Thursday, July 31, 2008

Love Q #14 - Couples And Money

This week Love Q created by the author of Short Sweet Love Poem are as follows:


Should you have a joint account with your partner? And should you keep tabs on what he or she may be spending on?


My answer:

I think having join account with your partner is a good thing to ensure savings responsibility and also for emergency usage or provision for children's education funds, etc. Ideally, both has their individual separate saving account and contribute a certain percentage of their monthly salary to the joint account. Having this, the join account would be very useful for the rainy days ahead too. But this only applicable if both are working else there is no point having a join account when only one of them is working and the other is not. Keeping tabs on what he or she may be spending on should be done discreetly. After all, husband and wife has equal rights to monitor the family expenditure if they want to achieve a reasonable state of financial stability in a marriage. Keeping tabs if you must, but do not over do it until it spur up disunity. Having said that, both husband and wife should practise caution in their spending because over indulgence is not a good thing if it happens too often.

Last week's Love Q: Appearance When Dating

5 comments:

Tot's Mom said...

You are certainly a very rational person. Haha! I think this issue depends on our own perpsective on money. For me, I don't see the need to monitor what my husband spends on. I don't go through his credit card statements either. If he spends responsibly, why bother? But I also have a friend who keeps tabs on her husband's payday and then transfer a large amount into a joint account monthly. She has all the passwords, of course. Well, different things work for different people, I guess. :)

Xilly said...

I don't maintenance a join account with my hubby. Both of us manage our $ independently. :P

Do you still remember the 08.08.08 tag?

http://yapnwun.blogspot.com/2008/08/what-you-will-do-on-080808.html

U.Lee said...

Hi Amidrin, my wife and I have had a joint account since the day we got married...1 month after I married her, we open a joint account...so she knows what I spend, I know hers,....but I'm the one who do the paying of bills, debit and credit weekly.
Never had any problemos all the years..
thus she also knows if I get up into any michief, ha ha.
But I'm now a well behaved gentleman since getting married...and she knows it..as can check if money unaccounted, ha ha. Lee.

Amidrin said...

tot's mom: Me, rational? haha... yes, I think you're right. Different things works for different people.

xilly: Thanks for reminding me. I almost forgot about it.

u.lee: Your wife is so lucky to have you as her husband.

JTS said...

This is a great post. Anyone interested in couples and money should also check out www.financialintimacy.info and the work Spencer Sherman and Anne Watts do. It is an amazing experience.

Thanks.