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Ladies, Should You Leave Financial Decisions To Your Spouse?

Posted by Shanna Tingom, AAMS® on Mar 16, 2021 7:54:00 AM

Are your finances currently controlled by one person? It is rare for both parties in a marriage to handle the finances together. In an overwhelming number of cases, the wife leaves the husband to handle all financial issues. This may be common but it is not exactly a sound approach to managing the money inside of the home.

Difference In Opinion

The trouble that tends to stem from this type of one-sided financial domination is that there are often differences in opinions on things, and the person that is ruling the checkbook is typically going to have the final say. In a number of instances where women may want to do different things with the money that they both make, it can be hard to find an even compromise. Men that are in this position of managing the finances may feel that they know what is best for the household because they are the ones that are looking at the numbers. This can cause conflict. It becomes harder to resolve when both parties are not making a conscious effort to look at what is being spent. It essentially causes more trouble because there are going to be times where a joint decision needs to be made. There are a few times where a single person can make a decision for two people without some type of conflict becoming the result of this decision.

Long Term Planning

When the man is the only one making the financial decisions, it becomes harder for the woman to justify what is considered essential. A man may choose to cut some expenses that a woman may find necessary. There may also be things for the children that couples disagree on. This can cause a lot of problems in a marriage. It builds walls where the husband and wife may be in constant conflict. This is not good for any marriage.


When the man has been in charge of the finances, things get very tricky during divorce proceedings. This is what many women have not given much thought to. They can assume that the vows that they have taken certifies the spouse to be in a position of authority when it comes to financial matters. The trouble is this line of logic does not play out very well in court during the divorce proceedings.

A woman that has given her spouse complete financial authority during the marriage could easily find herself penniless if a divorce occurs. It is better to know what is going on at all times when money is the issue at hand. No one wants to walk away from a divorce without the ability to sustain themselves if the marriage comes to an end. Unfortunately, women that let their spouses handle all the money decisions could find themselves in this type of situation.

Death of A Spouse

Most women would rather not think about it but the death of a spouse can result in total chaos when it comes to financial issues. When the husband is the one that is tending to retirement plans, investing and household expenses, the wife may be on autopilot. She may not have the slightest idea on what her next step will be if she is put in a position where she has to handle any of these things.

The First of Finances

A lot of women clearly prefer things this way but it is not practical. It is a bad idea simply because it strips away the partnership that should be the foundation of the marriage. It puts the husband in a dominant role that leaves the wife scrambling for guidance when the happily ever after blueprint gets altered.