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

[tyrim88]

In the case of financial responsibility and who should shoulder the most of the finance,there need to be an understanding between both couple.As the venture is not a competition.The profit if it eventually come., will benefit both couples and so it should be base on sacrifice if any of the couple has the finance to fund

 

[Kunkun]

The first step toward financial responsibility is budgeting properly. Truly, spending plans can be exhausting. However, they are likewise the foundation of monetary duty, regardless of your compensation or monetary circumstance. Financial plans are an approach to advise your cash where to go, for example, taking care of bills, working on obligation or adding to retirement, as opposed to spending unreservedly and afterward pondering where all your cash went toward the month's end.

 

[Olubayo12]

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.

This is one of the areas where couple needs understanding the most, normally this should be shared with the husband taking the larger part while the wife the smaller part but some women many not want to share this with their husband.

 

[Aricha josef]

Where a family runs joint business,I will say part of their profits or gains monthly should be used to run home needs..But if in a situation the couples have white collar jobs,they can bring out a specific percentage base on the amount of salary they earn monthly..Finances provided shouldnt be one sided provided the both couple are earning a living...

 

[Janita]

In joint business it is good to have separate accounts and funds summation because everyone has their own desires and own retirement wishes so I think if there is a business and family so corporation is must required in it without Corporation we cannot even live so noushen corporation is a first step to do with each other then after we can Run with each other.

 

[Blessingedidiong]

A couple running a joint business should share the financial responsibility equally. It is more like a partnership business and not a family responsibility. If the couple sees the business as a partnership business,it would be easy for them to share the responsibility equally.

 

[Adventurer]

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.

Yes it's a man's responsibility to take of the finances in the home regardless of the woman's financial status, but the couple can have an agreement on how finances are going to be split in the home.

 

[Luckboy]

In two-income couples, the easiest setup is to have individual accounts where both partners maintain their own assets but then have a joint account that both fund to pay shared expenses. It’s the least complicated way to share the financial burden of day-to-day expenses while maintaining financial independence

 

[Highflyer]

Even if couples run a joint family business, I believe they should both be responsible for the financing of their home. Most couples operate a joint account where they pay a certain sum to every month, and they each have separate accounts too for personal use. This is a good approach.

 

[Damismiling]

When we have a joint business account, as couple, a joint purse should be used for the needs of the family, and then a separate account or individual account should be used to sort personal needs, this should not be a problem if their is understanding in the family

 

[adazeez1995]

Well, it depends on the kind of woman you are married to. Some women derive joy in sharing the financial obligations of their spouses. It give them a sense of importance and pride. Even though the financial responsibilities rests on the man, a woman should try and support if she can since her man is working in order to keep her family together.

 

[Kelvin7656]

Business plans typically include detailed information that can help improve the business's chances of success, like a market analysis, competitive analysis, customer segmentation, marketing, logistics and operations plans, cash flow projection and an overall path to long-term growth.

 

[Umerfarooq]

It can be difficult to save money when you're in a serious relationship - find out how to plan your joint finances and avoid headaches and arguments over money.

Things to think about when deciding to manage your money

Share, distribute, pay allowances or set aside your money?

Don't jump straight into the deep end

What if you are on universal credit?

What if your partner is spending too much money?

Protect yourself and your family

 

[Mazhar Malik]

As far as the relationship is concerned, if a couple runs a joint venture, the family's financial support should be shared equally. This cannot happen when both agree

 

[Esther]

Well in my opinion I think it should be shared 50/50 cause the effort put in the business is equal the ideas are shared responsibility are shared then why won't the profit be shared please? It should be shared equally there is no seniority in business

 

[Asad Ali]

I think it is nice to have a shared account, I would always recommend that couples are used privately to their own accounts. The joint account can be used for and used for family emergencies and funds
If both contribute enormously to savings on the account, they are referred to as pairs. I also agree that the couple should jointly manage their home financial expenses.

 

[Marissa]

The husband usually has major contribution in the account. In most cases, he contributes more of the savings, while the wife contributions to the account are usually less. Most times they both have equal right of access to the funds deposited in joint account without the use of share ratio.

 

[Abu4exel]

Financial responsibility? It should share among the couples. They should know among themselves who is to steer the wheel. Although, man should take charge but when it a little bit down the woman should comes in as well to assist.

 

[gbadebo9]

To run a businesses between husband and wife is good but we nerd to be very careful not to use company money for another thing. Sharing formula must be spelt out before starting the project so that it will not caused enmity between them. Mou must be signed and it must be followed the letter.However it is not advisable to leave the company in the hand of women bcis they may be using the business money for another thing which will hinder the growth of the company. It is good for family to have business but we have to spelt out term of agreement.

 

[idhans]

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.

women also have a very important role to play in running their homes now in our generation unlike before when men used to do the whole thing. For me it is very easy when couples are managing the same business because they can keep a separate account that can take care of family issues and their welfare.