Experts offer three basic models for constructing a family budget. There are: independent, joint and combined model.
Independent Budget.
Each member of the family manages earned money at his own discretion. This model is suitable for those who have roughly equal earnings, appreciates the independence or just starting a family life.
When it comes to pay the total costs, each member of the family gives some amount of money on those needs. But this usually happens situational, and often the total cost borne by the spouse who has money at the time. But here can happen some resentments and misunderstandings between the spouses.

So, what to do? First of all, the spouses should sit down and discuss the problem. They need to calculate the amount of their monthly expenses and divide it in half. Also, it should be done with large common purchases. And no matter that pays that spouse, who has the money right now. But now there is a debt for the other spouse who has to pay it out when he will have money.

Joint Budget.
At the model of joint model of the budget it assumes that family members form a “common pot”. But if one of the spouse’s income will increase considerably, then it is recommended for him to take most of the costs. That, who earns more, must give more money on common expenses and put more money in the family budget. Otherwise, there can be conflicts in the family. That’s why this model will suit to the families, where income of the spouses is the same.

Combined Budget.
Such a scheme of constructing the type of the family budget is most attractive to most young families. It’s very simple – all income received goes in the total purse, and then family members determine how to spend it. But it is important that at such a model, the family members have their own free money. It can be spent on the formation of the reserve fund or investment. This approach is more productive than creating a family budget based on needs rather than opportunities of the family.
But the combined type of the family budget has its drawbacks. If a spouse, for example, finds out that his partner is hiding money in a “stash”, he gets very upset.

Experts advise to put to the budget the item of expenses for personal needs of the each member of the family. It is an amount, which will dispose to the sole discretion of the spouses. Ideally, personal expenses should not exceed 20% -30% of the family budget.
If you do everything according to the experts’ advice, you will have no problems in the financial life of your family and the use of the chosen type of the family budget will be effective.

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