Who controls the checkbook? [VIDEO] »
Posted By AmyVernon 8 months, 1 week ago in FamilyThe 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, how do 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?
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DrCarlHindy8 months, 1 week ago
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As a psychologist doing marriage counseling, I've probably seen every possible family arrangement for paying the bills, and I'd say there's no right or wrong way. Yes, it depends on the abilities and interests of each person; and the its effected by who is the "worrier," who is the "spender," who is the more conservative and security-conscious, who worries less and "lives for today, who has the longer future time perspective (plans ahead), who is more concerned with physical comfort, who wants to plan a vacation, who wants to make extra payments on the mortgage ... on and on ... And these need to be balanced and discussed.
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Additionally, I would say it's very important that: (1) both partners agree on the arrangement, (2) both partners are involved and aware of "where the money goes" each month, (3) both partners feel equally vested in the process (i.e., it's not "he gets to spend it because he earns it"), (4) both partners feel equally vested in the future (e.g., they share the assets and debts), and (5) both feel they can communicate about the financial situation, and that it's open to review and modification at any time.
Carl Hindy, Ph.D.
Nashua NH Psychologist
http://www.hindyassociates.com
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