tax return.... trying to come to a fair "split" with my hubby...
By nickiy
@nickiy (40)
United States
January 8, 2007 1:18pm CST
we get about 5000 on our tax return... we have one daughter(so we get 1 child tax credit)who is 18 months old, and another due in may...last year we didnt need to think too hard because we spent some on her and then put a down payment on a new car.... this year....we want to put some in the savings, and have some to spend on ourselves....well my hubby wants to put 4000 away in savings and split the other 1000 up between us... 300 for him, 300 for me 200 for our daughter and 200 on the one due in may... now i want to put 3000 in the savings and split 1000 up between me, our daughter, and my hubby (a little over 300 each...)and use the other 1000 to get everything we need for the one due in may.... (cradle, swing, clothes,blankets, bouncy seat, carseat, bottles, stock up on some diapers....stuff that we need for the newborn when it gets here... we havent bought ANYTHING and im due in 4 months....)
Any ideas on how to come to a compromise, or other ideas on how we should do it....
2 people like this
9 responses
@kd5cqq (22)
• United States
9 Jan 07
I would tend to agree about putting as much as you can in savings. You never know life's emergencies. Have you thought of buying some of the things second hand? When I had my son, I found a cradle, swing, clothes, blankets, and a carseat that looked like new. I took a mild clorox bleach and soapy water combination and cleaned them. They looked and worked like new. Maybe an idea. I know we all want brand new for our little ones and that is great. I was working on a shoe-string budget.
@dragonstar13 (1465)
• United States
9 Jan 07
How about putting it all in savings and letting it draw interest till you double your money, then split it right down the middle, half for you and half for him then you can each do what you want with it.
@sassymommy (41)
• United States
9 Jan 07
You could come up with a comprimise, put 3500 in savings, then split te rest up giving the new baby the most so like 300 for each of you, 200 for your daughter, leaving 700 for the baby.
Although I think that I wouldn't really worry abot givin gmyself and my hubby money or my daughter 200, unless it goes in a savings accoun tfor her, and worry more about getting what I need for my new baby and saving te rest so incase of an emergency like the car breaks down or a big thng happens there wil be money and we wont have to worry how we're going to pay for it and the bills. Why do the two of you need 300? What are you going to spend it on?
@nickiy (40)
• United States
12 Jan 07
if our car breaks down its more than likely because of something the warenty covers, so well be fine there, and the 300 that goes towards us would be because throughout the year, we dont do much for ourselves...if i get 20 dollars for myself i go and spend 18 dollars on our daughter then get a soda for myself....this way i can get stuff she needs and still get stuff i need, like i could go out a spend 5 dollars on a nail kit i do at home but for this one time a year i can go out and spend 20 dollars and get my nails done...and if i put away 30 dollars, then thats 3 times that i can go and get them "fixed" (filled) and its a little luxery whereas everyone else whos way better off then us may think that getting your nails done isnt something big, it is for me, and my hubby wants to upgrade his comp, well that 300 dollars will do it and thats something that will last him for a whole year.... and i will also wind up taking our daughters 300 dollars and getting her a fisher price piano (50 bucks) since she loves music and the last cheap keyboard we got her broke withen 3 days..... the rest of her money will go towards pull ups, and a summer wardrobe since she is already outgrown from her last years.....
@limosonia1 (1559)
• United States
9 Jan 07
I would meet some where in between put the baby's money away in a savings account with the agreement that he finds somebody to throw you a baby shower. Sit down with your husband and have everything printed out including prices on the baby items. Go over them and what ever you don't get from the baby shower agree to purchase from the money. That way you can save some money he can see what it costs to get all these things and you get some stuff from friends to help out. I don't think 1000 is unreasonable but you can do it with less. Good luck.
@sweetgirl_k1 (3972)
• United States
9 Jan 07
I like your idea. I would put some in savings and then split the rest between you all. I would definitely keep out enough to get all the stuff for the baby. You can even get stuff from the consignment shop for cheap too and it wouldn't use up all of your money. And I would definitely use some to stock up on diapers and stuff like that cause you go through those fast. Just talk to your hubby and try to show him why you want to do it this way. It would be much easier to use some of it to buy everything the baby will need all at one shot, don't you think?
@reinydawn (11643)
• United States
9 Jan 07
I would make a list of everything you "need" for everyone. See how much cash you need to get that and start there. If there's some "left over" get a few things you "want" and put the rest in savings.
One thing you should think about though - stop paying in so much taxes all year long. Decrease what you are paying in by that $5,000 and put that in savings every pay check. It grows faster if you add to it more frequently. If you have direct deposit, this is very easy to do and you wont even notice the difference. You're losing money by letting Uncle Sam have an interest free loan all year long. That "overpaymnet" you made last year is not something the government is "giving" you, they're GIVING IT BACK to you, it was yours all along. Keept it from the beginning. It also makes it easier to buy the things you need during the year until having to wait until Uncle Sam gives you your money back.
@o0miss_mandy0o (53)
• United States
9 Jan 07
I think you should evaluate the teamwork necessary in a marriage. It sounds like putting money into savings is an excellent idea, as is investing in necessary items for the future arrival. (Congratulations!) I would do it this way:
1) Buy what you need for the baby.
2) Buy what your other daughter needs, like back to school clothes. or, if she eeds nothing, then plan something fun and family oriented to do. Doesn't have to be huge, but a daytrip to a local museum or amusement park, etc.
3) Do you and your husband individually NEED anything? Clothing for work, or money to pay off educational debt? If not, then either take yourselves out to a nice, romantic dinner or proceed directly to step 4.
4) If you don't have retirement funds and college savings put the rest of your money into those immediately. If those are in place, and that is what is meant by savings, put the remainder there.
It sounds like this money is communal, and I believe it should remain so.
