Comments on: Should You Have Separate Accounts?

By: Josh

Josh — Sat, 03 Oct 2009 21:50:35 +0000

My wife and I use joint and separate accounts. We created our budgeted expenses here on Mint and updated it a couple times till we got it right. Now that we’re on track, we deposit enough to cover our expenses in the joint account and some in each of our personal accounts (the same exact amount). This works well because then we can each manage our own ’spending cash’ without constantly having to check with each other.

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By: Eric

Eric — Sat, 15 Aug 2009 02:22:09 +0000

Or you could do a budget together at the beginning of the month and know exactly what you have to spend where. Mint’s budget is not great but on the first of the month I update the list I have on the budget from my “master” budget spreadsheet. Then you know how much you spent when and where at a quick glance.
We Use the previous months income as the next months budget… i.e. Julys income is used for Augusts expense. That way you know exactly how much you can spend in the month. I’ve never spent less time on money matters than I do now…. 1/2 hour on the budget, 1/2 hour updating Mint’s Budget on the first of the month and Mabye another 1/2 hour total paying bills and updating Mint and my Master Budget sheet.

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By: Ila

Ila — Mon, 10 Aug 2009 02:16:07 +0000

Here’s a tip for those who choose to do Joint Accounts. We were having trouble keeping track, because in essence you would have to balance both “checkbooks” every day after all your debit/checks for the day. We started using Xpenser.com, and it’s been fabulous. We simply text, IM or call Dialtodo and submit our expenses and deposits on the spot (while the receipt is still in hand after we get in the car). It has been fantastic! The only trick is being TRULY diligent in always putting the expense in, but other than that, it’s pretty effortless. Good luck!