ANSWERS: 6
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First, does your wife work and is her money also being deposited into the joint checking account? If so, this is a real problem. My wife had a bad problem of using an ATM and not telling me or giving me a receipt. i lost track of my balance because of this. Solution: since my wife has her own income, she nows has her own checking account. if she makes a mistake, she pays the price. Works really good.
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I agree with John. Get her, her own checking account. But I would do this even if she does not work out of the home. Or just go with cash for spending and the checking for bills only.
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What are the areas in which she is overspending and how negative is the effect it's having?
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Give this account to your wife. Open your own account with only you as the check signor. Put the bulk of your money in the new account. Deposit her "allowance" in her account and tell her that it is her account to deal with. Let her know if she overspends it is her problem, not yours. Suggest to her that she add overdraft protection. But, no matter what happens, don't bail her out. Let her sink or swim on her own. My wife has screwed up her credit so bad that we could not put her name on the mortgage when we bought our new house.
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I agree, I think she should have her own account, but that doesnt mean you foot the bill for everything, and she just gets to spend her money recklessly. Split the bills and then you too will have money for yourself.
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This is why I never mix money when I'm in a relationship.
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