How much does your wife know about your finances?

[scott h]

4 hours ago, davewe said:

not telling your wife too much about your financial situation

In my case, I don't even know our online banking password (I am sure I could find it if I really cared), the wife hands me the credit card when we need to buy something and I ask for my allowance of 100 pesos a day if I am short. But then again we have been married for more than 20 years.

IMHO it all depends on the type of relationship a couple has? A partnership? A journey through life as equals? In our corporation, I just know for a fact that I do not have a controlling interest . 

[MacBubba]

Although we are transparent with our finances, we have always maintained separate accounts.  We will have to revisit our arrangements when we make the move.

She has always been in charge of budgets and planning, from daily/monthly expenditures to long term investments.  I suspect that she's tired of having held that responsibility for 26 years.  Frankly, I hope that she sticks to it.

 

[Reboot]

57 minutes ago, scott h said:

In my case, I don't even know our online banking password (I am sure I could find it if I really cared), the wife hands me the credit card when we need to buy something and I ask for my allowance of 100 pesos a day if I am short. But then again we have been married for more than 20 years.

IMHO it all depends on the type of relationship a couple has? A partnership? A journey through life as equals? In our corporation, I just know for a fact that I do not have a controlling interest . 

I was married 20 years until this summer. She handled the finances. It made transitioning more difficult for me. That's a dangerous situation no matter how long you have been married. I will never do it again.

[AlwaysRt]

7 hours ago, davewe said:

how do you make sure she really understands

This is the hard part for me. I tell her, she listens. Doesn't usually ask questions but does occasionally. She really isn't interested in money, does not even want to bother with carrying any as we are usually together when we are out and about.

[OnMyWay]

2 hours ago, scott h said:

In my case, I don't even know our online banking password (I am sure I could find it if I really cared), the wife hands me the credit card when we need to buy something and I ask for my allowance of 100 pesos a day if I am short. But then again we have been married for more than 20 years.

IMHO it all depends on the type of relationship a couple has? A partnership? A journey through life as equals? In our corporation, I just know for a fact that I do not have a controlling interest . 

My wife is much better with money than I am and what you describe is where I would like to be someday.  My wife is a CPA and also thrifty.  I am very wasteful and I should be kept on a leash financially.

I have kept track of my money in Microsoft Money since the 90's when I got my first PC Jr.  She could easily take over that task, and would like to, but I don't think I can have her do that until our babies are older.  She has too much on her hands now.

My wife knows about my finances and she is very private with them.  In fact, she is overly private with them with her family.  That is despite the fact that at least 3 of her brothers and sisters are far wealthier than I am.  For the others that might need "loans", she truthfully tells then that I don't have a pension and we live on my savings.

On the other subject, one thing to consider is where you live.  If you have some wealth and display it (e.g., nice car, nice house) you will be safer if you live in an area where others are similar.  If you choose to live in a poor area, you are more of a target.  I see really nice houses built in the middle very poor areas, and I'm sure those people living there (Filipino or foreigner) are large targets.

[Hey Steve]

58 minutes ago, AlwaysRt said:

This is the hard part for me. I tell her, she listens. Doesn't usually ask questions but does occasionally. She really isn't interested in money, does not even want to bother with carrying any as we are usually together when we are out and about.

This is about the same position my wife takes. She's good with a general sense of our finances-she's frugal too-very frugal...

[Jack Peterson]

31 minutes ago, OnMyWay said:

My wife knows about my finances and she is very private with them.

 I get my Pocket money and that is good enough for me. 

[mogo51]

My SO of 4 years know our financial position, she is educated and understands. If she is not sure, she will ask me to clarify. I have no problems with this, simply, I don't have that much, but by Filipino standards we are ok. I don't have to worry about her spreading it around, as she knows if she does so, they will be annoying us for a 'loan' which she knows will not be forthcoming. We were discussing fiances once and she said, 'you don't have to worry about me picking you because you are rich, because I knew before we got together you were not and it does not concern me at all'. But I keep her abreast of finances in case I fall off the perch and she needs to know how to access the money for her future life.

[Tukaram (Tim)]

My wife knows all about our finances. I know give her the monthly budget and she makes it last.  Biggest problem is the pocket money burns a hole in her pocket... we need to work on that ha ha. 

She knows how much we get each month, currently. Also, she knows when each retirement kicks in later (years later). She says we are going to save for one year and buy a car...she has said that for 6 months and not saved a peso yet. I don't really want a car so if she saves enough or not is not a concern. 

[bows00]

Now I am going to place all of you who have contributed to this thread into a hypothetical situation.  Just put yourself in this situation before giving any advice or comments.  So just for discussion purposes, what if you had a net worth of $2 million?   How would your answers change?  Would you place all your assets with your Filipina wife?    

Would you trust her with all your finances?  How safe would you feel if she disclosed your situation freely?  With family... friends... etc...