I tried not to poke into my co-workers personal life but I do get the feeling many of them dont really trust their spouse with the finance. Some tend to hide money by way of seperate account or just plain hiding.
is this a common things in the US? don't trust their spouse with their money. Personally I pay everything for the operation of the household. My wife keep her own money but when i do needed it. she got no problem to "share" . she does things for her family eventhough i know but i just dont say anything.
keep the peace and try to avoid sleeping on the couch...
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I think trust with money as well as many other things... ... is essential.
(I don't think trouble with finances is the only thing that ends marriages...)
Anyway, luckily I do trust DW, so we are very open (AFAIK) with the money and
have joint accounts, etc.
Of course, there are at least 2 potential issues with the joint method:
1. Identity theft. Though probably rare, a SSN stolen could wreak havoc on both credit scores.
2. Spousal insanity and/or divorce where each tries to "one up" the other by buying needless stuff.
Oh wait, #2 could happen regardless of joint account status.
Then there are prenups.
But I think in general, most marriages are trusting.
Re: Secret Money. Do you hide money from your spouse?
i somewhat disagree with you. personally i know many couple stay married for many many year even without completely trust their spouse. they might not completely happy but they do stay together. trusting about finance alone sometime don't really kill the marriage. many people feels either put up with it or live alone. For some, stay together is better.
Re: Secret Money. Do you hide money from your spouse?
i somewhat disagree with you. personally i know many couple stay married for many many year even without completely trust their spouse. they might not completely happy but they do stay together. trusting about finance alone sometime don't really kill the marriage. many people feels either put up with it or live alone. For some, stay together is better.
I would personally be miserable in that situation.
But I respect your point.
Re: Secret Money. Do you hide money from your spouse?
lazy, ex-jar and sg who would have thought that a topic about trusting your spouse with money would have elicited responses that had me laughing out loud at 5:45 in the morning (or is it just my second cup of coffee)
I trust my wife with every penny we have (she has most of 'em and promises to tell me where they are when I need to know)
Re: Secret Money. Do you hide money from your spouse?
I don't hide money from my spouse, he knows everything about the finances he just chooses to let me handle it. I'd trust him with the money if he felt he wanted to get more involved because everything we do is a joint decision.
But there is a man I work with that has a secret bank account, the statement comes to the office and my assistant opened it by mistake. He admitted to me it was something his wife didn't know about, I just shook my head and asked him to make sure I was sent an invitation to the divorce party.
__________________ Dogs aren't our whole lives, but they make our lives whole. - Roger Caras
Re: Secret Money. Do you hide money from your spouse?
No financial secrets here. My problem is getting DW to take enough interest in our finances to know what's where in case something happens to me. That's why I keep an an updated "In Case of My Death or Incapacitation" instruction letter for her.
I suspect a lot of spouses do hide money from each other. At my old job, one very big complaint we got was not allowing the option of getting annual bonus payments via check rather than direct deposit......
__________________ Numbers is hard...
90% of building a retirement nest egg is just showing up. The other 10% is half the battle.
Re: Secret Money. Do you hide money from your spouse?
No financial secrets here.* My problem is getting DW to take enough interest in our finances to know what's where in case something happens to me.* That's why I keep an an updated "In Case of My Death or Incapacitation" instruction letter for her.
I've always suspected that DW has her own instruction letter
which covers what she would do upon my "Death or Incapacitation."
Not sure. I sometimes wish I had a "taster" though.
JG
Re: Secret Money. Do you hide money from your spouse?
JG, four posts in a row before. No wonder your post count is so high!
I hide my spouse from my money.
Seriously, I have the same problem as a few others here - spouse doesn't take much interest in where all the different funds and accounts are. Luckily we're still young, so there aren't too many pots-o-money (and none of them are too full ). I need to write a "in the event I'm not around" letter. As it is now, I told her where the directory is on the computer that containts all of our financial spreadsheets - mainly the net worth balance sheet (lists all account names, not numbers though).
I don't really have a reason to hide money from her. I trust her, and she trusts me. Trust is key.
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