# Finances when spouse is laid off with severance package



## tukkapono (Aug 30, 2012)

My wife was laid off with a $10K + 1.5 weeks vacation pay severance package, June 30 being her last day. She had no debt, and had a good amount of savings.

I told her I thought it was more than fair that I'll cover all her expenses once the $10K runs out. She prefers that I cover all her expenses after 3 months.

We make about the same amount of money.

I already pay all the housing (association fees) and utility costs, she generally pays for the groceries, which isn't balanced, but that's another story, though that imbalance has prevented me from putting more money into my retirement account.

It's not a matter of splitting down the middle for us, but I feel there should be some balance while we're both career-oriented adults with no kids.

What's fair?


----------



## PBear (Nov 16, 2010)

Sorry, man... My wife and I, even before the kids were born, never had "his" and "hers" money or bills. And with a potential money crunch coming up, my personal priority would be just ensuring the bills get paid, regardless of whose account they come out of. 

But that's probably me personally...

C


----------



## captainstormy (Jun 15, 2012)

I gotta agree. I don't understand the his/her money thing. 

We each put 75% of our checks into a joint account. Which we use to pay all of our bills and expenses and build a savings.

The other 25% is his/hers I suppose. But its play money. To buy toys and have a good time on the town with.


----------



## tukkapono (Aug 30, 2012)

Well, I guess I should have prefaced by saying that I prefer having a joint account, but then she'd have to contribute more than she already was. We just track joint expenses otherwise, which I pay twice as much of, regardless if she's making more than I. She's more of a traditionalist in that the man should support the family financially, which for me should be more equal and based on what someone's making.

I guess the answer is to just get a joint account. I like the fixed percentage. Though, she would never contribute 75% of her severance, which brings us back to square one.


----------



## costa200 (Jun 27, 2012)

Personally i think this my money/your money tends to create tension and breaks the relationship's solidarity. But since you have this model i think you should take steps to support your wife so that she doesn't feel economically "single". That feeling may spill to other situations and that's not good.


----------



## richie33 (Jul 20, 2012)

Help her out while she is out of work. Once she gets back to work switch the arrangement around, have her pay the mortgage and pay all the utilities.You take care of the groceries and build up your savings again and contribute more to your retirement. Sounds fair to me.
_Posted via Mobile Device_


----------



## rj700 (Jun 22, 2012)

tukkapono said:


> Well, I guess I should have prefaced by saying that I prefer having a joint account, but then she'd have to contribute more than she already was. We just track joint expenses otherwise, which I pay twice as much of, regardless if she's making more than I. *She's more of a traditionalist in that the man should support the family financially,* which for me should be more equal and based on what someone's making.
> 
> I guess the answer is to just get a joint account. I like the fixed percentage. Though, she would never contribute 75% of her severance, which brings us back to square one.


Based on that _traditional_ thinking, she shouldn't be working at all. So what's yours is for the family and what's hers is hers? I agree with the others that it is a partnership, not a limited liability corporation.


----------

