Handling finances in marriage can be tricky. Is having a monthly budget with mutual consent a good idea?

Handling finances in marriage can be tricky. Is having a monthly budget with mutual consent a good idea?

10 replies
June 7, 2017

10 Comments

  1. I think the problem of finance is always about the extra…how shdould the extra be spent. Whatever the couple may say they always have different needs. A man may want a vehincle accessory while a woman a kitchen equipment or some apparel! I think what needs to be discussed is the destination of this. extra amount.  *p*

  2. I think its a must and needs to be discuused openly specially in a situation when both are earning. Either they mutally agree to pool all their earnings into a joint account or deal with things separately, they need to decide who bears what , where the savings need to go into. Though it may sound rigid to some, one should not forget these are 2 individuals with different perspectives and its important to spell out things to avoid bitter instances later.*p*

  3. You are absolutely right. I do not think there is any problem at all. That is a very good idea. Saving money is always important. I think every family should sketch their own monthly expenditures and accordingly save some money for the future. Its a good way to secure the future for sure.*p*

  4. Yes, it is a tricky subject indeed! If both partners are earning, it would be a good idea to save one salary and have a budget for the other one. If only one earning member is there then a certain amount of financial discipline is warranted. Chalk out the monthly requirements on essential things like food, entertainment, petrol, wifely requirements etc. Add up and see how it matches with the salary. As a rule keep 10% away from the salary total before matching it with the expenses. Avoid frivilous expenditure by noting down every paisa spent. Do this for three months and you will see a trend.*p**p*There is yet a man to be born who can earn more than what the wife spends! Jokes apart, it would do one some good to do a little finacial planning for home affairs.*p*

  5. Money can be a  major area of conflict in a  marriage. *p**p*It is a good idea for  couples to come to an agreement on `yours, mine and  ours`*p**p*Yes. Its a good idea for  couples to structure their finances and have a budget*p**p*Each of them should contribute to the  following in a  joint account *p**p*1. Account for fixed house hold expenses *p**p*2. Account for  children education *p**p*3. Vacation expenses *p**p* *p*

  6. Good point.*p**p* I think it's a good idea to contribute 50/50 for a house mortgage.*p**p*other common expenses should be according to the proportion of income. For example if the husband earns 80% of the total family earnings he should contribute 80% of the common expenses.*p*

  7. Interesting.. Thanks*p**p*There is yet a man to be born who can earn more than what the wife spends!*p**p*Lol*p**p* *p**p* *p*