Which person handles the finances in your home?

@bamakelly (5194)
United States
May 7, 2009 8:58am CST
This is a question I would like to ask out of curiosity. I understand that each household probably has its own ways of handling finances or income. I am a housewife and I do not handle the finances in my home. Do you have a certain person in your home that solely takes care of the bills and financing and is it working well for you? Opinions on this matter are welcome.
5 people like this
26 responses
• United States
8 May 09
Kelly- I handle all of the finances in our home as I stay at home and know what bills are due, coming in, and what needs to be purchased. As my husband jokes, I give him his allowance lol. Seriously though, I do the paperwork side of it, and just let him know what's available for play money. I keep the pantries stocked, etc. If there is an issue, I may involve him, but for the most part I keep all of that to myself and just make sure everything is taken care of. This allows his mind to stay clear for his spiritual studies, as well as work. He doesn't need the extra headaches of the household runnings. If he takes out the trash for me, I'm a happy camper. Namaste-Anora
2 people like this
@jayrene (2712)
• Philippines
7 May 09
i'm the one who handles all the finances in our home. all my husband does is give me his income and then i do what has to be done, which bills to pay first... i tell him though how much each bill is, what are late in payments, how much the penalties, what is due on a certain day, so he'll know what do if we are short in the budget (which we always are these days ). other than that, he lets me take care of everything.
2 people like this
@savypat (20246)
• United States
7 May 09
I handle the finances in our home and I would gladly trade off to my Hubby, but his way of managing money is to put all the bills in one pile and pay as many as he can before he runs out of money, never looking at the due dates. It just doesn't work, I think he planned it that way.
• India
8 May 09
hii friend nice to see you here..In my home my father will handles the finances and also he only will mailtain the budget to..He is the head of my family...He only take cares of all the bills abd he only pays them every month...And my father orders us to do some work..so as a head of my family my father will take cars of all..happy mylotting dear friend..keep smiling..have a nice day..
1 person likes this
@bamakelly (5194)
• United States
8 May 09
Hi there friend. Good to hear from you also. So it is the father that handles the finances. That sounds good as long as things are organized and paid on time. It can sure be a stressful thing to have bills to pay and worrying all the time. I know how that can feel. It seems that you have respect for your father as you should. Everyone in a family certainly needs to help each other especially with chores and handling some of the finances. If one person handles the money well then that is a good thing also. As long as things are working alright. Take care buddy.
1 person likes this
• India
9 May 09
Thaks for your immediate response dear friend..yeah it seems very difficult to handles all the works in that homw and to doing them on the time..And also the other thing is i am the one in the house who helps for my father..My father some times orders me that to do certain work that pay the bill....So i will help my father...So at that times i will be satisfied that i am helping my father and also i am doing some of the works in the home..happy mylotting dear friend..have a nice day.
@Ithink (10495)
• United States
7 May 09
Im a stay at home mom too, however I handle all the bills and anything to do with money basically. My husband however knows what thet are paid. He also knows where I put the bills which is in a calendar by month due and write when it is due on the calendar. He knows how to do them he says Im just better with money. He knows that everything is paid so that he doesnt have to worry about any of it.
1 person likes this
@bamakelly (5194)
• United States
8 May 09
That is a good thing that you are reliable with money and that you take care of the house hold finances. I think that there does need to be someone handling things however it is good if both partners can somehow be involved together so as to know what is going on with the money. It sounds like you have things pretty organized using a calendar and everything. That is the correct way to do things. Sometimes the bills can get backed up but if you have a system then you can work out things a little easier. It is also a good thing that your husband has the trust in you and knows that your are taking care of things in the right manner.
@Ithink (10495)
• United States
8 May 09
Thank you, it works for us and that is what counts
@se7enthbird (8327)
• Philippines
16 May 09
we both handle the finances. once we have the money we always pay the bills first. then we buy food and groceries. then what ever the amount that was left we soend it on extras and on going out at the mall for our child to enjoy. if we dont have that much then we just enjoy each other at home. that is what we do. we share the handling of the finances. it is not that hard to do it.
1 person likes this
@bamakelly (5194)
• United States
18 May 09
I appreciate your response and it seems that what you are doing is working pretty well for your family. It is not always easy to control finances the way we would like. With the two of you handling things it makes things much more easy. It seems that you have things prioritized correctly. You make sure the proper things are set first and then you enjoy your time with family and the like. I think it has a lot to do with priority. It can save a lot of hassle and headaches later on. Thank you.
@GardenGerty (105408)
• United States
11 May 09
We share and discuss. I think we get the best of both of our abilities that way. Right now our earnings are pretty equal, and that is also good. It has not always been that way, and we have had some financial trouble because we were not both involved.
@missybear (11395)
• United States
8 May 09
I do all the money stuff at our house, even when my honey was working "He isn't right now", he gave me all his money and I took care of everything. I'm very good with managing money when it comes to paying bills. If it was up to him we be homeless..
1 person likes this
@bamakelly (5194)
• United States
10 May 09
Yes. Sometimes there is just that one person that takes on the responsibility for handling of the finances and that is usually the best decision. Especially as it seems that you have a situation where your husband wasn't able to handle these matters anymore. It seemed that you took the bull by the horns yourself and cleared everything up. It is a great thing that you are able to manage the money like you do. You have organization and order in your home especially when it comes to finances it seems. I wish you continued luck and success in your home. Take care and thank you.
• United States
8 May 09
unfortunately, I have been handling the management of our household income. I would like to be doing it as a couple, but since my husband is working extra due to me being out of work, I have the time to do it. It has been hard because the last few years we have had difficulties due to job loss and illnesses and we are still trying to get back on our feet. My husband works so hard and sometimes feels like he works for nothing because of all the back bills that we have. It is frustrating and I hope that things will be better for us in the future.
@bamakelly (5194)
• United States
18 May 09
It is not always easy is it when it comes to handling the finances. Sometimes in life you have to work extra hard just to compensate for lost income. Job loss and sicknesses really can take a toll on the family. We are in an economy that makes it so hard for everybody especially the ones that are down low on the income scale. It does feel like one could feel that they are working hard and for nothing. It sometimes seem that bills just can't get caught up. The frustration can build and then arguments can sometimes ensue. But thank you for the input.
@agv0419 (3029)
• Philippines
8 May 09
Our mother handles the finances in our home. My mother is the best in handling our expenses and bills at home. My father let her to decide what she wants to purchase in our house. She budgets the money very well. She can be able to save money for the emergency. My mother handles money wisely so my Father trust her. I told her to open an account in a bank so the money that she saves can have an interest.
1 person likes this
@bamakelly (5194)
• United States
8 May 09
That is a good thing the fact that your mother is so trustworthy and reliable to be able to handle the finances in your home. She seems like quite a responsible individual. It can be hard to handle money and finances especially if it is just one person. However there are those that can have a talent to be able to handle diversified duties inside of the home. You can count on her and that is wonderful. It sounds like a good idea for her to get a bank account. You are right. The money she saves could earn interest. If the budgeting of the money is done properly then it can work out quite well for the entire home. Thank you for writing. Take care.
@taski24 (214)
• Philippines
8 May 09
Yes, in our household, my wife is in-charge of handling our finances. I give to her my entire salary and she gives me back my allowance for two weeks and that's it. She is an accounting graduate and she knows more about money than I do. She is my better half and I trust her to make the best decisions. So far so good.
1 person likes this
@bamakelly (5194)
• United States
8 May 09
I can see that in some households the wife is in charge and sometimes it is just the husband. I also believe somewhat in both partners helping out with the finances or at least having knowledge of what is going on with the spending and what the money is being allotted to. That is a good thing to have in your house hold. A person that is an accountant and can handle the money and accounting for it as well. If it works out well for you then all my best to you. It is also a good thing if you have that much trust in her to have her take care of things like that in the home. Thank you for the input and take care.
@rakesh284 (1473)
• India
8 May 09
At my home most of the time my father and mother both are handling finances. Because my father doesn't have a lot of time to take care of different household expenses so my mother handles all those things with my and sisters help. But she keeps records of where has she spent money. As far as our personal finances are concerned we take care of that by ourself. I am also very choosy in spending money never waste it because I know its value.
1 person likes this
@bamakelly (5194)
• United States
8 May 09
I see that your mother and father handle the finances. That is good as long as there is a system and each person knows what the other person is doing. If you mother is able to handle things like different household expenses then that is a great thing. You also have your own personal finances which are basically up to you to take care of and it is very important to be responsible when handling such things. You don't like to waste money. It sounds like you are very careful then and that is a good sign that you will continue to handle your money in the correct way. We all have a future that depends on how organized we are with finances. That is for sure. We never know what tomorrow will bring.
• India
8 May 09
My Mother. She is an accountant by profession and she is good at hnadling accounts and money. I help her now and then and I make sure that she spends less on her CC because they add a lot of interest to each month's due and this has caused a lot of over dues. bourne
1 person likes this
@bamakelly (5194)
• United States
8 May 09
So your mother takes care of things. Well that sounds good. She is probably quite reliable and is a big help to you when figuring out the finances and such. It is also a good thing that you help her in the way that you do. It takes two people sometimes when it comes to money matters. There should usually be consultation also when it comes to organizing the money that is being spent and other important things being paid. Take care and thanks for the input.
@madasp (563)
• United States
8 May 09
I pretty much handle all of our finances. Mostly because I am home and have the time to take care of paperwork and make payments. Also because my husband hates dealing with any of it. He has his checks direct deposited and then just takes out a set amount of cash every week because he only uses cash. If he needs to make a larger purchase he will use a card, but he doesn't like to so it makes it pretty easy for me to keep track of everything.
1 person likes this
@bamakelly (5194)
• United States
8 May 09
Some people in a relationship take over the handling of finances. I think that can be a good thing as long as things are organized in the correct manner. It seems that you have things under control there. You also have the time since you are home to be able to do the figuring and estimating of bills and payments needed to be made. It is so important to have things done correctly when it comes to the house hold finances because things can get confused so easily if not attended to correctly. It sounds like you and your husband are working together to make things happen and that could be a real source of harmony in your lives. Thank you for your input and important words.
@cj5guy (93)
• United States
7 May 09
I think all adults in the house should have the ability to take care of the bills. All parties involved should know whats going on with the bills. If something were to happen to the one paying the bills, there would be ab understanding of them. Something like the phone bill thats paid in full every month is easy, just let the one(s) not paying the bills that it is paid in full every month, but things like credit card bills need a little more details such as: I paid the credit card bill, but since the account is so high, I have been paying an extra $XX per month to get the balance down. Or, we are 2 months ahead on the car payment so if we have a tight month, we can let it slide for a month and still be a month ahead. Communication is very important as it can save a huge headache from trying to figure out what has been going on with a certain bill.
1 person likes this
@bamakelly (5194)
• United States
7 May 09
I tend to agree with you on this cj5guy. Welcome to myLot and thanks for answering and giving me your input. I am hoping that I receive some more feedback on this question. It is true I believe that all parties should know what is going on. That includes the husband and the wife. I am a stay at home mother and my husband works. I feel that I know pretty much what is going on with the finances and try to keep up with what is getting paid. So I believe that being involved in the finances is quite important. Especially so that there are no surprises. Each person should communicate when it comes to this matter. You are so right about the headaches that can be avoided just by being open with others in the house hold.
1 person likes this
@aweins (4203)
• India
7 May 09
hi bamakelly, my dear friend, after marriage now i am not managing any finances of the house, i donno from where the things are being bought, from where the things are ordered , where to bargain for the best, becasue mu house shopping i dont do, no bill payments i know where to deposit and where to send the cheque, i know nothing about anything in here now. before marriage when i was unmarried , i was the wholesole of everything, but now the things have changed and very frustating for me atleast. for a person ;ike me who was in a habbit of holding and knowing each and everything whats going on, what is being bought, from where to buy and everything of my house, bill payments, cheques and all, i was the one. but now, nothing, it is so frustating i tell you, i feel like a nobody in the house. things are bought, i donno, house is painted, i donno th ecolor being decided, new refrigerator is bought, i donno the brand or of how many litres is coming, change of AC and i donno whose is the decision and when is the change will happen. i am like a nobody in the house, NOBODY, i donno about the payments also, its my father in law who pay the billls and my mother in law who in the finance manager.
1 person likes this
@krajibg (11936)
• Guwahati, India
7 May 09
Hello bamakelly, this is supposed to be all male business to handle finance things for whatsoever reason but now there is a wind of change bowing around and most husbands including me are happy handling down a certain amount in cash to the wife and sleep a peaceful sleep. Believe my wife has the control panel with her so far money is concerned. I have my own pocket money and we never bother.
1 person likes this
• India
8 May 09
Hi friend, I not the person who handles the finances.But i am involved in buying new things.I am happy about it because we take the finance part than it would be a big headache for me to handle.May be in future i may took it if time permits otherwise i can enjoy my whole life happily and joyfully without any headaches hehehee....... Have a nice day
@zed_k4 (17627)
• Singapore
8 May 09
Hey there bamakelly, for personal finance of my home right now; there are 2 to 3 people. It would be my mom, dad and me. We handle our own finances and we believe that there shouldn't be any restrictions when it comes to finances for the home. Meaning that we like to brainstorm when making decisions and deciding which is for which and how much money roughly to gauge when purchasing a new say, equipment for the home or something. But if choosing fabrics and color themes, normally I would leave it to my mom because she is the Queen at home when it comes to domestic things, ha! Each one of us have our own personal finance to take care and we help one another when we are in dire straits. I love reading others' answers and it has helped me to learn about other people's methods too. Great discussion here.
@samdeb (82)
• Muzaffarpur, India
8 May 09
in my home my mom use to control all the billings and finance and she dors it really well we havent face any problem . my dad only go to the office and separating his monthly expenditure he hand over the whole money to my mother and after that she takes care of all the things . i am proud of my mother she is really very able householder.