Family Finances

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In the area of family finances men and women each bear a responsibility, however the areas of concern are different. The husbandís role is to:

  1. Provide the money
  2. Manage the money
  3. Concern over the money
The wifeís role is different, but no less important. Her duties are to:
  1. Be thrifty
  2. Cooperate with his plan
  3. Provide a peaceful home life

As stated in the last lesson, it is the husbandís responsibility to provide the living. Managing the money and any stress with this job fall under the authority that comes with his leadership.

Any man from time to time may have a change in situation that requires a wife to be adaptable and willing to sacrifice. His success or failure may depend on your willingness to cooperate with a new set of circumstances. It is up to you to provide a peaceful home existence, even in the midst of trying times.

A very good way to for a wife to handle the running of a household is for her to be given a household allowance. She should operate within this given budget and practice the art of thrift. Your standard of living can be measured by how well you manage your money. Even on a low income she can be the key to a full and rich home life.

The wifeís budget should cover such things as food, clothing, household goods, personal items, things in regular demand, and even occasional things like furniture, appliances, repairs, or remodeling. Your husbandís income will determine how much this allowance should be, but it should be adequate to keep the family running smoothly. Should the wife become an expert at spending wisely she should be allowed to spend the excess however she pleases. This gives her added incentive to be diligent and resourceful and gives her some personal freedom.

The rest of the household bills and investments should be under the husbandís care and control. Monthly utility bills, loan payments, insurance premiums, yard care, car upkeep , taxes all fall under his jurisdiction. Extra items like furniture, repairs, remodeling and such should be worked out according to the income provided. The final say in such matters belongs to the husband, but certainly a wise wife will have a say and offer valuable insight. There is nothing wrong with discussion, but the authority it his.

Surveys have shown that there are more disagreements in marriages over money than any other single thing. Your husband should consult you, but he is under no obligation to do so - and itís wrong to expect this. If he is meeting his responsibilities for you and his children, then itís best to let him have the reins in this matter.

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Times of Financial Distress

Periods of distress may not be avoidable, but there are a couple of things you can do. First, cut the luxuries. This solution may seem obvious, but if you are used to a life with luxuries, you may not realize how many you can do without. Some of us tend to be penny-wise and pound-foolish. Look for the simpler things in life.

Next, search your budget for any place you can reduce expenses. There are many places a household budget can be cut, or where you can be innovative with new ideas. There are hundreds of resources on the web where you can learn frugal ideas to help you through a slump. The closer you get to the core of an item, the fewer value-added costs are piled onto it. Think about the cost of a home-made waffle compared to the local pancake cabin.

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Problems in Family Finances