Keeping it in the family (2)

"I will pay for my own cosmetics and clothes." Zhou says. "But sometimes when they are too expensive, Tang will subsidize the expenses. We don't have much savings now, so it doesn't really need careful 'management'. As for the future, most of our money will go into housing loans. We'll use the rest of the money to buy more risk-free financial products. And if there is a suitable opportunity, I may start a small business."

Tang believes Chinese women are traditionally more frugal, while Chinese men are more extravagant.

"It seems right to let the women take charge of family finances. However, it seems women are wasting a lot more money than men do these days," he adds.

Zhu Guizhen, 55, school teacher & Yang Guangfu, 56, civil servant. Kunming, Yunnan province. Married.

Zhu remembers that they used to earn only about 100 yuan ($16) a month, so they didn't really have savings.

"Even if we decided to save it in the bank, it didn't matter whose name it was under because the savings were always less than what was needed.

"When we started to earn more, our salaries went into individual accounts. If we had spare cash we didn't need at the moment, we would save them in fixed deposits. And that were usually under my husband's name because he's the one who ran to the bank.

"It's perfectly alright for me then. I didn't think of anything like 'getting myself financially prepared for other possibilities'. My husband had a heart attack in 2009 and he has had bad health since, so he transferred all his money and the house to my name.

"People of my generation still traditionally let women take charge of the family income, but it doesn't mean women are better money managers. It's just a sign of trust, I think."

Her husband, Yang, is more philosophical.

"You shouldn't care too much about whose money it is. That's what family is all about. It's probably a modern trend for couples to manage incomes individually. That's acceptable as long as it doesn't damage their relationship."

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