The old adage is true: money makes the world go around; it makes your family go 'round too. Managing the money is a big responsibility, and it can be something of a drag. So, we at Momversation wondered how you split the fiscal duties in your household. Is the primary breadwinner the family accountant? Are the money assignments split 50-50? Or does the person who hates the bill-paying chore the least get stuck with it? Dana Loesch of Mamalogues asks, "Who controls the checkbook?"

How does it work in your family?  Do you or your spouse handle the money?  Is it a bone of contention in your relationship?  Is the economy causing stress?  Or do you have an easy time sharing the fiscal responsibilites?  Join the Momversation by commenting.


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Showing the Latest of 20 Comments

Odryki
7 months ago
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Meghan Lewis
1 years ago
I do in my household. My husband couldn't balance a checkbook to save his life!
 
acm
1 years ago
We're in the category that kept our pre-existing accounts but simultaneously don't really worry about money -- we alternate mortgage payments (in part because for a long time we filed taxes separately), each have an assigned subset of the bills, and have separate retirement accounts. Periodically, if we have "extra" money, we decide what to do with it (baby's college account, put toward mortgage principal, other investments), and we make all major financial decisions together. I guess we also tend to be "in charge" of different realms of spending -- he buys the majority of the groceries, I buy most of the family's clothes and other household needs. Anyway, it all pretty much works out, although if our finances shifted majorly (e.g., if I were to stop working my half-time job), we'd need a new system to keep both accounts flowing. At this point, we might well do a joint account system, but the current system allows us to avoid conflict over different spending and record-keeping styles (i.e., he tracks all his spending with a computer program, and uses that to "balance" his checkbook and credit card balances, while I balance my checkbook manually every few months and cross-check my credit card bill every month, but would go nuts if I had to enter every number into the computer and/or keep every receipt). As it is, we tend to act as ATM's for each other, since keeping cash handy eludes both of us... Reading all the comments (and writing this one), I realize how lucky we are that we don't need to track our spending more closely. If we were barely covering expenses, or if we were in the process of saving up for a downpayment or something, it would all take a lot more discussion and planning. I guess that's a benefit of marrying late in life, that you have already accumulated a little cushion and/or some job seniority. Also an argument for keeping your fixed expenses from getting too intense...
 
brandiwithani
1 years ago
I guess I'd have to say I'm pretty controlling in the financial aspect of our marriage. I was the sole provider for myself and 2 children before my husband and I married, and am now the sole provider for myself my husband and 3 children. I don't mind earning the money. My husband stays home with our daughter, and all 3 kids in the summer, and works side jobs here and there. I'm an accounting manager and my husband sucks with money, so just naturally I'm keeping control of it. I pay all the bills, do the grocery shopping, buy the kids what they need, etc... My husband gets an allowance out of what I make, and when he does a side job, he keeps a small portion and gives me the rest. It's been working pretty well for us. I know I'd be severely uncomfortable giving up control of the finances.
 
Aceiatx
1 years ago
My husband and I both work because we have to to maintain our house and lifestyle. I would be happy to stay home and care for my child and he would be happy to be a house husband... sadly, neither of us really have that choice. We learned early in our relationship that we each had different strengths and weaknesses when it came to certain chores. We divided our housework by that factor and not by the expected gender roles. I wash laundry, vaccume, clean bathrooms and pay bills. He cooks, washes dishes, folds laundry and grocery shops. He was awful at paying bills on time, mixed color loads of laundry and could not see the grime in the bathroom. I am not a great cook, loathe washing dishes and am a terrible impulse shopper. We manage the two incomes in a mutually agreeable way. We each have our own accounts and then we also have a joint account. We both pay all of our paycheck into the joint account except for a $100 allowance we each get per paycheck. The joint account pays all household bills and all necessary expenses (basic clothing, food, combined activities, children's items). The allowances are for us to save or spend as we like without consulting the other person. They tend to be used for dates or gifts for each other, electronics (him), fashion clothing (me), and any other impulse shopping. Since we are both adults, neither of us wanted to have to ask permission of the other person to make a personal purchase and this has worked out well.
 
TtownAnne
1 years ago
My husband controls the checkbook, and that's just fine with me. He's an accountant, he does it for a living and he's good at it - would it not be a little disingenuous of me to say "oh no, let me handle that!" My math skills suck, I can freely admit it. He does everything via computer, keeps track of all our investments, and just made sure it was possible for us to buy TWO new cars (you're welcome, Economy, for that stimulation) It's probably a bad thing that I don't even know some of the basics, but it's because of the online bill pay thing that I never see. We discuss all major purchases, he asks me to not go mad at the grocery store, and it's possible for me to stay at home managing things here. The best of both worlds for us.
 
mrs.notouching
1 years ago
We got out of debt about 3 years ago (the happiest day of my life! insomnia be gone!) and ever since then we've been on a budget. I get my 'allowance' he gets his and we can spend it on whatever we please, but the rest of the money is planned and accounted for at the beginning of the month... to the penny. He is a Bread Winna (but I so want that belt buckle too!!! LOL!) and he pays most of the bills but we both key in every receipt into a spreadsheet that is updated pretty much every night. It is hard, but it is a 'necessary' evil for us and it allows me to be a stay-at-home mom which is I love more than a new pair of shoes.
 
BabblingAbby
1 years ago
Checkbook, what's that? I should, but don't, balance a checkbook. It's a nasty terrible habit, and I should totally break it, but I've tried and failed. And tried and failed. Many times. I look online at our account several times a week, and keep a running tally in my head as to what's going in and what's going out. *NOTE: this hasn't always been successful - helloooo, overdraft - so I wouldn't recommend it. I make a monthly budget, TRY to stick to it, and keep my hubs posted as to what is going on with our finances. I pay all of our bills. It works. And we have had and will continue to have joint checking and savings accounts. That's just the way we roll around here :)
 
tornadochaser
1 years ago
My husband makes the money, I spend the money. Haha! I keep the budget and pay bills and he knows exactly where to look if he wants to know about it. I also tell him how much he can spend every week for his "allowance" for going out to eat, stopping at gas stations for drinks, etc. It works for us. When we first got married, I left everything up to him, I knew when the bills were due and the amount but beyond that that was all him. Shortly after our 1st anniversary, he joined the Army. That left me in charge of everything while he was in training then a little later deployed. He just never took back control.
 
VIP09
1 years ago
I guess I have to say I'm the one who controls the checkbook. With my husband always gone with courses, exercises and deployments; I'm the one who has no choice but to pay the bills. We have two accounts, one that was his before we got together. Then we added the joint account. I have my own account for savings because if it's in his account it would be gone. I love him but it's true! We still talk about big things like consolidating our loans and big ticket item purchases but for the most part I take care of the bills. He brings home the bacon and I cook it! http://militarywifemayhem.blogspot.com/
 

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