any tips on budgeting a joint account? Allotments? categories? Warnings?
My wife and I have been married less than 2 years. I was debt free when we got engaged and she had car and school loans. She wanted to feel as though she paid those things off by herself since she brought them into the relationship and I didn’t want to take away any drive to pay off her debt.
We agreed I would keep the bills paid and she would buy groceries and the rest of her money poured into the loans. We actually paid off the car loan before we got married and paid off the school loan this month, 1 yr and 10 months later. Now debt free except the house.
We agree that I manage money far better than she does, and she trusts me to handle the finances at this time. We plan to combine/create a joint account.
Any tips on budgeting a joint account differently than a personal budget? Allotments? categories? Warnings? Thanks