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re: Who makes the financial decisions in your relationship?
Posted on 3/27/18 at 8:35 am to Chuckd
Posted on 3/27/18 at 8:35 am to Chuckd
quote:
This is how my wife and I do it. And it's weird to me that this system baffles some people. It's not even about trust, our bills were separate before we got married and we saw no real reason to change that once we got married other than old people telling us thats what we're "supposed to do".
Yep. I don’t get the “why even get married” crowd. Like, that’s why you’re married?
This post was edited on 3/27/18 at 8:36 am
0
Posted on 3/27/18 at 8:35 am to Pecker
Wife and I have separate accounts and neither of us have access to each other’s. We do have one split account but neither of us ever use it and she only puts money in it.
She also pays most of the bills including the mortgage and I pay for vehicles, House cleaning and yard work.
She also pays most of the bills including the mortgage and I pay for vehicles, House cleaning and yard work.
Posted on 3/27/18 at 8:37 am to Pecker
I'm going to rub my balls on your forehead for such nonsense in this post.
Posted on 3/27/18 at 8:40 am to yellowfin
quote:
My wife manages 100% of our money. All together in a joint account.
One less thing I have to worry about is how I look at it
I would love to have my wife manage 100% of our money because I damn sure get tired of remembering to pay the bills, dump money into to retirement accounts and travel accounts, reallocating Roths, etc. Doing all that shite is damn near another full time job within itself. I would love to give that up to her. She doesn't want to do it either.
Posted on 3/27/18 at 8:41 am to Pecker
quote:
We both know what we can afford individually so it doesn't matter.
You know what you can afford individually, but do you know what you can afford as a couple? Maybe your wife isn't exactly on the same page as you when it comes to saving for a new house. She gets in a some shitty loan for a car that she can afford, but would never buy if she realized a mortgage payment might increase by $500 a month in a few years. These things have to be discussed.
$100 not an issue for us. $500 not a huge issue where I have to ask, but she's going to think I'm trying to hide something if I don't even mention it. If I'm spending thousands and don't talk about it, then that's pretty selfish and not really taking into account what the whole family might need/want. Especially when you have kids. I'm not going to withhold anything from my kid for my selfish reasons. If my wife has an idea to put him in piano lessons or karate class, I need to know before I start budgeting to get myself some other toy. I'd like to take that into account.
Posted on 3/27/18 at 8:41 am to Pecker
quote:
If either of us spends over $20k or so, we'll mention it to the other person as a courtesy.
Posted on 3/27/18 at 8:41 am to Pecker
quote:
He said he thinks it's crazy that my wife and I manage our money separately.
While my wife and I effectively do the same thing on paper, we practically have joint finances. I make the financial decisions with her input because my background is finance
I/joint account takes care of all the boring stuff like mortgage, bills and "joint" food
Wife's personal/savings account from small business funds unusual purchases like furniture, house renovations, travel and vehicle purchases.
This post was edited on 3/27/18 at 8:42 am
Posted on 3/27/18 at 8:42 am to TH03
quote:This
That's not crazy in and of itself, but not knowing the entirety of the money your family holds at any given time is crazy to me.
I get that you the wife/husband trust each other so it shouldn't be an issue, and if they're both honest and doing their part, the separate accounts won't be an issue.
But the moment one runs astray, it'll become a big issue much later, probably too late, with separate accounts as opposed to everything being done jointly. So in that regard, it's just the better play IMO.
Posted on 3/27/18 at 8:42 am to Pecker
quote:
my wife
Posted on 3/27/18 at 8:42 am to TH03
Mrs fin can I hit happy hour this afternoon with the guys?
Posted on 3/27/18 at 8:44 am to yellowfin
quote:
My wife manages 100% of our money. All together in a joint account.
One less thing I have to worry about is how I look at it
This is how we do it pretty much. She's got a spreadsheet where she'll budget out everything then has every due date on the calendar and reminds me when to pay my car note or the phone bill, etc. I don't trust auto pay purely on principle.
There's nothing wrong with having it split, it just doesn't seem as easy and I'd like to know exactly what we have at all times.
Posted on 3/27/18 at 8:46 am to TH03
quote:
There's nothing wrong with having it split, it just doesn't seem as easy and I'd like to know exactly what we have at all times.
this
I manage 100% of our money. We share everything. Hell, we only have 1 CC that we share. I like to know exactly where everything is going and how much money we have as a couple at all times. It is just easier to have everything in 1 account. People make this too complicated.
I've seen too many cases like the OP where one of the partners runs up massive CC debt without the other knowing.
Posted on 3/27/18 at 8:47 am to TH03
quote:
I don't trust auto pay purely on principle.
Well that's pretty archaic and stupid of you.
Posted on 3/27/18 at 8:48 am to Mingo Was His NameO
I mean there's literally no downside, and I'm a control freak so it doesn't really matter.
Posted on 3/27/18 at 8:49 am to Pecker
Not sure if anyone has mentioned but kind of curious that you posted about spending 50k+ on Everest yesterday and then this post today.
Also, that I think (?) you've only been married less than a couple of years.
My parents always had separate accounts and worked well for them. I think it's different for everyone and more important to communicate rather than a specific system.
Also, that I think (?) you've only been married less than a couple of years.
My parents always had separate accounts and worked well for them. I think it's different for everyone and more important to communicate rather than a specific system.
Posted on 3/27/18 at 8:49 am to Pecker
My wife and I started out with $0. We had to pool our money just to get by. We've only ever had 1 checking account.
I've always thought it was strange that married folks had agreements on who pays what
I've always thought it was strange that married folks had agreements on who pays what
quote:. But whatever works I guess.
She buys groceries and household things, and I pay whenever we go out
Posted on 3/27/18 at 8:49 am to Salmon
quote:
Hell, we only have 1 CC that we share.
Those are rookie numbers.
You need to pump those numbers up.
Posted on 3/27/18 at 8:50 am to Pecker
My wife and I agreed that she would handle financial decisions on small purchases and I would handle the major ones. In all of these years of marriage, we still haven't had a major purchase.
Posted on 3/27/18 at 9:03 am to Salmon
quote:
It helps to be considerate.
Posted on 3/27/18 at 9:06 am to Pecker
My wife handles all finances
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