Chief Financial Officer

It’s Thursday, April 15, 2010, a day most Americans eagerly look forward to. Yes, that’s’s Tax Day. If you owe, you are giving Uncle Sam a serious side-eye right about now.  If you were like me and got a refund, you probably filed as soon as you got your W-2 in the mail. I was particularly motivated to file quickly because I needed that extra change back that the government had been holding onto all year. Gotta love those interest free loans that we give the IRS.

 At any rate, I mailed out Myron’s tax form this morning. He does a 1040EZ so it was quick and easy to do. I’ll drop it in the mail at work so it will be postmarked today. If there is one thing I DON’T do, that’s play with government deadlines.

 That got me to thinking about familial finances. At this point Myron and I have been pretty transparent about our finances, the good, the bad and the ugly. He doesn’t have much interest in managing the money, so the CFO duties in our household will be falling onto my capable shoulders. He likes to make the excuse since I have the finance degrees, I should handle the money. *raised eyebrow at my fiance’*

 How do you handle finances in your household? How would you handle it if/when you get married? Have any tips to avoid conflicts over money??


10 thoughts on “Chief Financial Officer

  1. I started off handling all money and business stuff. My husband was a spender. I alloted a monthly amount for to him for play money. Then I got pregnant and exhausted and he was forced to handle it. He started off bad but now he is fantastic at managing our funds. I’ve created a spending plan so we both know what is going on at a glance.

  2. On October 10, I will be gladly handing over my paycheck to the man of the house. A.MEN.

  3. I am a thrift/budget loving spender and the fiance is an impulse/let’s live in the moment spender…. I will definitely be taking charge of our finances when we combine households, there is not even a doubt about that one. 🙂

  4. I have always been the CFO. Got an excel workbook with all of the accounts and keep up with everything that way. I also keep a monthly spreadsheet of bills. I am accountant through and through. Nerd Girl’s “if I die” folder idea is a good one. Especially for people that get married later in life. You will need to be able to access all of your spouse’s accounts. Some accounts will want to know previous addresses for security reasons. Pin numbers and passwords are especially important.

  5. I handle everything!
    The person who is better with their personal finances should handle the family finances.

  6. CFO #4 chiming in. I’ve talked it over with MM MANY times and he wants it to be just like his grandparents – he walks in and hands me the $$$ and I give him an allowance. I’ve expressed that I will want him to be involved in the money matters but he just gives me the standard ‘Yes, Dear’ – even our honeymoon. I guess the male is the traditional planner of the honeymoon but I did the research, found the place and booked the trip. I kept him in the loop, but all he wanted to know was how much did he need to give me, LOL.

    I guess that’s good because he doesn’t know I booked first class seats (his using my miles) and a candlelight dinner at sunset on the beach.

  7. I handle the finances. When we first got married we did the his, mine, ours system, but that didn’t work for long – he kept handing me his checkbook and bills. So I combined everything after about a year.

    The only thing he handles is getting the taxes done.

    Much like SLS, my hubby isn’t that interested in how much/where/etc. If I drop dead tomorrow he wouldn’t know where to begin. I’m seriously considering setting up a “if I die” folder for him.

  8. Well…I’m in charge. He pays the bills for where we live because I moved into his house after we got married. I get them electronically and forward to him so I know what they are and that they are getting paid.

    I pay all the bills associated with my house, though I communicate to him what they are and the amounts etc.

    I am in charge of our savings and investments. Even though I have given him the information some several times over, he has no idea how to access these accounts, barely knows what the balances are, nothing. He figures the amounts are growing so, it’s all good. Le Sigh.

    It works for now, but we will have to revisit once we get another house and our money is more commingled.

  9. Michael *use* to handle the finances. I didn’t want to because THAT’S what I did all day at work! Now this was prior to online payments… He would ride the bills around in the car with him instead of dropping them in the mail. Needless to say, I pay them now and handle all of the finances.

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