Financial Responsibility: How should it be shared when couples runs a family/joint business?

[MastetG]

When you're sharing responsibility forfinances, a compromise could be the best way to go. You can open a joint account to take care of the bills, but keep your own accounts to pay for the things you individually want. It's a great way to make budgeting easier and keep some independence and privacy.

 

[Omonijo01]

For the business to move forward everyone need to know their responsibility and they must all do their duties

 

[Oloritoks]

Couple can jointly own a business so far there's trust between them this will engender intergenerational wealth and legacy being handed down to successive children that sees the business as a legacy to be sustained and maintained.

 

[Sammyesx]

Since they operate a joint investment them the profit should be split into three equal parts, each of them gets one part and the last part is put into a family account with is used to take of family expenses.

 

[chalcedony8]

managing finances amount spouses can be difficult and also very easy, the first most important thing is to build a very good and solid marital relationship, if the marital relationship and interaction is very sound their will be no problem in determining who should bare or take more part in the financial responsibility and who should take less part in it, the most important thing to consider is the spouses relationship.

 

[Kgudners]

Joint account, hmm. Ok I don't think it is ok. But if incase it comes up, both of them are both beneficial. Nothing like head there. There should be 50/50 spendings or both of them should know how much each is taking out for accountability.

 

[Chumzy]

I think the man should buy things that involves investing in their future, and growth. The woman should consider the home and kitchen expenses as hers. But most importantly, they should be sincere to each other.

 

[singlej007]

Although I don't have a joint business with my wife yet, but am planning to, and I see joint business as one business. There should be no need for shared responsibility from the joint business, me as the husband will be in total control over the management and the financial situation, all that matters to be available for my family financially will be done and my wife will be taking care of too.

 

[Dowenship]

If both couples have same business! Nothing stops them in running it successfully! As long they both have a pay-role, I.e each of them must have a role to play in the business and must agreed on salary they both collect at the end of the month or weeks depending in their decision .

 

[Yan]

Hear alot of women saying that a man should maintain his headship in terms of financial responsibilities even when running a family/Joint business as a source of income. What is your opinion in this regard. Thanks.

Since it's a joint business I feel it should shared responsibility i.e shared expenses and even shared profits. It's so misogynist to think the man should take the burden of financial responsibility on his shoulders except of course the man has a larger share of the profit.

 

[Holluwaphemmy]

This topic is not proper to be posted here. Hence, financial responsibilities sold be shared between both parties and without any screw up or any thing at all because the profit is not only for the man or woman alone

 

[Goodday]

Hear alot of women saying that a man should maintain his headship in terms of financial responsibilities even when running a family/Joint business as a source of income. What is your opinion in this regard. Thanks.

Since the business is a family joint business, l think financial responsibility should be taken by both the man and the woman. Well, one of the couple can decide to take the financial responsibility if the other don't have or they can still poll funds together and manage the business.

 

[Life drama]

You shouldn't talk of being couple when dealing with buisness,it is strictly business not home affairs.each and every one should know what their contribution and investment is in the buisness and share what ever loss or gain accordingly, and after that they should go and settle whatever in their home after business.

 

[Kelvin7656]

When you're sharing responsibility for finances, a compromise could be the best way to go. You can open a joint account to take care of the bills, but keep your own accounts to pay for the things you individually want. ... Decide which bills to pay from the joint account.

 

[EMMANUEL]

When you're sharing responsibility for finances, a compromise could be the best way to go. You can open a joint account to take care of the bills, but keep your own accounts to pay for the things you individually want. ... Decide which bills to pay from the joint account.

 

[Godleads1]

Yes, the man should be playing his role or duty. Irrespective of what the woman might be earning, the man shouldn't shy away from his responsibility. The woman is there to assist. Both of them would contribute their own quota.
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Yes, the man should be playing his role or duty. Irrespective of what the woman might be earning, the man shouldn't shy away from his responsibility. The woman is there to assist. Both of them would contribute their own quota.

 

[Kiwi]

Naturally there is intimacy between the husband and wife that they can easily resolve who should handle the steering wheel of the business. It depends on what works for each couple. It is very shameful of a man that shares financial responsibility with his wife.

 

[Ojonuyo]

In addition to what I had said previously, I still feel the husband is the head and should lead the business. While the wife support his idea, manage the business and surpervise to see how to create more profit. And more importantly corperation is key to their business growth.

 

[Shayo]

It does not matter who pays the bills, it is the understanding and agreement that matters. Also, what works for a couple may not work for others. For me, I prefer paying the bills from joint account where we both put a percentage of our earnings and it doesn't mean we can't have personal accounts as well.

 

[mayreeh38]

Of course there will be a business account. Both parties share in the profit depending on who invested more. However, the husband and wife are to magnify their duties in the home. They both should share responsibilities regarding business finance.