Couples Finances: Do You Splurge Like Lucy Or Save Like Ricky?

Lucy & Ricky From 'I Love Lucy'

The classic couple didn't always exemplify the best financial practices.

"Lucy! Go back to the store right now and return that dress!" When I was a kid, Ricky's post-shopping rants on I Love Lucy baffled me. Why did she buy something they couldn't afford? Why was Ricky treating her like a little girl? She always seemed to have a sneaking suspicion she was overspending but not a real handle on her family's finances. It seems so old-fashioned, but the more I speak with friends, the more I wonder if things have really changed that much on the personal finance front.

I recently met a divorced woman at a party who regaled me with stories about how her ex-husband ruined them financially and then recently stopped paying child support. "I had my head in the sand. My husband was driving a BMW and wearing expensive clothes, but meanwhile he was going bankrupt. I had no idea. Both partners have to know what's going on money-wise or you could be headed for disaster," she warned.

Who pays the bills in your house? Who makes the money? For my husband and me, the one making most of the money isn't necessarily the one dealing with the bills.

Read the rest over at Elizabeth Street: Are You Lucy Or Ricky When It Comes To Your Family's Finances?

More juicy content from Elizabeth Street: