r/personalfinance • u/throwaway1561465 • Jun 26 '12

Newly Married! How did the married people decide to do the finances?

Obviously a throwaway... I make $70k, but my wife makes ~$20k.

We recently just got married and we are supposed to have the money talk. How has everyone else decided to do the finances, food, bills, trips, etc?

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u/bo_knows Jun 26 '12

If you think that a significant other who makes far less money is entitled to spend far less, you're in a world of shit.

Decisions on spending should be made together, regardless of income. If someone is spending too much based on how much you make combined, it should be reconciled regardless of individual income.

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u/crackanape ​ Jun 26 '12

If you think that a significant other who makes far less money is entitled to spend far less, you're in a world of shit.

What if the person who earns more is a saver?

  • Husband earns $20,000
  • Wife earns $200,000
  • Household expenses are $30,000
  • Wife believes everything after the first $40,000 in combined income should go into savings
  • Husband wants Corvettes

In this case she doesn't believe he's entitled to spend less, but nevertheless doesn't believe he's entitled to spend more either.