Interest Rates

[ClichéGuevara]

https://www.dailymail.co.uk/news/ar...eals-mortgage-lender-told-best-deal-10-5.html
View attachment 662827

That has been shown to be a very false claim on her part by a variety of separate mortgage experts and companies.

 

[neil_merseyside]

Where did I say it's "my/her" money? Show me that and you can call me stone age otherwise apologise. I know plenty of very forward thinking, articulate, intelligent couples who choose to operate separate bank accounts. This does not mean they don't share the financial responsibility but simply wish to run their accounts separately.

To my mind individuals who insist on all monies being in a joint account are distrustful and controlling of their partner by not allowing the partner the freedom to be involved in choosing how a contribution household finances is managed.

Erm this bit:- Mrs P 45%, me 55%. Today in retirement the ratio is 54/46%

 

[Mo1959]

Erm this bit:- Mrs P 45%, me 55%. Today in retirement the ratio is 54/46%

I think there’s a subtle difference between contributing and owning, but please don’t start an argument in what is an interesting thread.

 

[PaulSB]

Each partner having separate accounts is very stone age, I suppose it might help hiding a 'bike' addiction (swap word bike for alcohol/Hornby/control freakery/whatever) and that realisation explains all the neanderthal blokes I know/knew who still have! it that way (my dad definitely a control freak, but also of an age when it was 'normal'). I don't know any major wage earners/sole breadwinner (insert excuse here) that approaches 50% of the work of a family unit.

Erm this bit:- Mrs P 45%, me 55%. Today in retirement the ratio is 54/46%

I wasn't entirely sure what the bolded sentence meant but interpreted this to be you don't know any households or couples where work, earnings etc. are roughly equal. I've done nothing other than state we run a joint bank account and our financial contributions while working and now in retirement are very close to 50% each. I don't see how you reach the conclusion I'm stone age?

 

[neil_merseyside]

I wasn't entirely sure what the bolded sentence meant but interpreted this to be you don't know any households or couples where work, earnings etc. are roughly equal. I've done nothing other than state we run a joint bank account and our financial contributions while working and now in retirement are very close to 50% each. I don't see how you reach the conclusion I'm stone age?

Because you know the percentage, it shouldn't matter if it is/was 75/25 (either way).

 

[SpokeyDokey]

To my mind individuals who insist on all monies being in a joint account are distrustful and controlling of their partner by not allowing the partner the freedom to be involved in choosing how a contribution household finances is managed.

As an aside I think the original post re Stone Age was merely ilo 'old fashioned' and referred back to times when, generally, men were the sole or principle income earner and usually kept hold of the financial reins.

The original poster can correct me if I am wrong.

***

Re your partial post above.

Obviously I respect your opinion but it does sound a bit, to my mind, strong to use the words distrustful and controlling re joint accounts.

That is not the case for us.

We entered our marriage on the, unspoken at the time, understanding that we were both equals in all respects and that is the way it has remained.

We never discussed finance sharing per se and it was just assumed that that was the way it would be.

When we were first married the earnings ratio was 2:1 later rising to 5:1 in my favour and never once have I ever thought that our money/wealth is ever 'owned' any differently than on a 50:50 split basis.

There is nothing controlling or distrustful about our relationship I can assure you - not in any aspect of it and including finances.

We both spend what we want and when we want and both are not answerable to each other.

We do make joint decisions on major purchases and major financial decisions which seems a sensible approach to us.

Ultimately, I would say that shared 'everything' is an honest and transparent basis for a relationship without any 'power' imbalance - but, as ever, each to their own.

NB: I am not implying the obverse of the above paragraph either - although the obvious opportunity is greater.

As an amusing finale; our financial set-up does make it difficult to buy surprise birthday and Xmas presents for each other. 🙂

 

[Deleted User]

Each partner having separate accounts is very stone age, I suppose it might help hiding a 'bike' addiction (swap word bike for alcohol/Hornby/control freakery/whatever) and that realisation explains all the neanderthal blokes I know/knew who still have! it that way (my dad definitely a control freak, but also of an age when it was 'normal'). I don't know any major wage earners/sole breadwinner (insert excuse here) that approaches 50% of the work of a family unit.

Stone age, says who, you?

What's controlling about it in your opinion, my missus earns (before retirement) her own money and I earn mine and we both pay a share of household bills.

I never need to ask what she spends her money on nor she me, can't see a problem myself.

Not sure what the last bit meant?

 

[midlife]

In gross pay terms in our house the income split is about 90/10 and are paid into our own accounts.

Mortgage, food, energy, etc comes out of one account and Laura buys what she wants from either

 

[Deleted User]

Stone age because people clearly think (you included) that it's "my/her" money?

What's your issue?

As already said what works for some doesn't work for others, who are you to criticise how people run their finances?

My Wife would never dream of having a joint account because there's no need for one, I'm of the same opinion so don't see a problem.

 

[Chislenko]

but please don’t start an argument in what is an interesting thread.

Nice one Mo. Let's get back on track(er) so to speak.

 

[Deleted User]

Because you know the percentage, it shouldn't matter if it is/was 75/25 (either way).

I guess you've had a bad experience in the past, referring to your comment about your Father, but knowing roughly how much each of you earn isn't really a bad thing is it?

Over the years our earnings have been pretty much equal but when the kids were young the missus dropped to 2 days per week so I obviously paid more of the bills but when she went back full time she put more into the pot and that's how we do it.

As for who's money it is, mine is mine and hers is hers but obviously if the kids or the house needs anything between us we sort it.

It's worked for over 30yrs.

 

[neil_merseyside]

I guess you've had a bad experience in the past, referring to your comment about your Father, but knowing roughly how much each of you earn isn't really a bad thing is it?

Over the years our earnings have been pretty much equal but when the kids were young the missus dropped to 2 days per week so I obviously paid more of the bills but when she went back full time she put more into the pot and that's how we do it.

As for who's money it is, mine is mine and hers is hers but obviously if the kids or the house needs anything between us we sort it.

It's worked for over 30yrs.

Well it was a bit odd my Dad lending Mum money so they could go on holiday together

So anyone who says "mine and hers" or quote percentages seem to me to be monitoring family money rather too much.

 

[SpokeyDokey]

The OBR announcement on 23 Nov should give us a steer and will hopefully give us a fix on where interest rates are heading.

For investors; fingers crossed that the markets react favourably.

https://obr.uk/november-2022-forecast-date-announced/

Without getting political it was a bit naive not to involve the OBR prior to the financial announcement last week. 😒

Maybe a timing issue with the change of PM and HM's death.

 

[Jameshow]

As an aside I think the original post re Stone Age was merely ilo 'old fashioned' and referred back to times when, generally, men were the sole or principle income earner and usually kept hold of the financial reins.

The original poster can correct me if I am wrong.

***

Re your partial post above.

Obviously I respect your opinion but it does sound a bit, to my mind, strong to use the words distrustful and controlling re joint accounts.

That is not the case for us.

We entered our marriage on the, unspoken at the time, understanding that we were both equals in all respects and that is the way it has remained.

We never discussed finance sharing per se and it was just assumed that that was the way it would be.

When we were first married the earnings ratio was 2:1 later rising to 5:1 in my favour and never once have I ever thought that our money/wealth is ever 'owned' any differently than on a 50:50 split basis.

There is nothing controlling or distrustful about our relationship I can assure you - not in any aspect of it and including finances.

We both spend what we want and when we want and both are not answerable to each other.

We do make joint decisions on major purchases and major financial decisions which seems a sensible approach to us.

Ultimately, I would say that shared 'everything' is an honest and transparent basis for a relationship without any 'power' imbalance - but, as ever, each to their own.

NB: I am not implying the obverse of the above paragraph either - although the obvious opportunity is greater.

As an amusing finale; our financial set-up does make it difficult to buy surprise birthday and Xmas presents for each other. 🙂

Makes it awkward buying n+1 bikes too!🤣🤣🤣

 

[Jameshow]

Well it was a bit odd my Dad lending Mum money so they could go on holiday together

So anyone who says "mine and hers" or quote percentages seem to me to be monitoring family money rather too much.

I think it was referring to earning....

My earnings would hardly cover my Mrs tax bill!!