Doesnt matter who earns but who should handle the finances in a married couple?

@humbleme (1004)
India
November 21, 2007 10:35pm CST
Hello friends, Doesnt matter who earns less or more or nothing, but who do you think should handle the finance,expenses of the the famaly of a married couple, only the husband, or the wife or together?If your answer is together, then if either husband or wife cant really control the wallet properly and starts spending which are absolutely not needed, how will you handle the situation?
1 person likes this
7 responses
@rsa101 (38166)
• Philippines
22 Nov 07
I think it totally depends on who can better manage with money matters. It doesn't have to be anyone in the family but those that is competent enough to manage the money properly. It should also be mutually agreed upon by the couple so that they would understand each others responsibility.
@humbleme (1004)
• India
23 Nov 07
Hello rsa101,Thanks for your response.Yes but who will decide whos better in managing the money matters cause a man and a woman has equal status if someone cant control to manage but still dont agree or admits, I think there starts the problem.Thanks again.
1 person likes this
@rsa101 (38166)
• Philippines
26 Nov 07
As I said it it should be mutually agreed upon meaning the couple will have to talk about it. It just means that one has to give in and on has to take responsibility.
@noriko (1254)
22 Nov 07
we are married for 7 years already and when we are just starting our married life we are both earning. we also both handle finances. now that we have a son and i am a stay at home mom my hubby is the only one who earns but we still both handle the finances. when there is somethining new to buy we save first before buying. the usual things are the food, groceries and bills. but if we need to buy something which is not at the usual list we save up first before buying.
@humbleme (1004)
• India
23 Nov 07
Hello noriko,Thanks for your reply and a very good answer,any succesful relationship should have enough mutual understanding as well as proper planning and thats the keypoint.Thanks
@noriko (1254)
24 Nov 07
thanks for the mark, yes it is better to plan it first. it is to scary to go on in day without a single penny in the pocket
@foxyfire33 (10005)
• United States
23 Nov 07
Things really should be handled together (as far as financial decisions) but I think only one person should be in charge of the "paperwork". When you have two people withdrawing money and paying bills there's too much room for error. The person to do this should be the one who is the best at money, math, and organizing. It really doesn't matter if it's the husband or the wife.
@humbleme (1004)
• India
23 Nov 07
Hello foxyfire33,Thanks for your response,I agree with you the husband and wife should have proper understanding between them.Thanks again.
@Gemmygirl1 (2867)
• Australia
23 Nov 07
I am currently a stay at home Mum so my partner is the only one who makes any money but we always work out our finances together, we usually discuss what needs to be paid & how soon, then we go through & put the bills etc in order of priority. You don't want a marriage or relationship where there isn't compromise or anything, if it's all 1 sided then it becomes a little unfair. If 1 person starts spending just because they want to, then you're always going to have a problem, you need compromise in a relationship & if 1 person takes it on themselves to go behind the other's back, then there's a lack of trust & it could cause a family to fall apart - especially if the person spending money on things they don't need causes financial problems.
@humbleme (1004)
• India
23 Nov 07
Hello Gemmygirl1,Thanks for your response and very well said, I totally agree with you, proper understanding trust and transparency and last of all enough commonsense from both end is needed.Thanks again for sharing.
• New Zealand
23 Nov 07
My husband is working full time and I am working part time as I am taking care of our child. But with regards to finances, we are both handling it. We have a joint account and monitoring each other expenses as we have a target budget every week. Also, we let each other know if we will be going to buy anything for ourselves. I think it is not important who should be handling the finances either the husband or wife, the most important is if the money are being handled properly and still targeting your budget coz overspending will be everyone's problem...=)
@humbleme (1004)
• India
23 Nov 07
Hello marissa0124,Thanks for your response,I must say you live a planned life with lot of commonsense and mutual understanding,wishing you all the best.Thanks again.
@Sillychick (3275)
• United States
23 Nov 07
I think whomever is better at being organized and keeping a good budget and records. But if it is either husband or wife, the other spouse should be aware of the financial situation of the family and have some input. In my family, I handle the budget because I am good at making sure the bills are paid on time, keeping track of how much money is available for spending and the like. But I talk to my husband about it and he is aware of what I do.
@humbleme (1004)
• India
23 Nov 07
Hello Sillychick,Thanks for your response and you have added a very vital point it is very important to keep a track of spending from both end and transperancy should be maintained by both.Thanks again.
@ayou82 (3450)
• Philippines
22 Nov 07
in married couples they should work with one another when it comes to finances in and out.. Or one may suggest where to invest the money coz the kids will benefit all this so needs to be wiser when it comes to money.
@humbleme (1004)
• India
23 Nov 07
Hello ayou,Thanks for your response and I agree with you the husband and wife should have understanding with each other Thanks again for sharing.