should i be aware of how much money me and my husband have?

Question

i have been married one year almost. we have a 6 year old and 9 week old. i have no idea how much money we have. my husband onws his own business. he has a business account and personal checking account. my name is not on either of them. i have to ask for money. i can't just put gas in the car, buy groceries unless he leaves money or is with me. i am a stay at home mom now, so i dont have a paycheck like before. i had my own bank account and paid my own bills with that. i need some advice.

Answer 1

if like to spend money youd better

Answer 2

It certainly does not make any sense to not have your name on the checking account. What if he was in an accident.... how would you access money to live on if he was hospitalized for several days? There are other instances where you might need emergency money. This leaves you and your children in a very vulnerable situation. Is your husband old fashioned, or does he not trust you to be wise about spending? The two of you need to sit down and have a talk about this. This most definitely is not typical of most marriages . There should be a very logical explanation why he would not want his wife on the checking account. Does he realize that you will have no credit history , and that could be a serious issue in your future.

Answer 3

I almost passed out when I read this question. A marriage is a partnership. You should have access to the checking account so that you can buy gas or whatever on your own. If he's worried about spending, maybe you both should sit down and work out a budget, so that you know how much you have to work with. You are not a slave, you are a wife. You're working too, you just don't get a paycheck for it.

Answer 4

What if he went out tomorrow and got hit by a car and died? You need to know what is going on with the family finances, and to have your name on bank accounts and business documents so you can handle things if an emergency comes up. The last thing you would need to be worrying about is money or losing the business in a case like that.

Answer 5

It sounds like this isnt working for you-Talk to him about it. I don't work but i have access to all our our money whenever i want it or need it. My husband doesnt ask me questions and that works for us. I wouldnt be okay with having to ask. Does he tell you NO? or you just have to let him know you need it? maybe sit down together and have a talk about it if it bothers you..nothing will change otherwise. Maybe you two can come to a compromise and budget out to where you have money for the month without asking him but he knows how much you have and where is going for the most part. If you two ever split the situation you have would make it difficult for you so think about that.Were you ever irresponsible with money is what i am wondering.

Answer 6

This is a terrible set up. You need to be an equal partner and know exactly how much money is coming in and going out. Tell your husband that you need to draw up a budget together. That way you can learn what you need to know. He sounds like a controlling person. Legally half of what he has is yours, but if an emergency arose, you would need access to the accounts. Insist on it.

Answer 7

This situation is unacceptable. You should speak to your husband about wanting to know the financial position of your marital assets and that you would like to be set up with your own personal checking account (if he refuses to open a joint one) with a regular allowance. You can always ask to see the tax returns from last year. Since you probably filed jointly, even if he refuses, you can get a copy yourself from the IRS. You are entitled to be treated as if your labor is worth something. Also, you do not want your children to grow up thinking that it is acceptable for grown women to be treated like children.

Answer 8

Yes! You should be on the accounts, have access to the money and be able to do the things you need to do without having to ask.

Sit down and talk with your husband and tell him how you feel. It is important that you have access to the household funds as well as him.

Answer 9

You should definitely be aware of how much money you both have. You should also have your name on things!! The most obvious reason would be if something were to happen to your husband...you need to know what's going on so you and the kids won't find yourselves out on the street or in some huge tax mess.

I would talk to your husband abou it. If he's reluctant...you may want to ask yourself "why!" There may be underlying reasons why he's not sharing this information with you.

Answer 10

I did the same thing until my husband decided not to pay a few of my bills. The creditors started calling and it got really messy. I would surely try to setup my own account and have money transfered into it on a regular basis, or at least have my name on everything his name is on. :) Protect yourself now so you won't be vulnerable later.

Answer 11

yes you should, you are the mother of those kids and need to know that your children are secure. You better have that discussion with your husband, and just let him know that you want to know. I would also suggest to ask your husband to put some money into your account just in case of emergency, you need to have that!