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re: Married baws - how do y'all handle finances
Posted on 3/29/17 at 1:57 pm to shotcaller1
Posted on 3/29/17 at 1:57 pm to shotcaller1
combined
0
Posted on 3/29/17 at 1:59 pm to BoogaBear
quote:
I make 70% of the household income. Wife and kids spend 98% of the household income.
"finances"
Why don't you tell her to spend less and you spend more?
Posted on 3/29/17 at 2:06 pm to LouisianaLady
quote:
quote:
I haven't touched finances in 10 years.
As long as my debit card works, I don't care.
People still use debit cards? I thought we had moved on from that
Posted on 3/29/17 at 2:07 pm to shotcaller1
quote:Right after we got married my wife and I came to an agreement about our money that has worked for us: her money is her money and my money is her money.
Married baws - how do y'all handle finances
Posted on 3/29/17 at 2:07 pm to yellowfin
Man, I have two friends and my brother who use debit cards. All three of which are gainfully employed. I don't get it.
This post was edited on 3/29/17 at 2:07 pm
Posted on 3/29/17 at 2:09 pm to LouisianaLady
I had a 40 year old coworker recently tell me he didn't have a credit card. Not even one
Posted on 3/29/17 at 2:09 pm to shotcaller1
Our system works like this:
Both paychecks go into bank account #1(joint). From #1, they get distributed to banks accounts:
#2 (joint, for family expenses-food, student loans, doctors visits, etc),
#3 (my personal account, with fixed allowance every two weeks)
#4 (her personal account, with same allowance every two weeks)
Anything that gets spent on bank account #2 is agreed on by both of us.
This system also has the virtue of limiting exposure if any one of the bank cards ever get compromised as none of them have access to the big pot of money (bank account #1). It also helps us organize spending.
Lastly it gives her freedom to spend money on things she likes without having to worry if it's accounted for.
Both paychecks go into bank account #1(joint). From #1, they get distributed to banks accounts:
#2 (joint, for family expenses-food, student loans, doctors visits, etc),
#3 (my personal account, with fixed allowance every two weeks)
#4 (her personal account, with same allowance every two weeks)
Anything that gets spent on bank account #2 is agreed on by both of us.
This system also has the virtue of limiting exposure if any one of the bank cards ever get compromised as none of them have access to the big pot of money (bank account #1). It also helps us organize spending.
Lastly it gives her freedom to spend money on things she likes without having to worry if it's accounted for.
Posted on 3/29/17 at 2:15 pm to yellowfin
I know that credit can be obtained in numerous ways, but I have to wonder how people are able to make large purchases. As young as I am, credit cards are the only reason I have such good credit. I rent, and my car was given to me fully paid for, so there's no other way. Without my credit cards, I'd be screwed if I ever needed financing or really anything having to do with a credit check.
Even things like our vacation fund is really only there as a means to pay the credit cards back because I'm not about to use the actual debit account to book a vacation. Even taking away the protection aspect, the points alone are worth using a CC.
Even things like our vacation fund is really only there as a means to pay the credit cards back because I'm not about to use the actual debit account to book a vacation. Even taking away the protection aspect, the points alone are worth using a CC.
Posted on 3/29/17 at 2:19 pm to NYNolaguy1
If that works then great but it seems like you are really over complicating something that should be fairly simple
Posted on 3/29/17 at 2:20 pm to GEAUXT
We combine direct deposit. She pays all the bills (I don't frick with bill paying), we each have our own 401k's. She does whatever she wants with her bonuses, as do I (pretty much). It's worked well so far. I don't like fricking with bill paying, she is rather neurotic about our finances, so it's all good with me. We discuss bigish purchases and then buy that shite.
Posted on 3/29/17 at 2:22 pm to ThatMakesSense
quote:
quote:
300K yacht.
That's not much for a yacht.
Here's a link to give perspective on what 300K would get you.
Used Yachts for sale
Everybody's definition of a "yacht" is different, but $300k will buy you a 2011 410 Sundancer, which is a pretty boat.
Posted on 3/29/17 at 2:23 pm to Pecker
quote:
Why don't you tell her to spend less and you spend more?
She's actually pretty frugal. The kids are expensive as hell, daycare being $680 every 2 weeks sucks. Plus all the other expenses involved.
I'm frugal as shite. I've had $7 in my wallet to treat myself to the always delicious Taco Bell for about 2 months. Can't bring myself to spend it
Posted on 3/29/17 at 2:25 pm to SetTheMood
quote:
Since my wife doesn't work
quote:
She pays all the bills though
No you pay the bills. She gives them your money. CONGRATS!
Posted on 3/29/17 at 2:34 pm to shotcaller1
it is best for the person with the best finance acumen handles them
In our case me- we discuss all major purchases and investments but we don't sweat the small stuff
I am blessed to have a level headed wife.
We both grew up very poor and appreciate the life we have
In our case me- we discuss all major purchases and investments but we don't sweat the small stuff
I am blessed to have a level headed wife.
We both grew up very poor and appreciate the life we have
Posted on 3/29/17 at 2:34 pm to BoogaBear
What's hers is hers. What's mine is hers. She gives much of it to grand kids. Spends little on herself so we have a shite pile of $.
I wear the pants but she tells me what color and when to put them on.
She threatened to leave once and take half but realized by staying got it all.
I wear the pants but she tells me what color and when to put them on.
She threatened to leave once and take half but realized by staying got it all.
Posted on 3/29/17 at 2:48 pm to shotcaller1
married 35 years, combined. wife does bill paying etc. I do taxes and investments
Posted on 3/29/17 at 3:03 pm to LouisianaLady
Is your husband bad with money?
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