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I think what you have said is appropriate for your situation however I'd be keeping things seperate still maybe until you have lived together for over a year.
I say that because you need to protect yourself and kids. Keep bills in his name and reassess after a year
Don't. I absolutely wouldn't combine finances with any man unless we got married and had a prenup.
Mine is useless with money. If its in the account he has access to he will find something to spend it on. We both have mortgages and car loans and i only work part time. My wage goes into my mortgage offset account. I have an excel spreadsheet divying up all the money that comes in into "mini accounts" so when bills come we can pay them. I also take money from out of the joint account which is his wage to put aside for his car maintenance and to pay off couple other things. I also have savings in there which we are using for the wedding and bathroom renos as well as saving it for rainy day.His mortgage, car and insurance is direct debited every fortnight day he gets paid. We then do a huge shop on the day he gets paid for the fortnight and try and do anything else we need before he spends the bit thats left on beer.
We have seperate accounts he does fortnightly bills (rent, groceries, daycare, electricity) and I do monthly (insurance, phones, cars) and depending on the special occasion (eg kids birthday or out of town wedding ect) we will just work it out with who ever has the money to cover it usually I pay for the party he buys the present. It takes more communication but it works better for us as there are no surprises and no fights and we both have our left over money to use how we like