How Couples Should Handle Money
Posted 12-05-2014 at 02:15 PM by Pinkmani
***This is my personal opinion.
Each person, whether single or married should be budgeting. Write down how much you make each month and assign a place for each dollar. ($_____ for rent, $____ for car payment, $_____ for utilities, $_____ for student loans, $_____ for entertainment, etc.)
For SAHMs: It's not his money, it's our money. There shouldn't be such thing as an "allowance". Your spouse is your partner, not your child.
For two-income households: It's not just his money or my money, it's our money = joint account... After bills are paid, you assign the rest to savings accounts and fun money. So, let's say after bills, there's $2500 left. Each person could get $350 for spending money and the $1800 that's left over goes towards savings.
For unmarried couples: You should each pay a percentage. If he brings home $5,000 and you bring home $3,000, that's $8,000 total. Let's say your monthly expenses total up to $3200, that's 40% of $8000. Therefore, each person should contribute 40% of their income towards the expenses. You would pay $1200 and he would pay $2000. Whatever is left is for you to spend however you like. That's the fairest way to do it.
Each person, whether single or married should be budgeting. Write down how much you make each month and assign a place for each dollar. ($_____ for rent, $____ for car payment, $_____ for utilities, $_____ for student loans, $_____ for entertainment, etc.)
For SAHMs: It's not his money, it's our money. There shouldn't be such thing as an "allowance". Your spouse is your partner, not your child.
For two-income households: It's not just his money or my money, it's our money = joint account... After bills are paid, you assign the rest to savings accounts and fun money. So, let's say after bills, there's $2500 left. Each person could get $350 for spending money and the $1800 that's left over goes towards savings.
For unmarried couples: You should each pay a percentage. If he brings home $5,000 and you bring home $3,000, that's $8,000 total. Let's say your monthly expenses total up to $3200, that's 40% of $8000. Therefore, each person should contribute 40% of their income towards the expenses. You would pay $1200 and he would pay $2000. Whatever is left is for you to spend however you like. That's the fairest way to do it.
Total Comments 3
Comments
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I agree with the rule for unmarried couples. However, I do believe even married couples should keep separate accounts and maybe have one joint one. Maybe it's all the divorces I see or people abusing the money. It just takes the co-sign long out the equation if things go wrong.Posted 12-06-2014 at 01:52 AM by YolandaC2014
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All of the advises are great, unlike unmarried people, married couples also have to save some money to spend on unexpected expenditures just like on the <a href="http://orthopedicsurgerysandiego.com/">sports medicine</a>, friend's birthday or any other occasion.Posted 12-09-2014 at 12:29 PM by angelrobert
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Well, I'm glad you like the rule for unmarried couples. I guess married couples could follow that one, too (in order to do the joint acct. and separate acct. thing).Quote:Originally Posted by YolandaC2014
I agree with the rule for unmarried couples. However, I do believe even married couples should keep separate accounts and maybe have one joint one. Maybe it's all the divorces I see or people abusing the money. It just takes the co-sign long out the equation if things go wrong.Posted 12-19-2014 at 10:14 PM by Pinkmani
