Got an Answer?
I'm shit with money but I smell trouble in the relationship if you have to be that controlling over his finances. Even though you have good intentions. I'd suggest taking him to financial counselling so he's taught the skills and then your future financial situation won't rest squarely on your shoulders. Especially if you see this as a long term relationship.
I personally would not have a joint anything with a man like this. Seperate accounts and No joint names on leases or utilities. Nothing. Sounds like you haven't been together for long. Do you really want to be controlling his money and only 'allowing' him $50 a week? That's a long life ahead of you if you have to mother him so early on.
I don't give my husband an allowance. I don't get one either. We both agreed on our financial goals for the next few years and know that any ridiculous spending would have an affect on these so we don't do it. We still go out and have fun. We save our money for big luxuries like cruises.
I give my husband $30 a week, he stays home with the kids and it's to cover coffee, play cafes etc.
This is so SO sad. Living life having to give allowances to your partner. Your equal. Over 300k between my husband and I, we both have access to every single cent. We're both very happy.
We've just gone from 30k combined family to 80k... We no longer need to budget wasteful spending money
How many posts have their been about women getting "allowances" from the husbands and everyone screamed financial abuse?! But its ok for some to do it to men? You are all control freaks, your husbands must be completely miserable living with you.
Having a set amout for spending every week when your trying to budget is smart.
My husband gets $120/fortnight. That's spending and beer money. He doesn't go out much but when he does we withdraw extra funds to cover it.
I would leave him with more like $200 and save $100. Especially if you want this to be a long term plan. I would be annoyed with $100 a week. That wouldn't even be a nice meal out and a movie.
Tell him to divert another $100 or so a week out of his account for rego, insurance, etc. so he's not looking for it when the time comes. Then let him spend his own money, but don't ever bail him out with yours or he'll never learn :)
He might need a goal in mind to help him save? Like set a goal of a $3000 rainy day fund or $5000 for a holiday he would love. I find it hard to save without a purpose if that makes sense. There needs to be a good reason for me to stop buying all the little things I like every day. If I'm doing it for an awesome goal it's easier :)