Married folks - How do handle income disparity in a household? We have an income gap of 3x-4x and trying to figure out how to handle finances. Typical conflicts - what are essential expenditures vs a convenience - what are acceptable brands and quality We tried a couple of options such as % based split but that leads to above conflicts. Things that I find essential to maintain and improve quality of life, my partner thinks “not required” and “waste of money” If I buy something on my own, he/ she thinks I am not involving her/ him and invokes “left out” feeling.
threaten to divorce till they submit to your wishes.
Agree to have a common budget and keep a certain amount for personal discretionary spending. % base never works when there s a huge discrepancy.
Depends on if they’ve sacrificed for you career. Either way I’d recommend just giving them half and letting them be. Giving can feel great.
It’s not for everyone but I just throw all our money in one account. I set up a budget and include the goals we are achieving so we are saving the right amount and not just for the sake of hoarding. We review what we’ve gone over budget at the end of the year and figure if it makes sense or we need to change our general lifestyle. We’ve had a few kids and bought a house so that’s had to change budgets from eating out to groceries to getting occasional house cleaning to even getting nicer products for the safety of our children - can’t always get everything from the bargain bin :)
At that point since you're married just let your spouse do whatever they want. It'll be best if they spend this time investing in themselves to improve their earning potential, well being, chase their hobbies and passions. They'll love you more for it too. If they want to contribute have them start a business that can generate positive cash flow of a couple thousand a month with little maintenance effort
Communication and compromise. We keep a budget and talk about it weekly. I'm a saver and she's a spender, what helped us was that we agreed on a set amount that she can spend for whatever she wants (new clothes, massages, anything). Also helped communicating and discussing our mid term goals of traveling and creating passive income and what we need to be saving
When I see this kind of topics I think there's something wrong with me. I make little, she makes nothing. She pays her own personal expenses like phone, car insurance from her savings, I pay everything else and I'd be willing to pay her expenses too as long as I afford. If I were to live alone I would only spend a few hundred less, so what's the point of doing accounting in a couple ? I find it pathetic especially since a lot of you guys make hundreds of thousands. It definitely helps that we're both from poor countries so we're careful with expenses and don't have any appetite for expensive things.
That’s what I want to do but that leads to “I am taking care of the other” and somehow the other person feels bad.
The person earning more should pay more - that works best in live-in relationships or marriages.
We share everything. We have a personal capital account we both log in to. Complete transparency. It really helps that we are both natural savers. But at the end of the day, if you make enough to not have to sweat the little stuff then just make sure you’re on he same page for the big stuff
Do you make more? It’s your call. End of story.
If he follows your advice, end of marriage is more likely
Did you just assume their gender?