Does your spouse know exactly how much you earn in a month including your other side income? To be honest, mine doesn’t because he doesn’t bother to ask. On the other hand, I know how much he earns because he lets me see his pay slips.
My husband knows I have other side income since I have a lot of financial obligations as I have told him before we got married. I would tell him I’m paid a certain amount from this project but then he doesn’t demand that I tell him everything.
My husband and I have this set-up that we each pay certain household expense and then we don’t bother each other’s income. We also share on big ticket items and investments. I know this is not the common practice of most Filipino couples because traditionally, it’s the wife who manages the family finances where it’s the husband who is the breadwinner. So far, this set-up works with us.
Between my husband and me, I’m the one who’s an impulse buyer and is usually a risk-taker. My husband is the frugal and conservative one when it comes to money matters. If there’s someone between us who’s going to manage our finances, it should be him. But then, he sees I’m not the kind of person who splurges on luxury items. I usually spend my extra money on gadgets which I also use in my rakets.
On the other hand, I also don’t want to manage our pool of resources for the reason that I’m not good at it. I’m good in earning side income but managing my finances is something I am working very hard to do every day.
I guess it really doesn’t matter what set-up you have as long as there’s mutual respect and honesty. My parents used to tell me that couples should never quarrel about money. I think this can only happen if couples talk about money openly. One of the lessons I learned about debt and marriage is that you should be honest about your financial position to your spouse. If you voluntarily disclose information about money, I believe your spouse will do the same.
I always think having money as your only problem is a blessing because it’s easier to earn money but things such as a happy family and good health are much harder to come by.