Are you aware of your financial situation?

[bleedingheart]

I have recently had conversations with two friends, who have let their spouses control ALL the money.
Now that can be just fine, especially if it is something you don't like dealing with. In my family I make out the checks..etc

HOWEVER...this is no excuse not to know what is going on...

I talked to someone last night who has NO clue what assets her spouse and she have accumulated in 20+ years of marriage...that is ludicrous.

This is exactly how some couples find themselves buried in debt because of "hidden" credit cards, or even reckless spending on other fronts.

My husband and I go over our finances about every 2 months. He knows I take care of stuff...but I like to have his perspective and sometimes we discuss different saving or spending issues....if I croaked tomorrow...he would know where everything is...

[WritingIsMyReligion]

1. I'm not married or anything such as that.

Hell, I'm not even old enough to sign for anything!

But that is kooky--I'd feel like a total tool, to not know what is going on. Plus, like you say--what happens if/when the other person kicks it? Anarchy?

:crazy:

[bleedingheart]

2. the older I get the more I see of this and it is scary

[barb162]

7. same here and it's mostly women who let the men handle everything

[Nicole]

3. Yes

I'm single so I'm all too aware. :rofl:

I was also very aware when I was married, which came in handy when we split.

[PowerToThePeople]

4. I am aware

That I am broke.

[Generic Brad]

5. How could anyone let that happen?

My marriage is a partnership. My wife and I have no secrets from one another, and that includes our financial status. We take turns writing the bills and agree in advance on every purchase over $50. I feel sorry for people who do not want to know or are being lied to.

[LynzM]

6. I agree, GB

I find it mind-blowing when one spouse is completely ignorant, if for no other reason that the "what if the other one dies" aspect! While my husband and I share much the same way you and your wife do, I know relationships where it's necessary for one person to be "in charge." Still, even if you're not in charge, you can be informed...

[bleedingheart]

9. it is mind blowing...

and how people, (both men and women) have no clue where their money may be going is bizarre.

A few years back a friend of mine was with her husband at an Army base in California. She turned her paycheck over to him. They were living a very meager existence and she could not figure out why their finances were so tight.

Well....turns out her husband purchased a piece of property without telling her and he was making double and triple payments on it to clear the debt faster...meanwhile they are living on mac and cheese with three kids in tow....when she found out what he had done she felt really betrayed because he had never consulted her.

He also took a pension agreement with the military that leaves her nothing if he dies...how he did that without her consent ..I don't know either becuase I thought the laws had changed in that regard.

[Broken_Hero]

8. my wife and I

know exactly where are finances are...going down the toilet, and going down faster, than before...:( Shit keeps adding up, gas costs more, food costs more...it sucks. We are, currently..if we are out of work for a a few days, we are sunk...

[bleedingheart]

10. you are not alone....

with gas prices going higher...and job insecurity...i don't know many people who aren't watching as their money isn't going so far today...

[wildhorses]

11. sadly, yes

in spite of it, I choose LIFE;)

[sendero]

12. Being the enlightened male that I am...

... (:) :) :)), I've always believed in separate finances. My wife and I have our own accounts, our own credit cards, etc. We have a joint account that we pay all common bills from, like groceries and utilities.

Operating this way takes money almost completely out of the equation as a source of conflicts. We of course consult each other about any kind of major expenditure, since our fortunes are irretrievably entwined.

But for example, when she spent $400 on a pair of new glasses and a couple months later decided that she hated them - hey it's her money :)

[bleedingheart]

13. we tried that...didn't work in our case...made stuff too confusing

and with two small kids...it is easier for it to be combined...

however i can see how that would be of benefit...