Quote:
Originally Posted by talkingman
As a family, really helps to manage spending and save up. But must be open.
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Well said. As a family, the key objective is to manage resources carefully. One spouse will emerge stronger in finances.
The young will think this is about ego and control. Perhaps they do not have kids yet. And some will harbour ambitions for a secret womanizing fund.
How one structures his finances will determine the quaity of his marriage. Hide, evade, control and one will end up with unneccessary fights. Share, discuss, be open and one will bypass a common pitfall.
For me, my wife handles finances better. So she manages all the joint accounts where the bulk of her and my money are. I just keep a small personal account for my daily use. I guess you can say "I am given an allowance".
She writes the checks for the kids school bus, kids school fees, draws money for groceries, sign credit cards for family dinners etc. I think my life is complex enough, why bother to spend brain cells monitoring money movements when my wife can do it?
Perhaps this is the fallacy: People mistake managing for control. I always have control over my money. My wife and me discuss every major purchases. I just do not (want to) monitor the ins and outs of every line item in my bank. And I do not want to get involved in deciding which vacuum cleaner to buy!