Looking for some views on finances.
I was tidying earlier and saw a letter from my CC lender. Read it and realised it was actually addressed to my husband, not me. However, I read that his CC is about to expire and due to a number of circumstances, they won’t be replacing it.
Ive asked him about it, and he isn’t giving me lots of information. He is notoriously difficult when we discuss finances. He hates talking money. When we first met, he had bad credit, multiple credit cards etc. He cleared it all 20+ years ago, and we’ve had several mortgages since with no issues. However, he still isn’t great with money. He has assured me that he is paying it off monthly, but with the interest it isn’t moving quickly. He doesn’t have anything to show for what’s on it (“a couple of grand”) and says it’s a good thing that they aren’t replacing it.
I am the breadwinner in the house, and earn double what he does. However, due to his lack of ability to manage money, each month he transfers money to me and I pay all of the bills (50/50 split). I’ve noticed that he has got later and later to transfer money though in the month. This has been how we’ve done it for 20 years, but my salary has grown over that period at a far faster rate than his. We over pay on our mortgage, and I have savings in various places. He has no savings.
I currently pay for significantly more of any house stuff/holidays/kids clothes/kids clubs&activities. Probs 80/20 if not more. It’s just the set bills that are spilt down the middle.
Im now wondering if there is a better and fairer way of doing things. We both work hard, we probably do the same hours during the week. However, I am far better with managing money and would struggle to put it all into a joint pot to see him fritter it away when I would prefer it goes to savings.
How do others do it? And how do I get him to see that talking about finances is a healthy thing to do? I told him tonight that his vagueness of everything to do with money makes me uncomfortable.