How much for married couple that both work, should contribute for the family finance? 50% or 100% of income?

Answer 1

My husband and I both work and we put all of our money into a joint account and write bills from that..then if there's any left over we do something together with it. We usually keep a little pocket money for sodas and stuff furing the week. It's worked so far.

Answer 2

In most states I think all income is joint income. That should mean all in a joint account, pay the bills, save a percentage, and the extra is split 50/50. When people divorce they're treated like that was how it was. The reality is often different, I believe.

I think that if you can't do it the above way and be happy, you should each pay your proportional share of the bills. If one person makes $80K, and the other $20K, then the $80K person pays 80% of the bills and the other pays 20%. Any leftover is your own. When you have kids and someone starts staying home, putting their earnings and career advancement on hold, it gets difficult to then judge. Most stay at home parents would bristle at having their contribution boiled down into dollars and cents, and rightfully so. And yet, they shouldn't be shortchanged, they should have some money of their own. Maybe they'll need it. It's a lot of trust to place in someone to have them support you. Sometimes that trust goes sour.

Answer 3

You know, it really depends. Different couples have different styles. Also, it depends on whether each person makes a similar amount and how much the household expenses are.

In some cases, when the couples make a really different amounts - say, one person makes 100,000 and the other person makes 18,000 - it might make sense to pool all of the money together, subtract household and investment/retirement expenses, and give each person an "allowance" that's the same amount.

If the couples make about the same amount, they can simply contribute the same amount to the family account.

Regardless of the situation, some things that seem to work well are:
- having a joint account that household expenses are paid out of, and not spending over some pre-agreed amount of that unless both parties agree.
- each person having an "allowance" for things like clothes, hobbies, and personal expenses that they don't have to account to the other person for.
- withdrawing money for investments like retirement and education plans BEFORE it goes into the joint account and is danger of getting spent.

Answer 4

We both contribute 100% of finances towards our "Family". I make double what my hubby does, so we have the "Peoples Money". We have a joint checking/savings account and as a team we pay our bills online. We share whats left between ourselves (lunch at work, gas in cars) We use any extra to treat ourselves to an adult dinner, movie and pay the babysitter.

Answer 5

It should be 50-50 . that way both are doing their part as equal. but if one makes more $$$ then the other then the one who makes more should take It into consideration and pay out a little more, both need extra $$ for their own personal things as well. having one left with no $$ is not fair.

Answer 6

100% that is if both do agree its only fair this way both will have some extra spending money or open up an a savings account 4 a rainy day or 4 emergence's lord knows we all have those from time 2 time.

Answer 7

this is a sticky question. are you 2 combining your income? do you both have separate accounts? I say 100% goes to your "family." then you both work on how much each get to spend for personal things you want, like motorcycles, boats, dresses, shoes. you know, stuff that isn't absolutely necessary. Just stay out of debt, whatever you do. DEBT will kill a marriage, for sure.

Answer 8

All money should go into one account. When you are married there is no yours and hers there is only OURS. anything else is a sick relationship that shows you love money more than the spouse.

Answer 9

just take care of the bills you need too and split the rest but what you do with your end is on you spend it or save it

Answer 10

50%.That way no one can say I do more or you do less.