His and Her’s (and Our’s)

As you may recall my fiancé and I were having issues trying to reconcile plans for our financial future together. And, I’m happy to report, we have come to an initial plan!

Right now, without me working, we’re not able to meet these goals. However, after the wedding it’s either a job at a community college (all my applications are out right now!!!) or substitute teaching in the local school district. Consequently, once August comes, I’ll be gainfully employed once again.

So… once we’re both working here is the plan:

As a couple:
$100k for a down payment on a home

As individuals:
EACH $14k in individual money-market accounts for emergencies (together this is a 6 month cushion)

He:
Continue his own savings, investments, and fun money

I:
$3K for this year’s ROTH
$15K for a new car
The rest is fun money

I’ve got some of these goals posted in my sidebar to keep them- literally in my face- reminding me of them.

His salary will continue to pay our living expenses (it’s all automatically deducted from his accounts already- why change it?). Then we take my checks and divide them into three for our savings and investments: third money for him, a third for our joint accounts, and a third for my accounts.

It’s kind of complicated, but it was the best arrangement that we could think of. At the end of August, I’ll tell you how it has (or hasn’t) worked out.