Who Should Be In Charge Of Family Finances?

There are so just so many arguments about how women are more detail-oriented and how men are better risk takers than women; women are better at reading maps and giving directions, and how men don’t like to take advice or ask for directions.

However, when it comes to the well-being of a family, and where finances are concerned, both partners are equally responsible for the financial health of the family. For any relationship to be successful, both partners must mold their individual characters into a workable and positive relationship.

Whatever the source of the family’s income, whether it is the man who is the breadwinner, or the woman, or both equally, family finances are a shared responsibility. Both partners must work together as a team.

In a functioning relationship, both partners have to share the tasks – paying the bills, making investments for the family, planning a budget, deciding what monies are to be spent and how, what monies go into savings, life insurance or RSP’s. If it is decided that one of the partners is responsible for all things financial, it is still essential for all matters to be mutually discussed and agreed upon.

Remaining on the same page is vital. They say that finances are one of the primary things that a couple will fight about. Well, if you are able to keep them straightened out, chances are you will be successful in other aspects of your relationship as well.