Is  centralizing family money a good idea?
143349
it sounds like a good old fashioned family that sticks together. the only negative might be that it does not teach financial independence of the young family members.\n\nmaybe you could suggest that you keep a portion, maybe 10% in a seperate fund so you could learn how to use money.
1105731
Personally, I would use some of it for home improvements, but you would be wise to leave at least half of it in the bank.  If you're starting a family, you might want it as an extra cushion in case something happens.  It would be a good idea to add to it as frequently as you can.
13232
It really works for some folks.  I know a lot of people who are on their 2nd marriages that do that.  And some couples have joint accounts for house stuff and then separate "fun" accounts for themselves.
710982
Myself and my brother never paid any money to our parents but we certainly helped alot more around the house as we got older. Washed cars, mowed the lawn, kept the house tidy, made meals for the rest of the family. We have both also gone on to full time jobs which pay well, both own our own homes and are debt free other than our mortgages. I think there are a number of factors that contribute towards your children understanding how to pay their own way. I will not ask my children for keep unless they are still living at home after 30. \n\nThese days I would prefer their money went into saves so they can afford their own home.
939793
I am normally a generous person, and in the past when I have had extra money,  I have given money to people that were less fortunate. However, given my financial circumstances at the moment (my wife lost her job earlier this year and we are trying to survive on one income right now), I would probably keep most of it for myself and my family.
99085
right time to grow together.  many factors in your life may answer that better.  do you have $ saved? family supports? another income? then perhaps is the right time.
598744
Perhaps the families in question should read the fine print before they borrow money from a "Payday Loan" type of lender. Better yet, being more responsible with your financial matters usually helps out alot. These businesses while charging way too much for their services and preying on those who are in need of quick cash, have the right to operate this way. The charges for their services are not "secret" and if cost is a concern then I would recommend asking the right questions, i.e. How much??? \n\nI am in the Army and know that it is not necessary to starve unless you  can't keep your unnecessary spending in check. As for deployments? I am inclined to ask how all the increased family separation pay, the hazardous duty pay, increased BAS and BAH and the other support benefits are not enough? \n\nShould the government help protect these poor poor souls? Yes, by strengthening our education system and releasing graduates into the world that have enough sense to find their way home at the end of the day. \n\nDo you really think that we need to be protected from our own choices? Go to payday loans....Choice. Spend responsibly and cut back when necessary....Choice. Frankly I think it is sad that you would ask for the governments help in the form of limiting freedoms and in the same breath bring up our military who if you are unaware, are charged with protecting freedom. \n\nI agree that these businesses are wrong to prey upon those in need. In fact I think their practices are unscrupulous and un-American, but their right to charge what ever they wish for THEIR product or service is theirs to cherish, appreciate or take advantage of. It's too bad that they choose to take advantage rather than to contribute, but that's life. Get your affairs in order the old fashioned way. Don't live outside your means and quit expecting someone else to pick you up when you throw yourself to the ground. I for one can more than relate to having debt issues and tight times, but I also know who is to blame and exactly who will have to pull me out when I find my self in such a place.....ME.
749624
The term "allowance" is usually used, in the US, to describe money parents give their kids for pocket money -- to spend on video games, save up for toys, or buy soft drinks and snacks when they're out with friends.\n\nThis may explain some of the shocked reactions you've received to your question -- it's not common for adults to give each other allowances.\n\nNow, having said that, it's a VERY good practice for married couples to have three accounts -- his, hers and ours.  (This can be easily set up with the payroll department at your husband's work, to have the money automatically deposited in whatever amount you guys work out.)\n\nHere's how it can work with a single-paycheck family (that's been us, for most of the last 20 years).  The majority of the money goes into the "ours" account, and that's used to pay for common expenses -- housing, utilities, food, school supplies for the kids, gas for the car, etc.  \n\nThe rest of the money is split -- according to a scheme that works with your budget and income -- between "his" and "hers."  Once money is in one of those accounts, it's yours to do with as you see fit.  If he wants to donate the money in "his" account to a political cause you disagree with, you can't stop him; if you want to save up for months and buy a wildly impractical and ridiculously expensive pair of shoes with the money in your "hers" account, he has to accept it.\n\nThe good thing about such a scheme is that it gives each of you the freedom to have a certain amount of money that's ALL YOURS -- there is nothing like having money that nobody can tell you how to spend. \n\nNow, how much should that be?  That varies with your income, expenses, and goals.  If you're just starting out, and especially if the "ours" account covers housing, food, utilities and the rest, then 3% may be all you guys can afford at the moment, especially if you're trying to save for a house or some other major expense.  I encourage you to save as much money as possible, putting it away either for major purchases (like a house or business), as an emergency fund, or of course for retirement.  (No, it's not too soon to start saving for retirement, no matter how old you are.)  If you have a little more flexibility, you might consider working up to putting 10% into each of your "his" and "hers" accounts, and putting the remaining 80% into the "ours" account.  \n\nThe key, though, is as several other people have said: communicate about your goals, your needs, and the reality of your situation.  If all your financial needs are being taken care of out of the main account, or if you are aggressively saving for the future, a 3% "allowance" might be just fine.  But don't be surprised if your American friends give you a funny look when you talk about your husband giving you an allowance.
1168967
Do what's best for your kids first and what meets your financial needs. Follow your heart with respect to the rest of it and see how things work out. Sounds like you have an amicable understanding of each other so who knows, this could be a good thing more than you realize.
522528
For me it's alright. They are family anyway. :) Just make sure that your older siblings has the capacity to pay you back because if not and your in need of money, you'll have a big problem! And you're really wise to charge interest. ;)
126349
I don't think it's a good or bad idea, it depends on the circumstances of each family.\nI believe that it would be great that kids had their mother at home, so they can have their support, help, listenning, and love all the time. \nBut i believe nowadays women have profesional goals, and needs the activity and recognition gotten by your work.\nBesides, the economical needs, or better, the economical expectations on the family life style have changed, and we need to get more incomes in order to reach those.\nSo it's ok, we are only trying to fit into this days standars, but we have to be very careful to not let the important things aside; you know, like findind the time to spend with your partner, having the time to play with your kids, and to talk to them about important stuff for them, and to work out, and to read, and to love each other in the family.
83139
That is an interesting view of things.  I have always had an inclination the exact opposite direction, that is, to help my family first, then my town, then state, country, the world.  I'm not saying this is right and the way you are talking about is wrong.  I guess it's just that when I have some money to donate, and I look around, and right there is my own family member who is barely getting by, then how can I let him starve while feeding a stranger?\n\nBut what you are saying is a good philosophy.  For if I were to help the country, then perhaps there would be this "trickle-down" effect to my own family member.  I think there may be something to that.  I just wish I was a billionaire and could help everyone!
231648
I personally do not need the money not that I am rich but my husband and myself make enough to pay the bills and feed the kids and what more can one really ask for. My parents on the other hand are having a hard time finacially since my dad retired. I have been trying to help but with 3 kids of my own I cant always help them as much as i would like.So I guess I am asking for them.
96879
If you have accsess to sam's club or costco try there or your local exchange.\nI would personaly go with the exchange,some of there profit goes back to support you and your family.
436189
If your involvement with the families was through your job, it is probably considered part of your work duties.  Therefore, the only compensation you should receive is your paycheck, not from the family.  Double check with your supervisor or legal counsel at your job.
985788
H'mmmm.  Well if you're dependent upon them for financial support, I'd think about it twice.  Maybe it is a good idea to wait until after you've completed your education.  Sounds calculating, I know. But it's also practical.\n\nI've never met your family, and of course you should have a better feeling for how they'll react.
159443
I have always believe that when two people get married the finances should be combined and both should have equal access.  I make twice the money of my wife but I trust that she is smart enough to have equal access to the money.  She still maintains a small seperate checking account that we put some money into each month so that she can buy stuff, especially presents for me without me knowing what and how much, plus it makes her feel more comfortable.  But the majority of our money is in a joint account that she has full access to and that I encourage her to use.  When you divide money up based upon who earns what I think the relationship is destined to fail.  How can you be truely committed to a relationship if your holding on to your money to protect yourself?  When you really love someone you don't try to protect your self from them or the posibility that your relationship will fail.  To do so is admiting that it will fail.  Your other points are equally valid, it is in the families best interest that you have equal access to all funds in case of an emergency.  Your name should also be on the titles of all cars and houses and on every credit card.  I also think it is important that you take time to look at the accounts on a regular basis.  There are so many horor stories out there of one spouses problems bankrupting a whole family and the other spouse had no idea that there was a problem.  And on a final note, just because you want to stay home with the kids that doesn't make you any less important.  By taking care of the kids you are saving your family huge amounts of money without you ever being paid for it.  If he has to keep his money seperate then tell him you want an account and that he has to pay into it each month the amount that you would normally have to pay for child care plus what your not recieving from a normal job.