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Thanks for both the viewpoints on combining money. When I say combining checking and savings accounts, I'm focusing on the money that is used for daily expenses (checking) and the money that is used for emergency and specific funding (savings). I am not talking about combining capital. And in fact, our prenup specifically prevents us from combining capital for various reasons involving other family members whose interests we wish to protect and preserve.

The day-to-day income streams right now, though (counting only paychecks, not other income) include:

- Deposit from my pay to our checking account
- Deposit from my pay to our savings account to balance out the health insurance premiums that DH pays from his paycheck
- Deposit from my pay to my individual checking account
- Deposit from DH's pay to our checking account
- Deposit from DH's pay to his individual checking account

We then use Mvelopes to allocate to various folders spread among those accounts. And we have a shared credit card we use for most household expenses. I also use it for my personal expenses (it started out as my personal card and we expanded based on the good rewards it provides). Once every couple of months, I balance out the payments among the different accounts.

And occasionally, DH pulls out the wrong card and buys something of "his" (likes shoes) on our card. So then there's another correction to be done.

Last week, when we both bought shoes at the running store, used our joint card, and then looked at each other and realized that we needed to divide up the purchase and make an account transfer to balance things, well.... It all became far too complicated.

So the combining of accounts will streamline much of the money movement while still allowing us to see spending via the Mvelopes transactions. We've used Mvelopes since before we got married; it was a good way to be transparent about our spending, as well as to work through budgeting and financial decisions.

And since this does not touch DH's separate income from the farmland, nor his capital (in farm land, mutual funds, and index funds) nor my separate income from dividends nor my capital (in stocks), it does not feel terribly risky to me. In fact, it will free up some capital that we had both been holding in reserve as separate emergency funds. That will go into our individual investing activities, and we'll be left with a liquid emergency fund that is still well above 6 months of expenses.

ThyPeace, notes that her parents separated their finances when she was about 14 and it's one reason they're still married, so understands the benefits of having some individual control.
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