Who Handles Your Finances?

Posted by Mrs Money on March 31st, 2010

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Piggy Bank
Creative Commons License photo credit: alancleaver_2000

It probably will not come as a surprise to you, but in our household I handle our finances. It’s always been that way, and I think it always will be. When I was younger, I always wanted a man to take care of the money for me, but now I wonder if that would work out. I’m a little bit of a control freak, and I tend to worry if I don’t know exactly how much money is in our checking account at all times.  I do realize that I am weird. :)

I take care of everything money wise- our retirement planning, debt repayment, monthly bill paying, etc.  Mr. Money works 12 hour days so it’s not like he’s available to do all this any way, and he likes that I take care of all this for him.  Of course, if I were in his shoes, I’d be pretty happy to have someone do all that for me too!  I make sure to run things by him, especially if I’m wanting to make a big purchase, because it’s his money too, after all.  We’re a team, and that includes dealing with money.

I’m always curious as to how other people handle their money.  How much do they spend on x each month, where does their money go, how do they allocate it, etc.  Maybe that’s a little nosey, but at least I am being honest!  I think we can all learn from each other.

Being in charge of finances is a very important job, and I’m happy that my husband trusts me enough to let me have free reign over it.

Who handles your finances- do you, does someone else, or is it a joint effort?

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45 Responses to “Who Handles Your Finances?”


  1. In the past, I resisted handling the money on my own because it felt like a big, fat additional chore and because I worked more hours than my husband. And . . .since he doesn’t really like handling the money, if he doesn’t do it constantly, he mysteriously ‘forgets’ where everything is . . .hmmm. Basically, I made him handle the French finances and I handled the US stuff.

    But now I’m not working, and actually, I don’t mind taking on that task. I don’t think I hated taking care of finances as much as I thought–I just hated giving up my very limited free time to do it.

    But now that I have time, it’s a bit of a learning curve. Especially figuring out what to do with our retirement savings in two different countries. Ugh!

    [Reply]

    Mrs Money Reply:

    Simple in France- That must be confusing with the two different countries. I am curious to see what my hubby would do if he was in charge. I’m not brave enough to find out though! ;)

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  2. I do ours and do a monthly report to hubby. He pays 80% of his salary, after pension etc, into the joint account and keeps the rest to use as he pleases – normaly golf stuff!
    Doing it this works really well for us :-)

    [Reply]

    Mrs Money Reply:

    Laura- That sounds like a great plan! I love that you don’t have a problem with him spending the rest of his salary. That rocks!

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  3. I handle the finances in our family and our business. I enjoy it and my husband would rather eat bugs than balance the checkbook, pay bills and all of the other things that I handle. However, I don’t make any major decisions without discussing it with him first and the same goes with him.

    [Reply]

    Mrs Money Reply:

    Kristia- LOL That is too funny. I consult my hubby too before making any big decisions. I think that’s the right thing to do. :)

    [Reply]

  4. My husband prefers that I do it, and so do I! I’m a little bit of a control freak as well, so I sleep much better at night knowing what’s in the checking account and what bills have been paid. My husband has never had a knack for personal finance (maybe that’s why he married me, haha), and he just likes having to not deal with the daily financial things. e talk about our finances regularly and I keep him in the loop on our debt repayment and other financial matters.

    [Reply]

    Mrs Money Reply:

    Saving Her Life- It’s funny how many women control their finances. I guess guys just don’t like it?! That’s great you keep him in the loop- I think that’s so important!

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  5. Laura says:

    I handle it in our family. It started when I was unemployeed when we got married and saving was my full time job. He would rather do it and I’ve gladly handed it over when asked for several months at a time. It never takes more than a few months for him to hand it back to me. He says I have a “Knack for it” which means that he doesn’t feel like he can keep up with it I guess.

    [Reply]

    Mrs Money Reply:

    Laura- I like that- “saving was my full time job.” :)

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  6. Me. I handle the finances, both personally and for my husband’s businesses. It takes a lot of my “free” time. I used to enjoy it, but now it mostly feels overwhelming, especially since our credit card debt goes down so slowly. I know, I shouldn’t complain. Thank goodness it’s going down!

    [Reply]

    Mrs Money Reply:

    Mrs. A- I know how overwhelming it can be to have to deal with the finances. It’s not fun. You should make him clean the bathroom in return. ;)

    [Reply]

  7. brite says:

    My husband does it, and I’m really thankful. I handled the finances for a year when he was working 12 hour days, and everything was fine, but it was stressful for me. I do better with the big picture and not the little details. Neither of us are spenders and I have access to everything (passwords, etc.) so it works for us.

    [Reply]

    Mrs Money Reply:

    brite- Awesome! It’s funny- you are the 7th comment and first person that has a man do theirs. :) Interesting. I kind of envy you- I would love to have a man that could handle it well. ;)

    [Reply]

  8. I handle the finances at our house as well. When we first got married, I left most of it to him, as he had some education in business and I was an English major.

    But once we had children and decided that I would stay home with them, it just seemed natural for me to take over. My husband doesn’t have the time or patience for it, and he knows that I’ll keep him up to date regularly.

    [Reply]

    Mrs Money Reply:

    2 Cents- That’s awesome. I agree- I think handling finances and managing the household go hand in hand. :)

    [Reply]

  9. Evan says:

    I’d like to think that I handle it, but it was a battle at first. The Wife was very independent because she had to be and I was annoyingly stubborn. In the end the best thing I did was create a power point explaining what was going on:

    http://www.myjourneytomillions.com/articles/the-wife-and-i-finally-implement-a-plan/

    Once I created that powerpoint things got (and have been for 18 months or so) very easy going!

    [Reply]

    Mrs Money Reply:

    Evan- Women can be stubborn. I am a prime example of that. LOL I love that you created a power point! That is the best.

    [Reply]

  10. Little House says:

    I’m the same way. I handle all of our finances around here, too. I don’t think I’d feel comfortable not being in control of them. I like entering debits and credits into my Quickbooks program, then pulling reports at the end of the month. I can’t really see my husband being that diligent in keeping track of our money. :)

    [Reply]

    Mrs Money Reply:

    Little House- I always wanted a man to do it, and now I don’t know if I could let him. I’m too type A. It works for us. :)

    [Reply]

  11. Being the Virgo that I am, I like to handle our money. For now we still have separate accounts because we’re not married and are doing fine on our own, but once we have a mortgage and other joint bills to pay I’m sure I’ll be the one handling our finances. I just can’t give up that control!

    [Reply]

    Mrs Money Reply:

    Chloe- I’m a Virgo too! I think it’s great that you handle the finances if you enjoy that. :)

    [Reply]

  12. Mrs. Frugal says:

    Ditto. I handle the finances. My husband is good with money but gets overwhelmed with the details. He mocks my beloved spreadsheets but I know secretly he’s so happy that I deal with all of it and he’s proud of the progress we’re making.

    [Reply]

    Mrs Money Reply:

    Mrs. Frugal- That’s awesome. It feels great to see debt go down, doesn’t it?

    [Reply]

  13. BibleDebt says:

    It is great you are interested in your finances and keep a good eye on things! You may already be doing this, but if not make sure your husband at least knows what is going on in that arena. He might be in trouble if he loses you. You also might be able to avoid some arguments about money if you are both on the same page.

    For me, I am like you and handle all of our finances. Although I do drag my wife kicking and screaming to at least keep an eye on them. I would hate for her not to have a clue what is going on if I get hit by a bus.

    Great discussion!

    [Reply]

    Mrs Money Reply:

    Bible Debt- Great point! He would be in trouble if something happened to me. :) We pretty much never fight about money though, and I think we are lucky in that regard. :)

    Thanks!!

    [Reply]

  14. ctreit says:

    I handle our finances, too, which is why I am reading your blog and my wife is not. We have a similar strategy as you do. We check with each other about any bigger purchases.

    I make sure that my wife knows where all the important stuff is. I also show her once in a while how I do certain things like pay bills, transfer money between accounts, etc. It would not be good if I died on her suddenly and she would not know how to get along anymore.

    [Reply]

    Mrs Money Reply:

    ctreit- I think I need to show my hubby how to do everything. Honestly, if something happened to me, I don’t think he’d have any clue about what to do. :/

    [Reply]

  15. The wife handles to the day to day, pays the bills, writes the checks etc. Every month I enter our expenses in a spreadsheet which we review and discuss together. All significant purchases are discussed before taking action. So far its worked great for us!

    [Reply]

    Mrs Money Reply:

    LeanLifeCoach- I like that! It sounds like an awesome plan. Total joint effort!

    [Reply]

  16. I, too, handle the finances — for better or for worse, is what I say! ;) My husband doesn’t even know how to get online to see our accounts…

    (I’m not keeping it a secret; he simply has no desire.)

    It has worked fairly well for us. My husband is active duty military so it really wouldn’t work for it to be the opposite way for us as I need to do it during the times he’s gone anyway.

    I used to complain more about him helping me and being involved. We’re doing better about that, but now I’ve been doing it myself for so long (15+ years) that I’m finding I’m having… er, control issues, you might say. Heh.

    [Reply]

    Mrs Money Reply:

    Jolyn- My hubby is the same way. I should write it down so he knows how to do it if there was an emergency…

    I know what you mean about control issues. ;)

    [Reply]

  17. Sara G says:

    It is a joint effort for us, which started at the beginning of our marriage. We did not have much money, so there was not a point in having separate accounts. We also were not set in our ways yet. I tend to pay more of the bills and my husband focuses more on the big picture stuff, such as out retirement accounts. We balance each other out.

    [Reply]

    Mrs Money Reply:

    Sara G- That’s great! We have a joint account too. Before we were married, we had separate accounts but consolidated when we got married. I like that your hubby does the retirement accounts. I wish mine did! ;)

    [Reply]

  18. H Lee D says:

    I do the grunt work — paying bills, balancing books, etc. — but he’s completely in the loop as to where we are and what’s going on. We will typically talk at least once a month about where we are and where we’re headed, as we started keeping a spreadsheet of all monies in our possession after the bills are paid each month. Trying to bring up that number!

    Since I’ve started reading so many finance blogs, I’ve become much more interested and invested in where money is coming and going, so most of the time, when we change something up, it’s at my suggestion.

    [Reply]

    Mrs Money Reply:

    H Lee D- That’s awesome! I have a budget on the computer that is in red before I pay the bill, and then I change it to green when I pay it. :)

    I think that’s awesome you are open to changing your habits. I definitely think it helps!

    [Reply]

  19. Dana says:

    We handle our finances together..been that way since the day we were married. We have a joint account – none of that “his” versus “hers” stuff. We also have a $100 rule…neither one of us spends over 100 bucks on something without discussing it with the other first. Works great for us!

    [Reply]

    Mrs Money Reply:

    Dana- That’s great! We have a joint account too. Before we make any major purchases, we discuss it. Works for us!

    [Reply]

  20. Julie says:

    I head up our home’s financial department. I think I sort of fell into the job originally, as my husband (then fiance) moved in with me and wanted to be added to my checking account since his bank was not in the area. I was a little bit nervous, so I wanted to maintain control over what was originally my solo account. Fortunately, I had nothing to worry about, but I think I just got into the habit of handling that stuff and never looked back. Plus, I really find enjoyment in watching our debts lower, savings accrue, and working out how to pay things off early/get better interest/save more. My husband is fine with not doing all the research and just having a discussion with me come decision-making time.

    Although there have been times when I’ve wanted him to take over, I think I’m perfectly fine handling it solo now. But I agree with other posters — it’s important to make sure he knows what’s going on and how to access our accounts if, God forbid, something were to happen to me.

    It’s funny to see how many women are the financial wizards in their households, especially considering this was traditionally the man’s role. Hooray for progress! :-)

    [Reply]

    Mrs Money Reply:

    Julie- I agree! I was shocked at the amount of women that are in charge of the finances! It was really interesting. I like being in control too. I just like to know where the money is going and how much we have at any certain point. :)

    [Reply]

  21. james says:

    i handle all the finances, but that’s because I’m single. single or not i am sure i will have a huge part of our finances if and when i find that special someone. I’ve been close to that special someone a few times and a few times money issues came into play. i have old school values and like to pay everything off. some people are not like that, but i am a huge advocate of “team” and think it is important for both parties to have a say and show know what and how much bills are…

    [Reply]

    Mrs Money Reply:

    james- That’s great! I think a man in charge of the finances is sexy ;) I like your old school values- I think a lot of people would benefit from that. I think you’ve got a great financial future!

    [Reply]

  22. Kait Palmer says:

    My hubby and I both work full-time, but I definitely handle everything when it comes to money. I use Quicken at home and every Friday I allocate that week’s paycheck out to different things like tithe, rent, food, auto, etc. Then during the week that’s the money we have to use for that particular item, or we have to take it from some other category.

    Its similar to the Dave Ramsey envelope system but all on Quicken. And we recently started using our credit card for everything to rack up points, but at the end of every day I go and pay off each charge. When I pull it all into Quicken I just manually enter the category and the store so I can see how we spend our moolah.

    Doing that we were able to save up our emergency savings in a month, and now we’re working on paying off the last of our debt!

    [Reply]

    Mrs Money Reply:

    Kait Palmer-I like that you break each paycheck down. I should try that. I do the same thing with the credit card charges- it’s awesome!

    That’s great! You guys are on the road to financial freedom!

    [Reply]


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