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Shared account with SO (self.personalfinance)

submitted 1 week ago by root to c/[email protected]

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For the last decade or so, my SO and I have been more or less dividing our expenses, and Venmo/ PayPal-ing the other as needed (rent, etc).

I know a lot of couples use a shared account that they both contribute to via direct deposit. How many of you do this? Any drawbacks or other options I haven’t mentioned?

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[–] [email protected] 2 points 3 days ago

Yup, that's how we do it. General setup is $X/month goes to each of our private checking accounts for personal use. We discuss any non-regular purchases over $50, unless we make it from our personal accounts.

That's it. Transparency is a really valuable thing in a committed relationship.