Family Budget & Money Management Tips in 2023

Posted by

Money is one of the hottest topics of contention in the family. Depending on upbringing, level of education, and personal views, everyone has their own opinion about who should earn and how to spend. The main thing is that it coincides with the point of view of the partner.

responsibilities in family budgeting

Defining responsibilities in family budgeting

Here, each family makes its own decision, because of “how many people – so many opinions.”

  • The family budget is the husband’s earnings, and the wife’s salary is her money

This opinion is usually justified by the fact that most of the life and upbringing of children is on the woman, but they work the same way. Although, according to statistics, Women work an hour longer than men and spend an average of 5 hours a day cleaning, cooking, and caring for a child (men – 1.5 hours).

  • The family budget consists of the salaries of the husband and wife

Taking into account the statistics of the average incomes of Ukrainians (women, by the way, are paid 24% less), one salary is not enough for a full-fledged life of a family of 3-5 people. Therefore, it is quite logical that if a woman and a man want to provide their basic needs and good leisure, then they need to fill the family budget together.

  • A man fully provides for his family and wife

Some women are happy to choose not to earn, but to do what they love, if the husband has sufficient income. This can be childcare and household chores, volunteering, creativity, etc. Unfortunately, we did not find statistics on this matter, and we are not sure that such studies were conducted. But it is fair to say that this model has the right to exist with mutual consent: when the husband has the ability and desire to provide for his family himself, and the woman herself does not want to work.

  • The main breadwinner in the family is the wife

According to last year’s Modern Understanding Masculinity survey of men, 37% of respondents believe that a husband who earns less than his wife is “worthless.” By the way, the results of this survey received wide publicity. Some called the opinions of the majority “Domostroy” or “Middle Ages”, others – fair.

And yet there are families in which a woman earns much more than a partner or even works herself. And if her husband does not belong to this 37%, then such a family will be quite happy. But it is likely that from time to time he will still have to confront social stereotypes in order not to feel like “not a man.”

Ways to plan a budget

Today, when more girls and guys are getting married after 25, when everyone has their own source of income and views on finances, pooling budgets can cause misunderstandings. How to solve this issue?

Ways to plan a budget

Full income pooling

A common drawer in a bedside table or a bank account where all the funds earned by each of the partners are stored. Both have equal access to them, and utility bills, expenses for a child, food, vacation, apartment rent, and loans are paid from here.


  • For some, such a shared budget has a symbolic meaning, as they are no longer just people with a common living space, but a real family.
  • When everyone sees how much money a family has, then there is less desire to make unreasonably expensive purchases (rare fur coats or a new PlayStation).


  • This approach can cause misunderstandings when one, for example, earns significantly more than the other and believes that he has more rights to manage the budget.
  • Every major purchase should be discussed with a partner. At the same time, one may, for example, want to save money for a deposit, while the other may want to spend it on vacation.

Partial pooling of income

Not all income, but a part, is put into the general account or into the box. Together with a partner, you can determine your mandatory expenses and the contribution amount (fixed or percentage of income). At the same time, everyone has his own account, the funds from which he manages at his own discretion.

Interesting on the topic Upcycling: Giving New Life to Old Items in Interior Design {2023}


  • Joint needs are paid together, and at the same time everyone has a certain financial freedom to buy their “Wishlist”. This method can be convenient for those couples whose incomes are very different.


  • To make such a decision, there must be sincerity and trust between you. In case of omissions during the discussion stage, one of the partners may feel offended, and this may lead to future disputes.

Completely Separate Budgets

This method can be convenient when, for example, a husband and wife are able to fully provide for themselves financially and are already accustomed to personal funds. In this case, it is necessary to discuss in advance the issues of joint expenses: utilities, products, etc. They can be divided among themselves and be responsible only for their part.

Completely Separate Budgets


  • You feel self-sufficient and fulfilled.
  • There is no need to negotiate and ask for advice on serious purchases.


  • In order for everyone to have equal opportunities for career growth, household chores must also be divided equally, and this can cause misunderstandings.
  • Separate budgets are usually not possible when a family has a baby. But in this case, you can hire an assistant and both continue to work.

In order not to have problems in relation related to the financial issue, it is necessary to jointly decide in advance who will earn and how to manage the funds. The above methods are not exhaustive, because in the case of partial pooling of income, one partner, if necessary, can put more into the common pot. And with full pooling of income, everyone can keep a certain amount for personal expenses. The main thing is that at the same time, everyone is happy and there are no confrontations.

And what do you think about this? Should one person provide for the family, while the other takes care of children and life? Or maybe you think that both partners should earn? Does the opinion have a right to exist that a husband who earns less than his wife is not worthy of respect? Share your thoughts and experiences in the comments.


Q: Do both parents need to manage the family budget?

A: It’s good when both parents work together to manage the family budget. It helps make better decisions and shows teamwork.

Q: What if one parent knows more about money than the other?

A: If one parent knows more, they can teach the other. Budgeting is a chance to learn together and use everyone’s strengths.

Q: How can we solve money problems without fighting?

A: It’s important to talk kindly and listen to each other. We can find solutions that make everyone happy and still meet our financial goals.

Q: Should kids be part of budget talks?

A: Yes! Including kids in budget talks helps them learn about money and how to make smart choices. It’s good to start learning about budgets when you’re young.

Q: When should we ask for help with our budget?

A: If we have big money questions or need advice, we can talk to experts like financial advisors. They can give us good ideas and help us reach our goals.