- High Tea for Hen’s Night
- Questions to ask Dress maker
- Celebration date different from Wedding date
- Cupcake/Cake top decoration
- Oriental twist on hanging decoration
- Hanging flowers
- What happens at Register
- Tip to Avoid being Ripped Off by Florists
- Ring Cushion
All about the money
June 2nd, 2008
The last time I met my fiance’s friend for lunch, she had mentioned to my fiance that she would have a joint account and then separate accounts for her fiance and herself. She said she still wanted to maintain her independence. At law school, my Equity & Trusts professor once recounted how she told her husband ‘Honey, what is yours is mine but whats mine is mine.’
That made me wonder how I should structure our household’s finance. Presently, I live in his flat and he pays the mortgage and most of the bills. I am a student at the moment with no income so I cant really contribute much financially. I do end up doing most of the housework as well and buying him an occasional shirt or paying for the occasional dim sum.
Anyways, my fiance and I had a long chat and we decided that we should also have a joint account and own separate accounts. The joint account could have both a savings account so we could save money for a new house in 2 years time when I qualify as a lawyer, and the current account which we could pay for our household bills, presents for common friends and holidays. Having a separate bank account allows for each of us to do whatever we want with our money without the other half getting upset over the expenditure.
We were trying to decide how much we should each contribute to the joint accounts. I said we should do a percentage of our salaries as that is the only way to make it fair. My starting salary in september is only 1/3 of my fiance’s total income but in about three to four years time, I can earn as much as him. My fiance said that we should actually pay in proportion to how much we eat and use the bathroom.
Anyways, we’ve decided to keep a tally of how much we usually spend for household bills for the next 3 months and then average it out to estimate how much money we need for a year. This figure could then be used to plan out how much money to allocate to our joint accounts. This exercise might also be a good way for us to keep a check on how much money we waste and what ways we can save.
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