OK, so my fiance and I live apart right now, but we have lived together, in high school -- long story there, and will be moving back in together in May.
So, we're getting married next year, and we're trying to figure out how to work our finances, both for now and after we get married. We basically split everything we pay for already. Currently, our accounts are totally separate, and we're trying to figure out whether to merge our accounts now, or wait til we're married.
Eventually, we want joint one Savings account, which we're planning on going ahead and doing now, since we get better interest rates with higher balances, so it's best to have it all together. We want separate credit cards, plus a joint one. And, we were thinking just one checking account, since you have to have a minimum balance that ties up money, so it's pointless to have any more money tied up like that than necessary.
So, for now, should we keep our separate checking accounts AND have a joint one? Or, just have our separate ones, and "owe" eachother money, depending on who spends more each month? Or, have one joint one, but do all of our individual spending on the individual credit cards, and then settle it all at the end of each month? Does anyone have any advice or ideas that I haven't thought of?
So, we're getting married next year, and we're trying to figure out how to work our finances, both for now and after we get married. We basically split everything we pay for already. Currently, our accounts are totally separate, and we're trying to figure out whether to merge our accounts now, or wait til we're married.
Eventually, we want joint one Savings account, which we're planning on going ahead and doing now, since we get better interest rates with higher balances, so it's best to have it all together. We want separate credit cards, plus a joint one. And, we were thinking just one checking account, since you have to have a minimum balance that ties up money, so it's pointless to have any more money tied up like that than necessary.
So, for now, should we keep our separate checking accounts AND have a joint one? Or, just have our separate ones, and "owe" eachother money, depending on who spends more each month? Or, have one joint one, but do all of our individual spending on the individual credit cards, and then settle it all at the end of each month? Does anyone have any advice or ideas that I haven't thought of?