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Anonymous

24 Sep 2020

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SeedlyAMA

What are your views towards couple finances?

Is there a way to manage allocation in terms for the joint account contribution?

AMA The Woke Salaryman

Discussion (1)

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My personal opinion is that all couples should discuss to decide on the allocation of expenses after marriage, and this could be very different depending on each couples financial situation and life stages. There is no need for joint accounts specifically for special expenditures; maximising interest returns is more important.

For me, im the higher income earner comparing to my wife. Thus below serves only as a sample on how expenses are shared between us:

  • Wedding Related (50/50)

  • Housing Mortgage (60/40)

  • House Renovation (50/50)

  • Pregnancy Expenses (100/0) partially offset by government cash bonuses

  • CDA (50/50) meant for childcare and medical expenses

  • Utility Bills (100/0) includes electric, water, gas, broadband/LAN lines, sncc, property tax, netflix

  • Mobile Bills (50/50) pays for your own

  • Groceries and Food (70/30) split based on card/cash spending

  • Car Loan incl. COE (50/50)

  • Car Petrol (100/0)

  • Car Servicing, Insurance, Road Tax, Parking (100/0)

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