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

[Setho]

Humans are people who are very different and even in relationship with one another. Am in the opinion that every relationship should discuss and knows what works for them best. But at best, everyone should be contributing to the growth of the family all the time.

 

[Good-Person]

I would actually avoid starting my business with my spouse, relative, or any other family members. This is because I consider my source of income as something that is private. I know this may sound weird to many people but its just my personal choice. Anyway, couples can run the business just like they spend their life as a couple. Mutual understanding is the key when it comes to personal life or business life and it doesn't really matter if you are starting your business with your spouse or any other person.

 

[Shigobad20201]

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.

Running a family business with your wife is not a bad thing but when running a bad business with your wife, be expecting her to be taking 70% while you take 30%, because I am also in the same situation, she will always want to take more than enough.

 

[Chibson]

Sharing of financial responsibilities all boils down to the individuals involved. Some men love it when their wives are supportive in terms of financial responsibility while some don't bother about it.

 

[Setfragil]

Sharing responsibilities among partners or couples depends on the understanding and the agreement between them. It is good to always agree on business sharing formula when going into partnership with anybody to avoid issues in future.

 

[nimzy]

With me, that is quite commendable for a man to always retains his headship even as a family business because he always has the charisma to make decisions that sustain the family will be the same in managing the family business.

 

[Alisco]

This is one of the major problem in the home today,some women want to be part of the financial control of the family while some want their husbands to take care of everything but I advise if they can do it jointly with understanding is okay.

 

[Sotherefore]

This is how I am going to organise my own, if my wife is earning $200 every month and I am making $500 every month, she has to take out $80 or $100 from her salary then I will bring out $200 or $300 from my salary and both of them will be join for family feeding, then we can save the remaining one.

 

[eLdavis]

i think its best if the said couples make the decision themselves, as they know better who puts in more effort and the percentage brought in by each person. And what works for others might not work for you

 

[Setho]

In a general context, humans are very different individuals and things might work our for them differently so the couple should sit and discuss what's best for them.

 

[Alexandoy]

Sharing responsibilities among partners or couples depends on the understanding and the agreement between them. It is good to always agree on business sharing formula when going into partnership with anybody to avoid issues in future.

When the husband spends so much from the business earnings and the wife is frugal with her own spending then there might be a friction when the business cash flow suffers. Blaming would result. However, I know of couples who do not blame for whatever happens. I like their style of relationship.

 

[Jlife]

If a couples are running joint business it the responsibility for them to agree with one another to take a certain percentage of profit ffom the business for family upkeeping, it is not the responsibility of the man alone.

 

[tyrim88]

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.

one thing i see that couple should imbibe is the culture of team work when it comes to every issues in the family,and finance should not be an exception.When it comes to shared respomsibility throwing it at one party should not be the ideal thing to do,but rather it should be a collective responsibilty from both side.

 

[Bousine123]

Humans are people who are very different and even in relationship with one another. Am in the opinion that every relationship should discuss and knows what works for them best. But at best, everyone should be contributing to the growth of the family all the time.

I think it should! Basically they should know the percentage that will go for both of them. But it will also be determined by their shares and stake in the business.

 

[kayode10]

I think the couple need to sit down and have a heart-to-heart talk with each other on how they want the expenses of the business and the family to go. They should also come with a plan on how they will continue to manage the expenses so that it will not affect the family and the business.

 

[Alexandoy]

I think the couple need to sit down and have a heart-to-heart talk with each other on how they want the expenses of the business and the family to go. They should also come with a plan on how they will continue to manage the expenses so that it will not affect the family and the business.

In my case the serious talk about finances is common because my wife and I have an understanding that what is mine is hers and vice versa. In other words we equally share everything.

 

[Razor1911]

In my case the serious talk about finances is common because my wife and I have an understanding that what is mine is hers and vice versa. In other words we equally share everything.

It is very good to hear that you and your wife understand each other very well. Understanding is required in every type of business profession. And such understanding is also required when the business is in low position.

 

[Setfragil]

It depends on the level of understanding in their relationship. They can agree to share the responsibilities equally or have an agreed ratio that will be used in sharing their responsibilities.

 

[kayode10]

In my case the serious talk about finances is common because my wife and I have an understanding that what is mine is hers and vice versa. In other words we equally share everything.

That's very good, it seems you and your wife have the same mindset. The case is quite different over here, most women believe that their own money is for themselves why your money is for everyone in the family. Majority of them expect man to take responsibility for everything in the house without them contributing anything why they sit back and enjoy.

 

[Razor1911]

It depends on the level of understanding in their relationship. They can agree to share the responsibilities equally or have an agreed ratio that will be used in sharing their responsibilities.

In most cases, it is understandable. Afterall, if you are working hard, your better half will surely support you. In rear cases only there are some sort of disputes.