I’m getting married maybe in a few years! Interested to know tips on handling couple/family finances and how is it different from pre to post marriage?

I previously asked my colleagues who are married. I've got a few answers.

​

1. Each contributes a certain amount of salary into shared account. Electricity bills etc. all giro from this account. Home expenses like groceries, outings etc. will use a separate credit card with most yield then giro from this bank acc directly. Of course they will discuss about the finance at least once a month to ensure all is on track and nothing out of ordinary. Personal credit cards and everything else pretty much pay yourself.

​

2. Husband pays the big items and wife pays the smaller stuffs like the occasional meal out or sometimes groceries. This family usually eats at home so they don't usually eat out. Also, the husband is earning more than the wife so this is a more "i-love-you-so-anything-you-say-wifey" scenario.

​

3. Monthly expenses split into % or categorized. One pay grocery another pay electricity. One pay insurance and another pays handphone bill. Two of them already come to consensus before marriage so they're just using this mode. Anything additional, discuss.

​

Hope this helps!

I recall for pre, I just do and buy whatever I want especially since I am already disciplined and relatively savvy in my own savings and investments.

We believe in equality, so before marriage all the expenses during our co-habit for 3 years prior marriage were split equally.

​

But for post, we somehow adjusted. We talk things out first for big tickets items. Somehow, I am the CFO, Planner and Secretary for us, so I am in charge of all these things. But only because there is a level of trust and I am better at it. I think you can consider each other’s strength and weaknesses to decide such roles.

​

I believe in own financial planning for self and as a couple. There are some savings and investments that are in my own name and decision. But I also set aside a joint savings account, joint investment trading account and shared properties investments. I also ‘helped’ my hubby to invest his own money by offering my analysis but the call is his to decide.

​

The next important thing is life goal direction. Especially if you got to know your fiancé from school days, are there any changes. For example one is career minded in rat race vs the other bochap take things with the flow. One wants to FI early so really work hard to save and invest; meanwhile the other spend money anyhow.

​

I think my case is unique as my hubby is Financially Independent early retirement. But i am working towards it for myself. This makes my investing on behalf even more challenging because of different objectives. I am about growing wealth and he is about preservation.

​