Getty Images
The article mentions several studies that were conducted about ways married couples handled money issues. I read through the findings with my jaw dropping more and more as the article went on:
- In one study, 50% of the couples came up with completely different numbers when asked to estimate their family’s income and net worth.
- 1/3 of those surveyed said they’ve lied to their partner about money.
And here’s my favorite:
- 1 in 5 admitted hiding purchases from their spouse.
Wow. I don’t get this. At all. I’ve never hidden a purchase from my husband, save for a present I was buying for him that I was hiding in the closet. We both know where our money is, what investments we have, how much we spend on food per month. I am sure if you asked us we’d be off by a bit here and there, but completely different answers? No.
I am probably more of the money manager in the family — I like to say it’s because I’ve always worked in finance but my husband would probably say it’s because I am more anal. Regardless, while I pay the bills (online, always), we have a Yodlee account which we both regularly check to see the status of our various accounts and so on. We’ve done this when we hardly made any money and at times when we were doing really well financially. I think it’s the responsible thing to do.
But I have a good friend who has a separate account from her husband and so does he. They also have a joint account into which they contribute for household expenses, like mortgage, food, etc. She told me that how she chooses to use the money in her personal account is her business entirely and he rarely knows or asks about it.
How do you handle money management in your family? Have you ever hidden purchases from your spouse or partner?
Nataly Kogan is the co-founder and CEO of Workitmom.com, an online community and helpful resource for busy moms.
Recent posts from The Work It, Mom! Blog:
Working two jobs: Necessity or pursuing your passion?
Having an only child: Why is it such a crime?
