Although there may be some rationale behind this idea, it is still important both partners cooperate as a team. Food, clothing, shelter, little league, ballet, designer jeans, prom gowns, pickup trucks, college are all part of a long list of child-related expenses. SEE: Kids Or Cash: The Modern Marriage Dilemma Extended Family Her mom wants a vacation in Vegas. The joys of family often extend right into your wallet.
Not including the expenses related to children who have already left the nest either. Solutions Communication is the key to most marital financial challenges.
It also divides the spending power, eliminating much of the financial value of marriage.
Once the bills are covered, each spouse can spend what they have left as they see fit.
It sounds like a reasonable plan, but the process often builds resentment over the individual purchases made.
Power Play Power play often occur when situations like; he work and she doesn't, or he's unemployed and she's working, or one spouse earns more than the other, or one family has money and the other doesn't. Now one spouse is writing a check and the other wants to know why that money wasn't used to address needs right here at home or fund a vacation for "us." This works the other way too. Her mom will fund a new car since the one she's driving is a Honda, not a Lexus.
When these situations are present, the money earner (or the one who makes the most money) often wants to dictate the spending priorities. Nowadays, it costs on average nearly 0,000 to raise a child for 18 years. Of course, once you have them, you have to care for them in many ways. Her mom buys the grandkids extravagant gifts and his mom can't afford to match that kind of spending.
In fact, couples fight about money twice as much as they fight about sex, according to a Money Magazine survey.
And the challenges can actually start even before you say "I do." Mine, Yours, Ours Sometimes, when each spouse works and they can't agree on financial issues, they decide to split the bills down the middle or allocate them out in some other fair and equitable manner.