RoyalBearQuery
New Member
Hey boys,
Looking for advice about combining bank accounts.
Context:
My missus and I have a 10-week-old child together. We also have two stepchildren. We’ve been together three years. Both very, very happy.
Two properties. One rented. One PPOR. About $2m in total value. A $1m property sits in each name. Separate mortgages.
Time has come to combine finances. Simplify shopping, bills, etc.
Current setup:
Separate pay accounts. Money is funneled into our PPOR offset. It covers interest etc.
$50k in savings.
We have never officially combined finances. What is the general advice?
One joint account for both?
Three accounts: one paid into, two separate for “allowances”?
What other options exist?
Do’s and don’ts?
Thanks guys.
Looking for advice about combining bank accounts.
Context:
My missus and I have a 10-week-old child together. We also have two stepchildren. We’ve been together three years. Both very, very happy.
Two properties. One rented. One PPOR. About $2m in total value. A $1m property sits in each name. Separate mortgages.
Time has come to combine finances. Simplify shopping, bills, etc.
Current setup:
Separate pay accounts. Money is funneled into our PPOR offset. It covers interest etc.
$50k in savings.
We have never officially combined finances. What is the general advice?
One joint account for both?
Three accounts: one paid into, two separate for “allowances”?
What other options exist?
Do’s and don’ts?
Thanks guys.