This question is directed to married couples, both of whom work. How do you split your monthly household expenses? 50/50? What if the guy makes much more than the wife?
Are both paychecks deposited into the same bank account?
Re: How to split household expenses with spouse?
i don' work now but when i did i kept my money with me (in separate account) n will take it out only in need of urgency. So if ur hubby earns good n u can easily make within that amount keep ur money in savings or invest it for future.
Re: How to split household expenses with spouse?
We have a joint checking account, saving acct and a joint credit card account. We dont believe in the hubby and wifey having separate accounts. Nothing should be hidden or off limits from the other spouse. All is out in the open, expenses, withdrawals, deposits, etc...
I used to be the sole worker in our relationship while he was clearing his USMLE exams for residency. Now he has gotten residency Alhumdullilah and makes more than me. But it makes no difference. We would still have the joint account no matter who makes what.
Re: How to split household expenses with spouse?
We both have separate current accounts in which our wages are paid into, we have a joint current account (where all the bills are paid from) and my husband transfers some of his money into that. We have a joint savings account that we both transfer money into and other separate savings.
Re: How to split household expenses with spouse?
We paychecks were deposited into one account that we both used as needed.
Re: How to split household expenses with spouse?
Wow it seems joint account is the norm now days. Is there any reason why couples always want joint accounts?
Can't the bills be split 50/50 by still keeping your separate accounts?
I'd want to wait and see how my husband spends money before I get a joint account, because if something happens where I don't agree with him spending money on certain things/people than I most certainly would want to keep my account separate.
Re: How to split household expenses with spouse?
we do hav a joint account but since my hubby tends to over spend more than i do i hav separate savings where he has no access. i think a wife should hav her own savings too as ther's no guarantee to any thing.
Re: How to split household expenses with spouse?
Im not working anymore, but when I was, my paycheck went entirely into savings and all the spending for us came from his income. We never felt like this part is "my money" and this part is "his money". We just did it like this to make saving easier, since his income was more than enough for us to live on and we were able to save mine entirely as we are saving for a house inshallah. Any major spending we always consult each other. Now Im not working. His income goes to our joint account and still I never feel like this is "his money" or anything like that, I spend what I need and again for any major expense I always consult him, as he does with me. I do still have a seperate account from before I got married that has my mahr in it, plus some other savings I have. I dont usually touch that and my husband has never asked me to add it to our joint savings
Re: How to split household expenses with spouse?
the reason i ask this question is.. what if you know your spouse is really greedy and considers that all the expenses should be split in half even though he makes 5 times more than you make.
each time you spend your own money or make a large purchase (not exceeding $250), you are always criticized, however he expects you to spend your money on him (purchasing hundreds of dollars worth of merchandise) and he buys you stuff from walmart (changing the gift boxes to make it appear as if he spends alot on it). **
Prior to marriage**, when you purchased a vehicle, he flipped out because it was so expensive and he has also borrowed several thousands of dollars (prior to marriage) but never returned it.
Obviously the warning signs were present before marriage, but what do you do now that you are married?
Re: How to split household expenses with spouse?
u do quiet savings. open a saving account. or invest ur money in some funds, buy shares etc. no need to tell everything u buy n how much u bought it for. if he's not very good in reading bank statements its easy for u to transfer ur money in separate account. but keep it slow n smooth. no big n sudden transactions.
What's yours is yours and what's his is yours, too.
If he changes the Walmart stuff to make it look more expensive, tell him to spare you humiliation and refrain from spending money on you. Do everything on your own and then tell him to mind his own business. Sorry but what an ass.
Re: How to split household expenses with spouse?
how wierd is that.
it doesnt even sound right
I was going to write a nice little entry about how we go about our money expenses.. but this is crazy. Not worth it
There are other issues here.
There should be no his and ur money. It should be "our" money.. simple. Hence, the question will not arise about how to spend your and his money.
I can understand husbands flipping when spending over the limit. And for me, even $250 is huge money when it comes down to certain things. Depends on what ur spending it on though. If you're getting something for the house, $250 aint much... if its shoes, then obviously id be thinking twice about it
and really, if he gets something from wallmart and wraps it in an expensive bag... does that mean he knows u might be kinda materlistic? would u still be happy if u knew it was from wallmart and wrapped in wallmart?
Then I think the couple needs to seriously sit down and discuss their finances. He shouldnt even be asking his wife to contribute to household expenses, if she wants to thats fine, but he shouldnt force her to, thats his responsibility to cover it. Nor should he tell her how to spend her own money. Obviously if she is going out and buying $1,000 shoes when they really need that money for other things, its a different story, but if he is making so much and is still greedy about where she spends her earnings, he really needs to chill out!! The way you treat your wife is way more important than how you spend your money, he needs to learn that if he wants a happy marriage!!
Anyways I think she should tell him about which things she does not like and discuss it with him to deal with it, otherwise money can really create problems for a couple if they dont see eye to eye on certain issues
Hope it works out for them
the reason i ask this question is.. what if you know your spouse is really greedy and considers that all the expenses should be split in half even though he makes 5 times more than you make.
each time you spend your own money or make a large purchase (not exceeding $250), you are always criticized, however he expects you to spend your money on him (purchasing hundreds of dollars worth of merchandise) and he buys you stuff from walmart (changing the gift boxes to make it appear as if he spends alot on it).
Prior to marriage, when you purchased a vehicle, he flipped out because it was so expensive and he has also borrowed several thousands of dollars (prior to marriage) but never returned it.
Obviously the warning signs were present before marriage, but what do you do now that you are married?
how wierd is that.
it doesnt even sound right
I was going to write a nice little entry about how we go about our money expenses.. but this is crazy. Not worth it
There are other issues here.
There should be no his and ur money. It should be "our" money.. simple. Hence, the question will not arise about how to spend your and his money.
I can understand husbands flipping when spending over the limit. And for me, even $250 is huge money when it comes down to certain things. Depends on what ur spending it on though. If you're getting something for the house, $250 aint much... if its shoes, then obviously id be thinking twice about it
and really, if he gets something from wallmart and wraps it in an expensive bag... does that mean he knows u might be kinda materlistic? would u still be happy if u knew it was from wallmart and wrapped in wallmart?
the wife is not materialistic at all, everything she has she's worked really hard for and she expects nothing from her husband. her parents have taught her to be financially independent. however, the husband's greediness is a reflection of his own parents. Her in-laws are extremely greedy, always asking him for money. So therefore he feels he has the right to ask the wife for money and control the way she spends her money.
she asked him for one gift since she's never received a birthday gift from him. She wanted to go to the China Olympics. She would pay for the plane tickets and hotel (over $3000) and all he had to do was to pay for the tickets ($750 each). He refused and stated since she wants to go, she should pay for everything even though he promised her it would be a birthday present. Mind you, mashAllah they have the money, so that is not the issue...
she doesnt know how to split expenses and accounts... she has spoken to him several times, even prior to getting married, but just like his parents, he doesn't change.
Re: How to split household expenses with spouse?
do u live with ur inlaws?
Re: How to split household expenses with spouse?
sorry its not me, am not even married yet, but she does not live with her in-laws. She doesn't have the pressure of having her in-laws around because they really don't care about her or their son. They just look at their son as an ATM machine. They always borrow money from people and come running to their son when the people demand their money back. The father has even threatened to kill himself if the son doesnt give them money.
she knows her husband is the way he is because of his parents, she just doesnt know how to resolve the problem. She has her own parents to support as well
Re: How to split household expenses with spouse?
Wow, this guy sounds greedy and stingy. First of all, according to Islam, he has no right to ask her to spend even a penny on household, food, clothing etc. These are to be provided by the husband, if the wife wants to that's up to her but he has no right to ask this of her.
The in-laws asking for money from him is a big issue, as this is part of the reason he is asking for money from his wife. A man is to take care of his wife and children BEFORE his own parents.
I think the wife needs to remind him of his duty as her husband and provider...
Re: How to split household expenses with spouse?
i think the wife should quit her job n take up a course. don't work for couple of yrs n he'll know he's the only provider so he will provide
Re: How to split household expenses with spouse?
^ agreed...
the reason i ask this question is.. what if you know your spouse is really greedy and considers that all the expenses should be split in half even though he makes 5 times more than you make.
each time you spend your own money or make a large purchase (not exceeding $250), you are always criticized, however he expects you to spend your money on him (purchasing hundreds of dollars worth of merchandise) and he buys you stuff from walmart (changing the gift boxes to make it appear as if he spends alot on it). **
Prior to marriage**, when you purchased a vehicle, he flipped out because it was so expensive and he has also borrowed several thousands of dollars (prior to marriage) but never returned it.
Obviously the warning signs were present before marriage, but what do you do now that you are married?
Kahtifa, it can't really be an "equal" split if he makes five times more money than you.
Here's an idea...although I don't know how well it would work. You and him can have a joint account....and a personal account. And if you're working....you can contribute a set portion of your pay check into the joint account. The remaining amount of your pay check can go into your PERSONAL ACCOUNT (which he should not and will not have access to). The money in your "joint account" can be spent on household expenses and joint activities (such as eating out, vacations, etc).
For personal expenses (let's say you want to buy yourself a car...or clothes...etc)......you can take from your personal account. That way....hopefully....he won't throw a fit if you want to treat yourself to a nice outfit because the money came from your own personal account.
************ I'm getting the vibe that you're feeling stressed about your husband's behavior. If your husband's obsession over money and expenditures are casing a strain over the marriage..........PLEASE.......talk to him about this issue and make him aware of how you feel. I understand that the economy is under strain and that times are tough for everyone, but money should not be taking priority over relationships.