Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 01-12-2013, 06:54 AM   #61
Recycles dryer sheets
Jager's Avatar
Join Date: Jul 2012
Posts: 103
My wife, bless her, is lousy with money. She has never saved a dime in her life. She spends based upon perceived need/utility rather than what funds are available. So for the 32 years we've been married, I've handled the majority of the finances - most the bills, savings, and investments.

There is no question that were we to divorce, there would be no distinction between "her money, my money." But it's also true that our informal division of financial responsibility - you use your money for these things, I'll handle everything else - has very effectively served to limit the financial liabilities she has wrought. "Your money, my money" marital divides are certainly not a panacea (my wife could easily have overspent her bucket, for instance, incurring debt we'd both be responsible for), but they can very often help when couples are not of a like mind on saving/spending philosophy.

Jager is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-12-2013, 01:47 PM   #62
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2006
Posts: 9,699
Originally Posted by haha View Post
His hers ours accounts may have some helpful psychological effect, but they are a fiction. Like the lady says above, they are married! What is his is hers, what is hers is his.
Even multimillionaires have this problem. Even a postnup didn't preclude this ex from getting $2.1 million a year.

Record-breaking divorce ruling against Maple Leafs Foods president: eBay Café: Community

Meadbh is offline   Reply With Quote
Old 01-12-2013, 01:59 PM   #63
Recycles dryer sheets
Join Date: Oct 2010
Posts: 359
Yes, pre-nups and post-nups are regularly tossed by courts or ignored by judges. We did a pre-nup (second marriage) to protect my assets from his ex-wife (on behalf of his daughters if my hub should die).....and even then the attorney said it was more helpful as guidance to a judge (who may wonder what my husband's intentions were about my property) than a legal document restricting them from his daughters.

My dad had a pre-nup on second marriage, judge tossed it, saying he felt they had been married long enough that it shouldn't be in force and he had to split his pension with his second wife, even though it was from a job he had well before he married her.

You all put too much stock in legal agreements when it comes to family courts.
BellBarbara is offline   Reply With Quote
Old 01-12-2013, 03:09 PM   #64
Thinks s/he gets paid by the post
Join Date: Jun 2007
Posts: 2,385
I don't believe my husband's money is mine. Instead, we believe that our money is ours. It's a bit of a distinction from the "whats yours is mine" mindset. Meaning every dollar is owned jointly, and all spending decisions are subject to joint review. We're both accountable for making and sticking to our budget. We have extra money in savings, it doesn't mean I get to hit the mall.

If I want to purchase something outside the budget, I ask. So does he. We both own every dollar, together.

To each their own, but I like the way we do it.
I like this way too. Heavy on the joint agreement part. I think this is where the system breaks down for many. If they cannot get agreement, then they do it their way anyway.

growing_older is offline   Reply With Quote

annuity, saver, spender

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


All times are GMT -6. The time now is 01:14 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.