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managing household financial matters

Discussion in 'Married Life' started by ashwini999, Jul 14, 2008.

  1. ashwini999

    ashwini999 Senior IL'ite

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    hi

    does any of your husbands give you the entire finance managing duties to you. we are recently married, and my husband had told me that he wants me to take the full financial responsibility of the home,thanks god for giving such a husband, but now i really need advice to maintain it to his expectations...so please suggest your tips.

    also is it advisable to take the full financial responsility at the intital stage of married life. am living in US and not working....housewife
     
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  2. Saahithya

    Saahithya Silver IL'ite

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    ashwini

    First of all congratulations on your wedding.wishing you both a very happy married life. Looks like you got gem of a husband....really no one would give that kind of freedom or lineance to their wives. am glad you are very lucky...

    Reg. the budget planning what I would suggest from my pointof view is...first of all list down what are the monthlye xpenses you have..for that there is this budget planner i am using..see it at the below link..

    http://www.indusladies.com/forums/money-matters/16761-download-this-budget-planner.html

    then sit with your husband and show him how much youa re spending monthly and on what and what are your joint goals for savings / any future thoughts of buying a home / saving for kids / any india trips etc...just like the way he had given you the opportunity to take the decisions, it would be great if you could also involve him and keep both of your interests in consideration when planning the monthly budget. try to look at yahoo or msn sites under money section about various investments . try this site...www.bankrate.com...incase if you are itnerested to open any fixed deposits or CDs in US it shows the current interest rates...if you are planning to buy a home in US it would show how much money you need and how much to save etc.

    above all first you sit with your husband see how much you are eearning monthly, and how much you are spending..what are each others goalsand expectations in life andhow to acheive them....and plan for them...like short term and long term goals....

    good luck...and am happy to see such ladies posting that their husband gives them complete freedom to decide about the money which he is earning...
     
  3. roopadadia

    roopadadia Silver IL'ite

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    Dear Ashwini,

    Congratulations on your wedding and great to know that you have a great partner.

    Finance management is an important aspect and as Sahitya says talk to your husband too about it.

    But you can also do some ground work before going to him i.e The incomings first.

    Outgoings:

    Monthly household exp.
    Rent
    Insurance
    loans if any

    Savings
    Medical
    Holidays
    Trip to india
    Entertainment

    Take all the broad heads that you can think of and start jotting down numbers if you already have or think of what percentage of your income you can allot for those heads.

    All the best.
     
  4. Serenity_John

    Serenity_John Bronze IL'ite

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    Hi,

    all the ladies gave excellent advices already. But I also suggest you maintain a book (along w/excel) so that if for any reason the computer crashes or something, your financial info isn't erased.

    Also, any bank accts or user ids and passwords, etc--I also suggest you put them in that book so that if in any unfortunate reason like death of one of u, the other has the info definitely.

    Good luck! and Congrats again! :D

    Sere
     

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