Personal finance guru Dave Ramsey had harsh words for one married couple on how they manage their “fun money.”
A woman, who called herself Val, wrote to the financial mentor about a financial problem she had faced in her marriage.
“Dear Dave, my husband and I work outside the home and he came up with an idea to spend our money on fun,” the woman wrote in an email. shared with La Calle.
“He wants us to open an account where we both put 5 percent of our income for discretionary spending,” the woman explained.
“What worries me is that he would have a lot more to spend because he makes a lot more money than me.”
Personal finance guru Dave Ramsey had harsh words for one married couple on how they manage their “fun money.”
“He says he thinks he should be able to spend more because he earns more. I’m not a stingy person and I don’t spend money on frivolous things, but I think things would be balanced.”
He added: “I think each of us should put in the same amount of money, an amount that’s fair to both of us, if we’re going to do this. What do you think?”
The Ramsey Show host offered his practical advice to the couple, quickly refuting the husband’s calculations.
“This is not a good plan,” Ramsey wrote tersely.
“I’m sure your husband means well and is generally a nice guy, but I think he probably hasn’t thought this through,” she wrote.
‘As it stands now, the details of his idea seem rather immature and selfish. And something tells me you wouldn’t marry a man like that.
Think of it this way: There are many families where only one person works outside the home and generates real income,” the financial guru explained.
“Would it be fair to say that the person who brings home the pay is the only one who can have fun spending money from time to time? Of course not!”
“In most cases, spouses who don’t work outside the home take on tons of responsibility and accomplish multiple things every day, especially if the couple has children,” Ramsey added.
“If you put a dollar amount on all that, it would end up being a pretty good income in dollar terms.”
Ramsey then explained his underlying theory about money in marriage.
“Do you remember when you got married?” he asked the woman who wrote.
“If this were a traditional ceremony, I bet the preacher would have declared them ‘one’. As in, in every sense.”
“Marriage is not a me thing. It should always be a us thing,” Ramsey told the questioner.
“That means we have one income, one combined income, and it’s our income,” he added.
“If you own a house, it’s our house. It’s not more your house just because you make more money than me. Our kids, our marriage, it’s everything. You get the idea?”
“Marriage is not about me. It should always be about us,” she continued.
Concluding: “Your husband needs to be reminded of that.”