When a couple thinks of marriage, they think of love, romance, and building a future together. Money is anything but romantic, but a smart couple considers the practicality involved in growing together toward a secure future.
Many couples ask, should we have separate bank accounts? The answer is no, unless you have reason to. That is, some people make prenuptial agreements and decide to keep separate accounts. If this does not relate to your situation, then keeping mutual accounts is a good idea.
Other money matters include investments, property, liabilities, and assets. There are many aspects to money management and it’s a good idea for both people in the marriage to be knowledgeable about them.
If you happen not to be working, but rather staying home and caring for the children, you may feel out of the loop in terms of money and money management. Maybe your husband is responsible for being the breadwinner and you feel a bit powerless not making “your own” money. It’s time to communicate the frustration or anxiety to your husband.
Many housewives are actually the ones who take care of the books. They pay the bills and maintain all bank accounts. Some husbands don’t want to be responsible for these things, though a husband may be the only breadwinner in the home.
On the other hand, some husbands are very controlling with the money and the paychecks they earn, and only provide their wives with an allowance. This can be intimidating and make a woman feel powerless. Once again, open communications is important. If you’re in this situation and feel like your self-esteem is being drained, let your husband know how you feel. Work out a plan that allows you a sense of belonging, in terms of financial or money management issues, so that you will feel better about money matters.
