Who handles the family budget?
By Storm
@jcj_111776 (3216)
Philippines
September 1, 2007 7:08am CST
In my family, I handle the finances. Because I'm the one who accepts the billing statements and I'm much more into details when it comes to budgeting. I actually make notes on our monthly finances so I can monitor how much we are spending. My husband sometimes asks me why I still keep on listing the expenses. It looks to him as if I'm just wasting my time doing it. And I keep reminding him that at least I know where the money is going. It's really hard to remember where the money was spent and my list helps me to be aware on maybe we're spending money on things that we really shouldn't.
Just like these past months, as my list had showed, we spent an extra amount of money on eating out. Which was more expensive than eating at home.
So, in your family, who handles the family budget?
2 people like this
14 responses
@williamjisir (22819)
• China
1 Sep 07
My wife and I handle the family budget together. When my need to buy something that is costly, we put our heads together and make a finally decision. As to small things, I leave it to my wife and sometimes she leaves it to me. I am happy that we like to talk to each other before a big deal.
1 person likes this
@williamjisir (22819)
• China
2 Sep 07
Hey, friend. Just show him what we discussed here. lol
1 person likes this
@jcj_111776 (3216)
• Philippines
1 Sep 07
Hey!You should talk to my husband and tell him what you do. Sometimes, he will ask for my advice on something and as his "conscience", I tell him no and not to buy whatever he wants to buy. He likes to buy any tech gadgets. His last purchase was this iPod. He knew that I would object so he didn't even mentioned it to me. He just went home one day, with his brand new iPod.
1 person likes this
@jcj_111776 (3216)
• Philippines
3 Sep 07
sometimes, it's useless to talk him out of it. Whenever he sets his mind on something he wants to buy, but in my opinion, that it's just a waste of money, he goes deaf on me. He just nods his head and say, "ah, ok", then leaves the house and come back later with his new purchase.
1 person likes this
@vinzen (1020)
• India
1 Sep 07
This would vary from family to family i think as each family has their own choices and people taking care of the budget, and at times if its a joint family, we have the elders too who take care of the budget in the house, so it would all depend on what kind of fmaily your is and who takes care of the budget.
In my family my husband and myself , we both take care as we have spilt the things between ourselevs,like hes incharge of the day to day budgeting and spending of things, as he takes a limited amount each month from which hed make a list and spend the things needed daily. While i keep track of the monthly bills that have to be cleared, the kids fees that have to be paid, the electricity and phone bills, the petrol and the maids expenses, the rent of the house etc,and any unexpected expenses etc, and we normally note downa nd maintain the account of things by the month end and invariably each month we reduce a little of the expenses by taking care that we dont over spend as we are able to save up those places which we were over spending in. I think a budgeting is always better in order to have a proper well maintained and balanced amount and as little saving is done too.
1 person likes this
@jcj_111776 (3216)
• Philippines
1 Sep 07
Why are most women so good at details?^_^. I also make it a point to make notes on the amount that we spend. It makes good reference especially when the time comes that finger pointing occurs because we're already short in cash. The blaming starts and I've got my notes to serve as my evidence.
@vinzen (1020)
• India
1 Sep 07
I agree that in most house holds it is the woman who controls the budget, same was what my mom did, but as we are both working and i believe that we are both partners, so we do tend to share the budgeting too. Of course my husband does not over spend but somehow he cannot keep a track on what and how he spends his money, so he takes a little money every 3-4 days and spends those and take more again, and whatever he takes i note down, so that he gets better in his habit and learns to spend properly, after all its never too late to start learning.
1 person likes this
@vinzen (1020)
• India
1 Sep 07
Women are good at details , as they know that the men are not! And someone in the house has to take charge of accounts. Yes, you are right it happens that as soon as the money is over the husbands will surely ask, what happened where did it all go, i gave you this and this amount, where did it go. And thankfully that time we have our notes and accounts ready in hand. Men generally dont like to haggle nor keep details of accounts, somehow i think that is most nature of the men , in general.
1 person likes this
@sweetgirl_k1 (3972)
• United States
1 Sep 07
I am the one who handles it in our house. My husband is not good at handling it. One time I got mad about something and told him that I was going to let him start handling it. He laughed and said that nothing would get paid if I did that. He gives me his check each time he gets paid and I deposit it in the bank and I pay all our bills. If we have extra money then I'll give him some to spend and I'll take some and he always spends his before I spend mine. I gave both of us $40 the other day as just spending money and he has almost blown all of his. I still have the $40 I kept for me plus $25 from the last time I got some extra money. So it's a good thing I do the family budget. LOL
1 person likes this
@sweetgirl_k1 (3972)
• United States
2 Sep 07
Oh yeah, that sounds like mine. LOL
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@jcj_111776 (3216)
• Philippines
1 Sep 07
You're husband sounds like mine.LOL. At least your husband is honest about himself, that he doesn't know how to handle your money properly. With my husband,he still argues with me, defending himself.
My husband also does that with the speedy spending. There was a time we were at the mall. We had to separate because I was going to look for something and he easily gets bored following me around. So, I gave him the extra cash that almost amounted to a $100. This cash should last for a month because that money was his alloted budget for his car's maintenance and other things that he needs.
After 3 hours, we met again.I noticed that he bought some books so I asked him right away where was his money. And he said it's almost gone. Then he finally admitted that he almost spent the $100 in just 3 hours.
So, it's a good thing too that I handle our family's budget.
@Perspectives (7131)
• Canada
1 Sep 07
After passing the responsibility back and forth we have finally arrived at a place that works well for both of us. Whenever money comes in...from his work, mine or 'ours' we mutually decide how to allocate it. From there I take the money and put it in the appropriate bank account. We have more than one because our mortgage is handled by one...business accounts etc. Most of our payments come out as an automatic debit..and I use on-line banking daily to track things and make sure everything is running smoothly.
After all our years of marriage my hubby and I finally accepted that I am better at managing the money and tracking expenses...and handling the budget than he is. It is akin to his computer skills...he is way better at than than I am. So we both do what we know we're good at...and everything is running much more smoothly now.
We use Quick Books to track our expenses and keep an eye on the outgo and it really helps us in setting realistic goals and achieving them.
@Perspectives (7131)
• Canada
3 Sep 07
Thanks for your your vote on the best response. There were some great answers and suggestions here...so I appreciate it a lot!
1 person likes this
@jcj_111776 (3216)
• Philippines
4 Sep 07
You're welcome!It's great that both of you had come to a final and permanent agreement on who will handle the finances.
I'm a little cautious about the online banking. Well, I'm a little paranoid when it comes to that. I usually want to pay in cash so I won't have to expect any problems in the future. Because there are times that we get problems with our bank and I don't need to have that kind of problems.
@tuffy999 (794)
• Philippines
1 Sep 07
since both of us (husband and myself) have our own separate incomes, we divide the household expenses. each of us will set aside funds for our day to day expenses put it in a separate account and draw from it when bills has to be paid. for other expenses like cellphones, insurance and shopping we use our own money. it has worked for us all these years. but of course once in awhile we borrow from one another.
1 person likes this
@jcj_111776 (3216)
• Philippines
7 Sep 07
That's sweet of you, trusting your wife to do the budgeting.
@rogue13xmen13 (14402)
• United States
1 Sep 07
My mother does, but sometimes I do some managing of my own.
@cutepenguin (6431)
• Canada
1 Sep 07
We both do. Because this way, both of us know we can't eat out, or how much we have available to spend on gifts. It's easier for us.
1 person likes this
@jcj_111776 (3216)
• Philippines
1 Sep 07
To be honest, I'm really cautious when it comes to my husband and his spending habits. Whenever our family eats out, I usually ask him to choose a restaurant that's not so expensive. Because we're already taking a risk on the budget by eating out.
I make notes on our monthly expenses and when there are time that he asks me why I'm a little strict on the budget, I just show him my notes so he'll understand why.
What we have agreed upon now is that I handle the budget for the bills, food, and other payments. He gets to handle the budget for his car's maintenance and his other needs.
@jcj_111776 (3216)
• Philippines
4 Sep 07
It's great that your husband knows how to manage your finances well. Because most of what I have read from some who responded, it's usually the wives who handles it, including me. For the main reason that the husband is the spender and for them to handle the family budget, will only mean disaster.
@lucky_witch (2707)
• Philippines
1 Sep 07
Before I was the one handling the budget but now I give it to my husband because I want him to experience and learn how to budget the funds of the family, but of course I would monitor what is he doing because I dont want to have shortage.
I also note down the expenses because its easy to track how money was spent..
@jcj_111776 (3216)
• Philippines
1 Sep 07
My husband and I tried that once but it went so wrong. I was confident that he can handle our finances properly but as it turned out, we ended up short of cash and there were still bills to be paid.
An example of this is the budget for groceries. I've been making the budget for almost 6 years so when I go to the grocery store, I know which product to pick up because I know already the price. And I COMPARE PRICES unlike him!
So, that time of month when he asked if he can handle the budget, I gave him a list of what things to get from the groceries. I even included the brand, how many grams, so he won't pick up the wrong item.
When he got home, I was so mad!Because he totally ruined the alloted budget for the groceries. He didn't look at the list that I made. He just went on and picked whatever he liked, regardless of the price.
I also make monthly notes on the expenses made so when I ask myself, "where did the money go?" I just look at my notes.
@Euphrosyne (139)
• Philippines
3 Sep 07
I basically handle the finances. I don't like it but I have no choice. I am an accountant and I do these kind of stuff at work all the time and it's really kinda boring and excruciating doing the same thing at home. I want to give my self a break with all these finance stuff you know. But there's just really no one to do it. *sigh*
@jcj_111776 (3216)
• Philippines
4 Sep 07
Hi there!Why don't you try training someone in your household, the best that you think who can learn it fast?That way, you won't have that kind of burden. It's really exhausting to bring your work to your home and do it at the same time. It might burn you out eventually.
@lisa_wxy2 (19)
• China
1 Sep 07
in my family,my parents handle the budget together.
now,i am independent,and between my bf and i,almost is he,sometime i pay the bills:)
his salary is much more than mine.
1 person likes this
@jcj_111776 (3216)
• Philippines
1 Sep 07
I guess it works better if both of you handles the budget. So, in that way, you are both aware of the expenses you make. Unless, one of you spends much more than you should. Like my husband.LOL
@Michelle662 (52)
• China
2 Sep 07
In my family, my father is the one to handle family budget.
He has the finacial say.
I think to handle finacial budget is not easy.
@jcj_111776 (3216)
• Philippines
4 Sep 07
You are so right about that. It's never easy to handle money especially when there are so many bills to pay and just enough money to pay for them. Sometimes you've got to be a pro to be able to make sure that everything goes smoothly.