Who’s Managing Your Family Finances?

Do you have a head penny counter in your household? 

After writing about our early family finance habits, I was curious to see if I could find any videos on the topic. I found an interesting video from CNNmoney.com on  Who’s managing your family finances? 

He discusses a recent study that shows how couples thrive better if the person who is the best at numbers takes the lead on finances – not just the person who takes charge or gets stuck with the finances. It only really makes sense, but relationships, especially with money, aren’t always rational.

They give a quick quiz, and I was relieved to pass. Hubby has always thought that I was more numerate that him, although I think we’re about equal and somewhere in geometry he became less confident. But I can’t claim that we made an intentional decision for me to lead the management because of math skills, and it probably had more to do with us not wanting a traditional arrangement where the person who earns more makes the decisions.

Do you think the most “numerate” spouse handles your finances?

Sustainable Family Finances 
The story of a family creating an abundant and sustainable life.

2 thoughts on “Who’s Managing Your Family Finances?

  1. Anonymous

    I am CFO of household finances, or Chancellor of the Exchequer, pick your title. I definitely am the better with math, but also the better with planning and long-term vision and responsibility (not to denegrate my husband though).

    We’re generally okay with this. However, I want him to know what are finances are, how bills are paid, where we have investments, account numbers/passwords, etc. I could come down with a debilitating illness; I could get hit by the proverbial bus. Inspired by you, I am planning a “money honey” date soon to go over this kind of stuff. I believe this falls under the “long-term/responsibility” aspect of the CFO role.

    Also, we’ll be going over a few months of credit card bills. We charge most everything to earn miles. The past three months, however, there has been a slow creep up. We’ve needed to dip into saving here and there mainly for good things (home repair/ remodeling, car repair). We need to get a handle on this since we are at one income and want to stay this way for a few more years.

    Thanks for your posts! I always enjoy them.

    FYI, I took a “seedstarting” class at Living scape last week and am taking a Vegetables 101 on 3/19. The classes are free. Care to join and maybe do a blog on what you learn about food at home?



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