RuthAlarcon
New Member
Does it really have to be the wife? Or it doesn't matter?
Who handles your budget?
- Thread starter RuthAlarcon
- Start date
HoneyLicious
Member
I think it differs for every couples. Some do budgeting together, some husbands do it or wifes. Also depend on what budget, but i know most people do budget for family and home expenditure together and personal expenditure they budget themselves.
we dun really have a budget, cos we r not big spender. But all our funds are combined and we planned our finances based on the benefit of the whole family. For eg, I paid most of the housing loan using my CPF tho I am not working cos my husband w be 55 yo in less than 10 yrs time and we w like to free up most of his CPF for retirement purpose.
In addition, when we buy endowment policies, we put it under either his or my name depending on the benefits. For eg, my health not so good, so for those endowment that need medical underwriting, usually all goes under his name.
As for those that no need medical underwriting, my name wd be use.
As for bank balances, most of our accounts are joined name, esp his salary account. Every now and then, I would check which bank got better rates and I would do the transfer to consolidate funds so as to get better interest rates.
As for investment, usually I am the one who do the understudy (cos I used to be auditor ) but when final decision, I w just double check w him.
So far it works quite ok w us.
In addition, when we buy endowment policies, we put it under either his or my name depending on the benefits. For eg, my health not so good, so for those endowment that need medical underwriting, usually all goes under his name.
As for those that no need medical underwriting, my name wd be use.
As for bank balances, most of our accounts are joined name, esp his salary account. Every now and then, I would check which bank got better rates and I would do the transfer to consolidate funds so as to get better interest rates.
As for investment, usually I am the one who do the understudy (cos I used to be auditor ) but when final decision, I w just double check w him.
So far it works quite ok w us.
RuthAlarcon
New Member
In my case, with all honesty, budgeting is my Waterloo. UGH! I gave it a few attempts, and there wasn't any success, not even once. I confess, I'm an overspender! I'm imprudent in handling money. But, In all fairness to me, I think I did my best to stick with the allotted budget. But still, I did overspend! 
( So, in managing our finances, I leave it to my better half. He would sometimes ask me for some ideas, and I'd share mine. I think that's all I'm good at. Haha! )
( So, in managing our finances, I leave it to my better half. He would sometimes ask me for some ideas, and I'd share mine. I think that's all I'm good at. Haha! )
KiBin
Member
i think each person should have their own $$ to spend so that they can buy their favorite stuff.. e.g. new phone for hubby and new LV bag for mummy...
of course $$ should also be allocated for baby and common spending and the person who can handle $$ better should handle but discuss with the other half if $$ from this pool needs to be used... especially if the amount is large...
of course $$ should also be allocated for baby and common spending and the person who can handle $$ better should handle but discuss with the other half if $$ from this pool needs to be used... especially if the amount is large...