I am going to change the way our finances are set up for our family, and wondered if you would share what model works for you. Currently I make all the income, and support a non-working spouse -not that he couldn't, he just won't. I no longer wish to be his "sugar-mommie"! I want to have a model that separates my income and share of the expenses and force him to contribute. How does your financial model work? I need some options!!
2006-08-10 08:56:32 · 3 answers · asked by Irishgal 2 in Business & Finance ➔ Personal Finance
Short of divorcing him, there is really no way to force him to take care of himself. You can close out any joint credit card or bank accounts, get cards and accounts in only your name. Long term, this is only going to create more problems, as I'm sure he won't be pleased that he has been "cut off." He won't be magically motivated to go out and get a job. He will most likely be angry with you for no longer funding his life. Your best bet is to begin by discussing your finances together or in an situation mediated by a neutral third party (no fair dragging in an innocent family member or close friend.) You might be able to work together in setting goals to return you to a two income family.
A plan you can try is to have a joint checking account for bills that benefit both of you, such as housing, groceries, and utilities. Each person should have a fair amount apportioned from his or her income to this account for these bills. Any amount beyond your share of the basic expenses can go into an account desginated to each of you, which can be spent on anything you desire. Get credit cards in each name with no authorized access to the other's account. Do keep separate accounts for retirement.
Keep in mind that there is more at stake here than just budgeting if you really want your relationship to continue. I don't like making excuses, but your significant other probably has reasons other than laziness why he isn't working. There is probably also much more to your frustration than just him not contributing money. Try to work out these issues, instead of just a quick fix to the finances
2006-08-10 10:33:59 · answer #1 · answered by Freddie 3 · 0⤊ 0⤋
Check out the Total Money Makeover by Dave Ramsey
2006-08-10 09:02:08 · answer #2 · answered by isellpc 3 · 0⤊ 0⤋
Money Management 101
By: Jeff Lakie
In our family we talk about everything...its a big help.
This article will help also!
2006-08-10 09:05:21 · answer #3 · answered by Anonymous · 0⤊ 0⤋