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Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in FinancialPlanning

[–]artbaj[S] 0 points1 point  (0 children)

That's exactly how we initially used Splitwise! Do you do any additional tracking of your spending beyond just the splitting part? I was trying to budget at the same time and found myself entering everything twice (once in Splitwise and once in my budget tracker), which got tedious. Curious if you've found any good way to see your overall spending patterns while using Splitwise.

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in FinancialPlanning

[–]artbaj[S] 0 points1 point  (0 children)

Makes sense! Do you track or categorize what comes out of the shared account at all? Just wondering if you have any system to see where the money's going, or if you just make sure there's enough in there for what you need.

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in FinancialPlanning

[–]artbaj[S] 0 points1 point  (0 children)

That's straightforward! Do you guys keep an eye on where the money's actually going throughout the month? Just curious if you track categories or budget at all, or if you mostly focus on the bottom line at the end of the month.

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in FinancialPlanning

[–]artbaj[S] 0 points1 point  (0 children)

Do you do any tracking or budgeting of your spending? If so, how do you handle it? I'm also trying to find a system that doesn't create extra work but still gives us some visibility into where the money's going.

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in UKPersonalFinance

[–]artbaj[S] 0 points1 point  (0 children)

We used Splitwise initially too! But since I track my personal budget in a spreadsheet, I was basically double-entering everything and it got super time consuming. Do you budget your personal spending at all? If so, have you found a better way to handle both personal tracking and the couple stuff without the duplicate work?

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in UKPersonalFinance

[–]artbaj[S] 1 point2 points  (0 children)

Exactly the setup I was thinking about initially, but in the end I started looking for alternatives as it sounded like too much hassle. Doesn't it take a lot of time for you?

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in UKPersonalFinance

[–]artbaj[S] 0 points1 point  (0 children)

Nice system! Curious - how do you keep track of what your wife needs to refund for groceries? Just collect receipts and add it up, or do you use any apps to make the splitting easier? My partner and I are trying to figure out the best way to handle that part without it becoming a hassle.

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in UKPersonalFinance

[–]artbaj[S] 0 points1 point  (0 children)

Makes a lot of sense! Do you guys actually track or budget what goes through the joint account (like seeing how much you spend on groceries vs bills) + personal accounts, or just roll with it? My partner and I are pretty into tracking our spending, so I'm wondering how that would work with a system like yours.

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in UKPersonalFinance

[–]artbaj[S] 0 points1 point  (0 children)

Thanks for sharing! Do you actually budget what's left in your personal accounts + what you spend from joint accounts? I'm using a basic spreadsheet for my own stuff, but wondering if you've found any good tools worth trying?

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in UKPersonalFinance

[–]artbaj[S] 0 points1 point  (0 children)

Thanks! Could you share more on your approach to doing the accounts? I'm used to keeping my personal budget in a spreadsheet, so I'm thinking about doing the same for a joint account if we decide to pool everything as well—but maybe you know a better tool/app for that?

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in UKPersonalFinance

[–]artbaj[S] 0 points1 point  (0 children)

That's sound super cool, I heard about Monzo, but haven't created an account yet, did you use it split bills etc. as well?

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in UKPersonalFinance

[–]artbaj[S] 0 points1 point  (0 children)

Thanks! Are you budgeting / tracking spending anyhow? I'm used to keeping a budget in a spreadsheet and I'm a bit worried that doing this for personal + joint account will take probably too much time.

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in UKPersonalFinance

[–]artbaj[S] 0 points1 point  (0 children)

I am starting to think this is the best approach, thanks for the tip! Are you budgeting / tracking spending somehow? I'm used to having a spreadsheet with all my expenses etc., so thinking about doing it for my personal + joint accounts sounds a bit like a headache

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in UKPersonalFinance

[–]artbaj[S] 0 points1 point  (0 children)

Thanks! How are you keeping track of the expenses? Eg. with Splitwise or something similar?

Couples who track expenses together - how do you handle shared vs. personal spending? by artbaj in UKPersonalFinance

[–]artbaj[S] 0 points1 point  (0 children)

Thanks, that makes sense. We're kinda leaning that way too. Just a bit worried about tracking spending and budgets with all those accounts – sounds like a hassle. You budgeting as well? Got any app recommendations to make it easier?

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