How often do you have "Money Meetings" with your spouse?

[Frances Gabitan]

I was listening to a podcast about money management in marriage and it got me wondering... how often should I talk to my husband about the way we're handling our finances? The podcast was awesome (here's a link to the clip for reference), and it brought up some of our problems.

First of all, I do not handle most of the finances. I worry that if anything happens to my husband, I won't know what to do. Secondly, I don't want to be a nag.

How do you handle this?

 

[Dave L]

I was listening to a podcast about money management in marriage and it got me wondering... how often should I talk to my husband about the way we're handling our finances? The podcast was awesome (here's a link to the clip for reference), and it brought up some of our problems.

First of all, I do not handle most of the finances. I worry that if anything happens to my husband, I won't know what to do. Secondly, I don't want to be a nag.

How do you handle this?

My wife handles all the household books and money management. We always discuss major spending and it works well this way. But it would be hard for me to take over if ever needed.

 

[bèlla]

I think it’s important for both to be conversant in household finances and develop the financial plan as a unit. This enables the other to step in if needs or demands require the primary person’s attention elsewhere.

You should have an up to date list of all accounts and contact numbers for professionals administering the accounts. Your name should be on them too. Making quarterly updates to this form is ideal due to mergers and changes in employment.

You should have access to all legal documents and their location within the house or safe deposit box.

There should be a medical document for each and those in your household listing allergies, ailments, and any information that must be conveyed in case of an emergency. Don’t rely in yourself to remember everything or anyone else.

You can store this information in a family binder under lock and key or a password protected document. You can find free binder printables on Pinterest.

You’ll need a current list of liabilities and creditors so you know where the resources are going. And login information for all accounts and services you’re using.

Once you have the documents in place staying in the loop will be easier.

 

[Ray Glenn]

When we were younger, we made a mistake of failing to inform each other about ATM use. The solution that worked was simple. Two different accounts.

All my pay covered all bills with one paycheck. The second check was free and clear. My officiating money was used for her Christmas. Bonuses and miles and hotel points used for vacations.

Other “bonuses” were a bit abnormal. I learned craps and used winnings to pad our adventures plus increase tithes and offerings.

All her pay was for her use. I took care of all “fun” stuff…Weekend get always etc. dinners.

 

[OldWiseGuy]

I was listening to a podcast about money management in marriage and it got me wondering... how often should I talk to my husband about the way we're handling our finances? The podcast was awesome (here's a link to the clip for reference), and it brought up some of our problems.

First of all, I do not handle most of the finances. I worry that if anything happens to my husband, I won't know what to do. Secondly, I don't want to be a nag.

How do you handle this?

Finances should be discuss prior to marriage. My fiance' assumed that I would be a good provider. Sadly the disastrous inflation of the 1970's combined with 'tithes and offerings' kept us broke for years, eventually contributing to our divorce. We were both blindsided by the inflation as well as my calling into the church.

 

[SkyWriting]

Finances should be discuss prior to marriage. My fiance' assumed that I would be a good provider. Sadly the disastrous inflation of the 1970's combined with 'tithes and offerings' kept us broke for years, eventually contributing to our divorce. We were both blindsided by the inflation as well as my calling into the church.

So it had nothing to do with your spending habits at the time?
All your financial problems were outside of your control?

 

[OldWiseGuy]

So it had nothing to do with your spending habits at the time?
All your financial problems were outside of your control?

The killer was the OPEC oil embargo. Up until then we were ok.

 

[SkyWriting]

The killer was the OPEC oil embargo. Up until then we were ok.

The world exists for your benefit. It doesn't do anything to you. It does it for you.

 

[OldWiseGuy]

The world exists for your benefit. It doesn't do anything to you. It does it for you.

I've got a pretty good handle on it now.

 

[mama2one]

we rarely discuss money & never had a disagreement on it
we're both savers not spenders so that's advantage