11–20 of 33 posts
Must not be Asian. My friends give their wives all their money.
They must be very trusting (or have typically financially literate wives). If I were to do this, it'd confirm the worst: I'd gone insane.. :-)
I don't know what you mean by financially literate, but they don't have to know much about investments or interest rates. Their job is to set a budget and stick to it every month. Most people will avoid getting deep into debt except for large purchases such as a house or a car, and savings account's interest rates are practically 0%. So being good at managing a budget is nearly all that matters.
This seems foolish from a purely financial standpoint. Often times interest rates are tiered and you can get significantly higher rates with the more money you have in a single account. They should combine them. They could keep pretending they have separate accounts and just write checks for what they owe, just have it come out of a single savings account.
As I understood it, his 'separate accounts' just means they keep separate 'books', so to speak. I have 'separate accounts' from my business partners, but when I see an opportunity for which I need more cash than I have (or that is more profitable for higher amounts), I can still team up with them for mutual benefit.
Earlier quoted context omitted.
They must be very trusting (or have typically financially literate wives). If I were to do this, it'd confirm the worst: I'd gone insane.. :-)
In Japan that's the default. Wife takes care of the budget and gives a monthly "allowance" to the husband. I don't know what you mean by financially literate, but they don't have to know much about investments or interest rates. Their job is to set a budget and stick to it every month. Most people will avoid getting deep into debt except for large purchases such as a house or a car, and savings account's interest rat…
But he is dependent on her household management to such a degree that one of the main causes for homelessness is men being abandoned by their wifes in late years when the kids have flown out. He is unable to even cook rice, let alone pay the electrical bill or rent. So he ends up in the street, sometimes with his employment intact.
Suffice to say, this is not true for all men, but common enough to be a known order of events.
In my house, I do most of the cooking, the dishes and the laundry. (The latter is because, being one of these work-at-home laptop-bound types, I'm at home a lot.) My girlfriend tends to vacuum and tidy more. But none of this is because we've established an internal market in our home and relationship. Between the two of us, we do what's right for each other, and it just works out.
This applies just as well to startup co-founders as it does to marriages. You want to find someone whose best interests you want to act in, and who will act in yours. Life's too short to be negotiating about who's going to wash the dishes, or who's going to pick up the mail. When you're emotionally invested in a person, an organization, a project or a cause, you'll do the right thing for it. And that's the kind of person you want to be in any kind of relationship with.
This seems foolish from a purely financial standpoint. Often times interest rates are tiered and you can get significantly higher rates with the more money you have in a single account. They should combine them. They could keep pretending they have separate accounts and just write checks for what they owe, just have it come out of a single savings account.
I'm guessing there aren't any substantial savings that would attract better rates in this case. He's been "deep in debt" and has a blog post about how he's spending a third of his income on his car.. (another post last year suggests it'll take "years" for him to pay off his debts)
So I've no idea what state his finances are in now, but it doesn't sound to me like he's desperately short of money.
(I had a quick look at other stuff on his blog, and I'd guess he has at least a few tens of thousands of dollars in cash. There's a post from April 2008 saying that he's got $5k in his "emergency fund" and aims to make it $10k by the end of that year, for instance.)
Must not be Asian. My friends give their wives all their money.
Isn't this how things are done in a normal relation? I mean not necessarily giving the money to your wife, but having both yours and your wife's money in the same pool.
Earlier quoted context omitted.
In Japan that's the default. Wife takes care of the budget and gives a monthly "allowance" to the husband. I don't know what you mean by financially literate, but they don't have to know much about investments or interest rates. Their job is to set a budget and stick to it every month. Most people will avoid getting deep into debt except for large purchases such as a house or a car, and savings account's interest rat…
There's even more to that story. It's true that the wife takes care of the salary and gives a monthly allowance to the husband. But whenever he files expense reports to his employer, he is reimbursed to a separate account that only he has access to and his wife has no insight into. But he is dependent on her household management to such a degree that one of the main causes for homelessness is men being abandoned by t…
Lol, what? I can't tell if you're serious. Just because men depend on women for budgeting and house chores doesn't mean that they have to be homeless after a separation.
Earlier quoted context omitted.
There's even more to that story. It's true that the wife takes care of the salary and gives a monthly allowance to the husband. But whenever he files expense reports to his employer, he is reimbursed to a separate account that only he has access to and his wife has no insight into. But he is dependent on her household management to such a degree that one of the main causes for homelessness is men being abandoned by t…
> He is unable to even cook rice, let alone pay the electrical bill or rent. So he ends up in the street, sometimes with his employment intact. Lol, what? I can't tell if you're serious. Just because men depend on women for budgeting and house chores doesn't mean that they have to be homeless after a separation.
Earlier quoted context omitted.
> He is unable to even cook rice, let alone pay the electrical bill or rent. So he ends up in the street, sometimes with his employment intact. Lol, what? I can't tell if you're serious. Just because men depend on women for budgeting and house chores doesn't mean that they have to be homeless after a separation.
+1 to that "LOL what?" I don't buy the whole "if you don't normally handle the house that you can't figure it out when you have to" idea. If someone can't figure that stuff out, they have bigger problems then paying the bill or rent.