With double income , nuclear families being the order of the day , one wonders which is the best arrangement for managing the finance of the couples.
Which is the best option...having seperate accounts with one joint account for paying the bills or a common account where all the incomes are pooled and all expenses met from this account ?
It is very common for the wife to manage her 'own' money where a huge dowry is involved . So what are the expenses that she wld use this money for ? What are the expenses her husband is expected to bear ?
What about home-makers ? Does she get to have an equal say in the financial decisions of the family even if she does'nt contribute to the income ?
Invariably , when there is a slightest problem between the couples , this is one of the major complaints..disagreement on how the monies shd be managed and what it is to be spent on. And it mainly involves helping out his /her parents.
Is it so very difficult to draw a budget and fix a range or a max amount that a spouse can spend on their pet interests ? When the couple promises to share their lives....why cant they share a joint account ? why should each expense be appropriated to either of the spouse's account ?
Just wondering ............
4 weeks ago