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How do you budget as a couple? (self.personalfinance)

submitted 1 week ago by heydamianc to c/[email protected]

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I'm curious how you budget as a couple or budget with family. Does one person take the lead and it's their duty? Are you equal participants? Does each person leverage their strengths?

What works for you?

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[–] [email protected] 9 points 1 week ago (2 children)

I take the lead given my two finance degrees and interest. I go through our budget with my spouse and they sign off or propose changes every December. I pay bills. I compete our taxes.

Our money has been communal since before we married. We have each supported the other financially as we obtained further education. We discuss larger spends and otherwise buy little relative to most in this country. One of our shared values is that our money is for security and to invest to break free of working.

[–] heydamianc 1 points 1 week ago (1 children)

Since you're more knowledgeable, does your partner try to cat h up. Or are they more hands off and just trust your decisions?

Or rooms are reversed where my wife is more knowledgeable, but it's a regular discussion for us. And with the regularity, I'm catching up.

[–] [email protected] 1 points 2 days ago

My spouse doesn't really care and trusts me. We've been together for almost two decades, and they know I'm a meticulous cheapskate who has never missed a payment.

I track our net worth monthly and update them at that point, but have to force the issue. I'm their financial advisor/family office in their eyes.