Comments on: Lucy, you got some [financial] ’splainin’ to do!

By: Dormye

Dormye — Mon, 16 Nov 2009 21:29:53 +0000

Great words of wisdom here. I believe it should all be joint income…and do agree maybe a separate “fun” money fund for each spouse. Communication will be the key issue anytime $ is discussed.

By: 28th Carnival of Money Stories II – Winter in Arizona Edition | Out of Debt Again

Mon, 16 Nov 2009 11:15:56 +0000

[...] GLBL shares how the financial chores are shared in his household in Lucy, you got some [financial] ’splainin’ to do! posted at Gather Little by [...]

By: Billy

Billy — Thu, 12 Nov 2009 21:45:00 +0000

This is awesome advice. Even if one spouse is attempting to invest for the better financial future of the family – (which I was doing), you still both have to be in some form of agreement or it can bring great hardships to the relationship. Even with honorable intentions you can’t be too bull headed.

By: Gina

Gina — Thu, 12 Nov 2009 01:21:34 +0000

We put 85% of our income towards “the house”; the other 15% is that person’s fun money. Big exp are researched and discussed.

Communication is key but it doesn’t always have to be verbal.

By: Senan

Senan — Wed, 11 Nov 2009 23:15:40 +0000

I fear you’re being too idealistic. Most of the points above are of course good and if they could be put into practice what a merry bunch we’d be. My opinion is that we each have our own specialities. My other half’s is definitely not monetary! She earns (through a part time job). She uses that to pay for living week to week. But anything significant is researched and purchased by me, particularly when it comes to investing for the future (as opposed to current ‘living’ spending).

By: kenyantykoon

kenyantykoon — Wed, 11 Nov 2009 18:22:41 +0000

i like this mentality that you have vis-a-vis money and marriage. I have seem more than my fair share on divorces and strained marriages and one of the major causes has been finances.

By: Ashley

Ashley — Wed, 11 Nov 2009 17:35:16 +0000

As a single person it’s always interesting to hear how couples choose to divvy up their finances. I’ve seen it work a variety of different ways including having all the money pooled together, all the money separate, and having separate funds with a joint account that each party puts an equal amount into.

I think a lot of making money work as a couple also depends on personality traits. Some are more free with it, and some are territorial and quick to become bitter if they feel they are paying for a larger share of things. It’s a situation that needs to be discussed before a marriage even begins.

By: Ian Smith

Ian Smith — Wed, 11 Nov 2009 17:05:11 +0000

My wife and I get an “allowance” each week that is intended for personal spending, but everything else is mutual. Communication definitely is key.

By: Mike

Mike — Wed, 11 Nov 2009 14:06:05 +0000

I agree with you in regards to family and money. We should put everything in the same basket and discuss how to use our money together.

I know it’s hard to have joint bank account and fully trust your spouse. However, you become financially stronger when you financially team-up!

It can also become very difficult to divide expenses if there is a big income different between each spouse. I used to make twice my wife’s income so she wouldn’t be able to “follow” my lifestyle if we were splitting bills.

The key is communication…