Model for managing family finances part 2
When you choose to marry, it means you must find an appropriate model to handle financial issues. Most of the time challenges that come to my desk as an investigator is couples are complaining about their cheating spouses. You must establish a way of managing your family finances depending on the stage of life you got married to each other.
Do you combine 100% of your finances? Do you jointly manage 50%? Does each spouse manage their own finances, or the man provides for the family? Which one?
Model 2: Joint account with 50%50% stake
Wife and husband agree to contribute 50% of their monthly incomes regardless of the amount they are earning. This requires total transparency. Your partner is able to look at your payroll and 50% of your money goes to the joint account. Only from that account you can do joint investments for your family.
The remaining 50% is available to the couple to use the way they deem to spend. You can help relatives, travel for leisure without accountability to your partner, etc.
Once you do that, you will achieve success in ways you never thought existed. You will have streamlined your family life together. This brings a lot of cohesion to the family. The catch is, once you adopt a model, stick to it.