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Old 05-03-2017, 07:12 AM   #11
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This thread is so interesting! I love reading how other people manage their households.

Growing up, my parents were very wealthy. My dad worked, my mom sometimes worked part-time and sometimes stayed home. My dad has always handled all the bills, wrote all the checks, even mailed the bills - my mom did nothing with money except keep her spending at a reasonable level.

My husband grew up with a single mom that worked several jobs to keep them alive. She never had money, and now that she has some coming in every month from social security and disability, she spends extremely frivolously and doesn't save. My husband also grew up with his grandmother like a second mom, and she is the same way as her daughter. Both of them have more money coming in each month than we do, yet they are constantly complaining about how broke they are and they can't afford anything and looking for handouts. Side note: My MIL has two 60 inch tvs in her house currently, a laptop, a desktop, two kindles, an iPhone, and goes to the movies every week....I have no pity for how "poor" she is.

Anyway, two years ago I found the budgeting software You Need a Budget and it's changed our lives. Prior to that, we were trying to live by Dave Ramsey's budget advice and trying to survive using a homemade excel budget spreadsheet. YNAB turned all that around and a year ago I was able to become a SAHM. We barely make enough to survive right now, but over the past year we've been able to pay off over $10k on my car and will have it totally paid off in a couple more months. I mind the budget entirely and pay all the bills. My husband knows generally what our budget looks like and sometimes works on it with me, but it's entirely up to me to make our dollars stretch every month and make sure our necessities are covered. It's very stress-free this way and it curbs my husbands spending when he doesn't know "exactly" what our budget categories look like. He's not a big spender anymore, but he would definitely rack up the bills if I wasn't so strict about the budget.


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Old 05-03-2017, 08:08 AM   #12
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Re: s/o How do you handle your family's finance?

Growing up I learned to write all my income and outgoings in a log book, and started raising dogs at 13 which bought in a Good amount of money which I carefully kept track of.

When I got married it came as a suprise that my husbend never kept track of His money nor do His parents keep a list of their spending.

He works and I stay home with our children. When we were renting he would give me the money to pay for the rent and water bill. We both do the shopping together. And if I need money all I have to do is ask since he only has one bank account and I am not on it, but he always give me money when I need it.

We spend very little since I hate spending money enless needed. I buy all our childrens clothing and mine mostly scound hand so that saves us alot. And food is fairly cheap here (Bolivia) which is nice. At the moment we live with my in laws as we wait for my husbends green card to come through to save on expensas since the kids and I are flying to the USA to be with my parents the 24th.

I am sure the money handling with change once in the USA my husbend says if you want to keep track go ahead and do all the finances he trust me with our money as I do with him. He mostly just spends money on his Lunch at work the rest we spend together. Works for us though I would like to do a budget plan
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Old 05-05-2017, 06:54 PM   #13
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Re: s/o How do you handle your family's finance?

Here it used to be me, doing the bill paying, dh checking in occasionally. But I always had the bills paid on time. Now Dh has taken over paying the bills for the most part.

As for how it goes, mine goes into direct deposit into 2 different savings accounts (vacation/gifting and everything else) our EF is in a totally different bank so when I can I'll transfer money over to it. When he gets paid he has all of it go onto a credit card that he takes to the bank for his 1 free withdrawal per pay period (he doesn't want the employer knowing his banking info), he pulls out enough cash for me to purchase the day to day items and his as well and the rest goes into the checkbook.

He is doing a better job at the budget than I did. He sees money in the account and says NO its got a home, whereas when I saw it there, I would put it towards a bill (hospital bills need to be paid off why worry about the upcoming car insurance bill that's not due for 3 months) or move it over to EF. It also helps my stress level that he is doing it. Things I don't appreciate since he took over, "why are we spending so much on medical bills," he asks me, duh you wanted us to have the higher deductible since it was "cheaper" so now he tells me I can't see a dr to figure out what's going on with me. Next time I'm taking the lower deductible option so I can see a dr spending 1300 for 1 appointment mind blowing.
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Old 05-07-2017, 09:37 PM   #14
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Re: s/o How do you handle your family's finance?

This ^^ this is what saves our bacon - having the money directly deposited into separate accounts where we need it. A certain amount of each paycheck automatically goes to charity/tithing, savings, EF, and what is left goes into the checking account for bills. If it all landed in checking and we had to choose to put it in savings or charity or whatever, I think we would spend it all and not save or give much. Since we never see that money, our savings builds up before we know it, and giving to charitable causes is easy because the money is already set aside for it.
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Old 05-09-2017, 04:38 PM   #15
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Re: s/o How do you handle your family's finance?

We have one joint account. Right now we both work but I will be a SAHM once our LO is born. We use the app "EveryDollar" to plan our spending into different categories, and we both track it as we spend. We decided on a set amount for each of us to spend on whatever we see fit each month, but other than that we really only spend on the things we have planned for and save a lot.
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Old 05-18-2017, 04:01 PM   #16
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Re: s/o How do you handle your family's finance?

I handle the money. Each pay day I leave out $200 for gas and misc. Dh drives an hour and a half each way to work, so we spend a lot on gas. Dh does not have a debit card. He had one early in our marriage and took $300 out of our savings to gamble. Nope. We were saving for a house and I was not happy. He does have a credit card for emergencies. Where he works gets a ton of snow, so sometimes needs to stay in a hotel.
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Old 06-02-2017, 08:35 AM   #17
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Re: s/o How do you handle your family's finance?

For anyone looking for a basic foundation in personal finances, I strongly recommend The Total Money Makeover by Dave ramsey. If you're more of a auditory learner, check out his radio show or podcast to glean sound financial advice through callers that present real-world financial questions.
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Old 06-24-2017, 03:39 PM   #18
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Re: s/o How do you handle your family's finance?

We have set amounts for certain budget categories, but we each have a "fun" budget that we add a little bit to each month. We make all financial decisions together, except our personal fun money, which we each speaks very differently. That way we never feel like we have to ask each other's permission to pursue a hobby or go out to eat/get coffee with a friend. Works for us!
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Old 11-19-2017, 05:21 PM   #19
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Re: s/o How do you handle your family's finance?

We are working on the Dave Ramsey plan.
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