Who is the Chief Financial Officer

Hi All

Am curious who runs the household in your relationship/family with regards to financial decisions, managing the budget, paying the bills etc ??

I know some couples that have separate bank accounts, not a crime, but I do find this odd. I would think it makes sense to combine/pool funds. Perhaps this is becoming the norm these days, don't know??

I'm one of those with separate accounts
For investment, I'm the CFO and CEO as all investment capital comes from me
He's the Chief Risk Officer who will stop me on track and ask questions

General house stuff, we pay half half I usually pay the bills and he send me half, he's also COO and house cleaner, I'm the cook
For individuals stuff, we're CFO of our own account.
 
We also have separate accounts, always had. For investments I'm the CFO/CEO as he's just not interested. And we look after our own bank accounts. Bills get paid by whoever first remembers that it's due. We don't hide accounts from each other but have never seen the need to have joint accounts. We're married, not joined at the hip :p
 
Im the man of the house... when she is not at home. And I do what ever I want (with her permission).

:D

No seriously. Im the head of the household. She is more like the neck. The head doesn't make move without the direct control of the neck.
:p:eek:

Blacky
 
We also have separate accounts, always had. For investments I'm the CFO/CEO as he's just not interested. And we look after our own bank accounts. Bills get paid by whoever first remembers that it's due. We don't hide accounts from each other but have never seen the need to have joint accounts. We're married, not joined at the hip :p

Come on Vulture, this is how it should be....
What's mine is mine and what's yours is mine", works well for me:p
 
Come on Vulture, this is how it should be....
What's mine is mine and what's yours is mine", works well for me:p

Haha well in practice that's pretty close to what actually happens anyway! Him having a separate account in no way prevents me getting my hands on the $ lol
 
It spins me out that there are people that give up control of their money entirely to their spouse. I couldn't ever do that, I'd want to have control over what is mine. It's almost like being at home with mummy and daddy.

In the same vein, I'd want my woman to have at least a working knowledge of our investments. My ex-gf and I were looking to invest together and she had zero interest in any of it, but I pushed her to take at least a little bit of interest, because of the 'What if?' scenario.
 
give with one hand, take back with the other :D

Mr Of The Vultures: Hey, what's this expense for 3 pairs of shoes? I thought we agreed that we wouldn't buy any 'wants' without consulting the other person.

Of The Vultures: Those aren't a want, I need them to match the outfits I bought last week.
 
Me. I prefer to budget and plan. She's happy to play along and relieve herself of the responsibility, but she likes to understand it all.
 
Mr Of The Vultures: Hey, what's this expense for 3 pairs of shoes? I thought we agreed that we wouldn't buy any 'wants' without consulting the other person.

Of The Vultures: Those aren't a want, I need them to match the outfits I bought last week.

Nope. I only buy hiking shoes (on sale), and they don't need to match anything :p

Luckily neither of us is much into consumerism so the conversation goes more along the lines of (me to him) "how much money do you have stashed away in your account, I need it for a house deposit" ;)
 
In reality the management of our finances keep changing.

We keep separate accounts, in separate countries, in separate currencies. I think we are up to about 5 different currencies atm.

We try to share household expenses equally, but in reality one of us is probably slightly more 'equal' than the other :D
It also depends on who has money in the right currency or the right account at the time.

For investments, I have control of mine, she has control of hers. Though if for some reason one of us is short, we transfer money between as required.

Blacky
 
It spins me out that there are people that give up control of their money entirely to their spouse. I couldn't ever do that, I'd want to have control over what is mine. It's almost like being at home with mummy and daddy.

In the same vein, I'd want my woman to have at least a working knowledge of our investments. My ex-gf and I were looking to invest together and she had zero interest in any of it, but I pushed her to take at least a little bit of interest, because of the 'What if?' scenario.

Interesting, perhaps its a generation thing?? we got married and we become ONE, how sweet:p joint accounts

Seriously though, if you had a control freak partner it would be a firkin nightmare to have joint accounts.

In my case we both just take from various accounts, no questions asked unless of course there is no money in the account, but then again this issue is easily resolved, just move onto the credit cards
 
We pay what each can afford, which for now means my partner pays for the food, and I pay for everything else.

Also have my best friend who is FIFO so he pays 25% of all bills, buys all dog food (since his dog stays at mine) and rents a room off me.

That said, once my partner finishes her training and her masters (one in the same) it will be a case of putting my wage on the mortgage and living off hers.
 
Interesting, perhaps its a generation thing??

Maybe? In my situation, it got a bit messy (but not horrible) towards the end and I'd prefer in future to keep it as clean as possible if things were to go pear shaped. Risk mitigation, more than anything.
 
Seriously though, if you had a control freak partner it would be a firkin nightmare to have joint accounts.

Yes, but would you ever marry a control freak? I know I wouldn't! For us, it just makes sense to utilise each persons strengths. Mine is finance, his isn't.
 
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