Well you probably should if you have a casino addiction. If you are always going to the casino and spending your hard earned money on gambling then you have a problem. Of course there are pros and cons to letting your wife control your money. That is what this article is about. But if you are serious about your health, then you should definitively take a look at giving your money to your significant other to use.
Depending on the guy, letting your wife take control of the money is either an everyday fact of life or a husband’s worst nightmare. Either way, finance is one of the greatest causes of stress in a marriage.
Regardless of the strain, a couple needs to be able talk openly about their financial status and work together to build a happy, healthy matrimony. If neither you nor your wife are particularly fiscally inclined, then there are a number of factors you should weigh when making this important decision. Let’s look at the benefits and detriments of your wife taking the reigns over the pocketbook.
If you are able to make enough money and your wife chooses to stay at home, then you simply may not have the time or inclination to fuss over the family expenses. This can give your wife a greater sense of satisfaction and control in the relationship.
Especially if there are children involved, a stay-at-home mom can better handle the day-to-day record keeping. This allows the husband to focus solely on bringing money into the family and improving in his career field. It also helps build trust between the two partners. If a husband knows his salary will be allocated fairly and responsibly, then that assurance will bolster the relationship in other areas. Bringing home the paychecks and having your wife handle the record keeping for the family can turn two individuals into a remarkable team.
Interestingly, recent data suggests that women are not as adept as men in making wise financial decisions for the future. According to a study from Prudential Financial, women as a whole have low marks on making long-term financial decisions.
This is what is known as the “female financial paradox”; women as skilled at making smart day-to-day decisions when it comes to money, but when it comes to planning for retirement or other long-term goals, they tend to make poor choices. Many believe this is due to centuries of restrictive social norms and women’s exclusion from major fiscal decisions in many households. The study also showed that women, in general, tend to be more timid and insecure about investment decisions. As unfortunate as this situation is, it is something to consider when decided who controls the purse strings in the marriage.
Of course, the best way to handle finances is as a team as opposed to an individual making the decisions for both partners. Daily expenses and long-term investment decisions should be handled as a pair as opposed to competing individuals.
Money is an important side of a relationship; while it can be a considerable source of stress, it can also be a great team-building exercise for husband and wife. Whether both partners are working or one stays at home, tackling financial issues together can bring a marriage together.
As with other aspects of a relationship, if a man and women are on equal footing in terms of money, then they have a greater chance of making it happily ever after.