How do married couples share your kids expenses? Share which method your are using here! I have put four ideas here but interested to know more?

My Wife and I earn roughly around the same. We have 2 kids, one is special needs requiring expensive therapy. as such, kids education alone takes up 40% of our income alone.

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For Shared expenses, here’s our split (Which is roughly 50-50 in our household):

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1) Kids education - as wife is the trustee of the kids‘ CDA, she handles all education payments including monthly CDA top-ups. She also handles the kids insurance.

2) Utilities, conservancy & broadband - Wife

3) Car loan, petrol & parking - Me

4) Domestic helper - me

5) Groceries - me

6) Dining & entertainment - Me

For my dad, it is : 3) 100% from Man of the Household since he earns more than mum

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Both has individual account, besides his own expenses for work & insurance, he just

1) Pays for all the bills, utlities, groceries.

2) Allocate a portion for investment for the family future

3) Save a small amount for emergency funds in case of jobless / between jobs

4) Save a small portion monthly for seasonale gifts such as CNY Ang Pow for Mum, kids, Parent in law, gifts of mum/kids birthday, children's day, mother's day, Christmas etc.

5) Finally, balance all goes to mum to pay for everything else such as school fees, enrichment, tuitions and for mum to safe keep in case of any accident or mishap, mum and children will always be taken care off.

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=> This is because mum is a very prudent woman who doesn't spend $ on clothings, branded goods etc and very sensible, practical with $ and living and absolutely hate wastage. Thus Dad trusted mum 100% with all that he earns and as the Finance Minister. After all, since he has chosen to married mum and have us as kids, all that he work for is towards the family well being and he kept hs own spending / entertainment cost minimum.

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Since Dad contributed all that he has, so whatever mum earns, she will pay for anything else that she think is good for the children with their shared pool of $ or her own earnings.

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There is no right answer to this! But let me try to paint it clearer for the others to understand.

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1) 50-50 - Both parties contribute same amount every month

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I think while this sounds logical, may not be sustainable eg some couples sometimes may have different earning power, but the kids are both their responsibilities.

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2) Go by % of income - Both parties contribute same % of their income every month

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This one seems pretty modern and also the most utalitatian (fair) way to do it. But also need to have common understanding on both sides that by both increasing income, it helps the overall situation. In fact, I think this could work by creating a seperate savings account (eg CIMB Fastsaver at 1% p.a) joint account to withdraw from here.

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A shared expense - their kids.

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3) 100% from Man of the Household

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I think this way is not the modern way to do it, used to see other families and my mum sharing from some of her colleages that if the wife stays home, that is where she gets a allowance + family maintainence that she will have to budget for groceries and kids etc.

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4) Maintain individual savings account

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I think this may also result in miscommunications which is not so ideal in a long relationship. Money often is the core of most relationship problems.

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5) Paying for certain activities (or by respective kid). MY WAY

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This example is the one my parents used to raise us up. Both are working adults and worked hard to provide for my brother and I.

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• For tuition, enrichment classes, presents, gifts rewards (for me and my bro) - My Mum covered these
• For groceries, petrol, ultilities, and bills - My dad will cover all these

So far, we've grown up well, and my family has a strong sense of financial independence and know-how imparting good money values to us as well. So I guess this kinda worked?

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At the end of the day, find your own way and stick with it!

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We are still figuring out (1.5years married nia) but so far, it goes by the bandwidth and strength of the spouse.

I'm managing the investments, protection and retirement planning while le-wife takes care of the holidays, bills payment and automation. Her paying for our daily spending is more frequent using her miles card but I do the lump sum transfer like refunding the housing grant and helping her hit FRS fast.

As far as it goes, my money is ours and her money is ours. It might seem the contribution is disproportionate but the circumstances may change with economy and career stability or health crisis. I always say I'll never know one day we may depend on her income.

The spilt and management will be unique to individual couples. Kids will be another area of management but we work on getting a common approach that fits both our value systems.

That's our fulfilment of vows made to each other - that all my worldy goods I endow to thee. :D