Mum’s Bringing Home the Bacon: How Family Finances are Changing
Money has always been one of the greatest sources of friction in marriages. How much of it there is, who makes what, and how much they should pull their own weight are all hot-button issues.
In nearly half of all modern families today, it is the wife who makes more than the husband. In general, the more a woman earns, the less work she gets to do around the house. This finding is mirrored for men, as well. The less men earn compared to their wives, the more housework they find themselves doing. Nevertheless, almost never do men earning less than their wives do as much work around the house as women who earn less than their husbands. Primarily, women still work more than their husbands to keep house, no matter what they make.
Fighting about money
Domestic arguments in families where the wife earns more often get around to matters of money, even when they are about household chores or other problems when they start. In half of all such families, the fights tend to be about frivolous purchases by the husband. One in two couples fights about inadequate savings and one in three, fight about the family budget.
It can help to take a close, objective look at these fights. Bringing emotion into it never works. Women tend to be more vocal about issues now because their higher earning power makes them feel that they have a voice. While there’s nothing wrong with this, it’s important to make sure that arguments made are a fair criticism.
Cut some slack
Nearly 60% of women who earn more than their husbands report being in love. Meanwhile, 73% of men who earn more than their wives report being in love. There are a number of factors at play here. Women who earn more tend to be very unhappy about being responsible for everything around the house, including more of the household responsibilities and the money. Women, as well, frequently resent how their husbands do not seem ambitious enough in their careers and seem to have no plans to move up in their lives.
Many fights are over financial irresponsibility by the husband. In general, cutting each other some slack for spending decisions is important. It’s a loving relationship and not a business, after all.
Making financial decisions
From paying bills to budgeting, saving, investing, planning for retirement and managing the family’s credit, women tend to make more family financial decisions when they make more. Often, this is a responsibility that stresses these women out.
It doesn’t have to be this way, however. It’s possible to hand authority for financial decision making over to whoever has the skill for them. If the husband happens to be more skilled at investing and other financial matters, decisions such as choosing an investment portfolio, improving credit (http://fixmy.credit/) and drawing up the family budget can go where the skill is.
Life can be more complicated when established roles change. There is no need for it, however. Changes in roles do tend to make people nervous. Once everyone gets used to the new roles that they play, these arguments can smooth over.