The one who knew how to handle the finances better, and the one who could give better importance to the hard earned money of the couple should be the one that will be given the responsibility of handling family’s finances. Budgeting is one vital process in one’s family that should be observed and done properly. I believe that there’s really a person that good in doing this than others so better determine who among the husband and wife is better doing this to secure family’s better financial flow.
6. I don’t think the answer to this question depends on a culture or a particular country or tradition. The answer really depends on who is better at budgeting, balancing the books and saving. That’s the smart way of doing it. Anyway, both the wife and husband should have a say… no one person should keep the money.
I don’t think there should be a formula of whether it should be the husband or the wife. I believe it depends on a partner’s situation. No two relationships are alike. I believe, too, that couples should have agreements on the things regarding domestic affairs or issues.
7. It’s something that should be decided mutually by both husband and wife. It depends on both of them to think who can handle the job well. When my parents were alive, money matters were in charge of my mother. The bread earner of the family was my father, but it was my mother who used to manage the money and decide where it should be spent. And she used to do the job well. I have seen many families where house wives decide the budget of the family. I think that women have a better understanding of ground realities. Men are generally careless by nature. So I think that the income of the family should be kept in charge of house wives.
8. My husband was always the one in charge of the money and bills. If it had been up to me we could have had a lot more things in life but he would spend all the money on video games and drugs. I think whose in charge of the money just depends on the couple. My dad took care of the bills. My ex took care of our bills. But 2 of my friends take care of the bills not their husbands.
I would rather give the money to my husband. I try my best in budgeting but I am still working on it. I am a big spender, probably because I grew up getting all what I want and spending unlimited. So I am working on it right now and my husband is a better at budgeting than me.
9. Both their responsibility to talk about who’s going to hold on to the income. There are families where husbands are in control of the finances and they’re doing great, there are those whom mothers are the ones and are still doing great at it.
I guess the couple must communicate well as to who’s obligation is what. But, for me, I think it’s ideally the woman’s job to keep the income of the family. Not because it’s her right to do so, but rather she’s the one managing the family in the first place. She’s the one doing the cooking, going to the market, buying clothes for the family, and looking after the well-being of the family and the home. Therefore, she knows what to buy, where to buy them at the lesser cost, etc.
However, if the husband is doing the things I mentioned, then it’s obviously his job to keep the income to budget it right.
As for me, I think better at keeping the money and budgeting things. But we communicate pretty well as to what to do, what to buy. He supplies the bigger portion of the budget and doesn’t want fuss about all the details while on the other hand love going through the details. An example of which are the trips that we go to. I usually do the itinerary, computing the total costs and such while I ask him what he wants to do or any special preferences and gives me the budget.
10. I think the couple should decide how the finances should be taken care of based upon the needs of the family, the responsibility level of each person, and frankly, who has the ability to be more responsible with the finances. In my household, I am the one who takes care of the finances. My husband is a great guy, but when it comes to finances, he just isn’t comfortable with handling them at all. We are both more comfortable with me figuring out the budget and showing him what I have figured out for us. We do discuss long-term goals with our finances, what we want to get accomplished and what sort of time frame we are looking at. It is up to me to do the figuring to see how possible things are and set the budget for us, as well as see to it that we stick to it.