Who holds the purse strings?
January 14, 2009 1:28pm CST
Studies show that one of the major causes of divorce is money and how couples manage their spending and budget. Are finances a contention in your house? I'm curious how you and your spouse manage money. Who holds the purse strings in your household? Do you have a joint account or spend separately? Is money a source of contention in your relationship?
15 Jan 09
No, money is not a source of discontent with us. None of us actually holds the purse strings, so to say. We add up the expenses that needs to be met and share if among ourselves. If I am paying for the monthly grocery and our child’s education then hubby is paying for the daily food necessities and all the bills. That way we ensure that both of us manage to save something in our individual account.
14 Jan 09
My fiance and I have lived together for 3 years and we are getting married in May. We actually just opened a joint bank account (literally 2 days ago!) for our household expenses just to make it easier as writing cheques back and forth to different accounts is a royal pain. We have never fought about money, but then again we have never had reason to as we both work and money has never been tight. For the most part I handle all the finances, bill paying, taxes etc. and it works great for us. He trusts me to make the right decisions and doesn't question me. We always consult each other before making major purchases whether it's with our own money or not. All in all we are very fortunate that we are completely on the same financial page.