How Do We Split Expenses as a Married Couple?

It’s the first Monday of the month my friends! That means we’re taking another question from the Marriage, Kids and Money Community. 

Today’s question comes in from Kat …


Kat:

Hi Andy!

My name is Kat.  I recently got married, actually 12 days ago. It is both our first marriage and also our first time living and sharing the living expenses with a spouse.  We decided to not merge everything together, but to have our separate accounts that we had before we got married and also open up a joint checking. On top of getting married, we also got a condo together.

We went through the Financial Peace University through our church 3 years ago.  We both don’t have any credit card debt or any other loans besides the mortgage. My question is or rather, me seeking advice is, what’s a good percentage for us to contribute to our joint checking account? We don’t make the same amount, therefore, I felt like putting a percentage rather than an amount would be ideal. I’m just having trouble figuring out what other couples do who are in our same situation.

Thank you and I look forward to listening to your show.

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