I just started teaching classes with my husbands support. I already make wedding cakes but in the winter when I'm slow I wanted to teach. First of all he seemed pretty excited about this venture and totally behind me. Now he's freaking out at how much supplies cost. He was already hard to communicate with before but now he has gone banannas! I already have 4 classes booked for Feb. and now I need to purchase all the stuff. He gets an idea in his head how much things will cost and if I go over he gets upset. I won't get paid untill the day of the classes so we have to use our own money to invest in this. We totally have the funds to cover everything I don't know why he lets himself get so mad. I want to just do my thing and not even envolve him but he has the check book credit cards everything! I want to just keep the profits and just keep it all to myself. How do I get him out of this nicely. Does anyone else out there have a controlling husband when it comes to money?
I do all of the finances for our family, but my suggestion to you is to open up your own checking account to use for your cake classes. I wouldn't keep it a secret, just tell him that you would like to have control over this aspect of your finances which might alleviate some of his stress. Maybe he doesn't realize the profit that you will make in the end, all he sees is the money going out right now. Hope that helps, sorry you are so stressed about this.
I have all my cake business seperate from personal finances. No one has access to them but me and that's the way it's going to stay!
MnSnow...WE HAVE THE SAME B-DAY!!
to buttercreammgt - I use to have a hubby very similar to the scenario you speak of. Although I only know this small snipit you have shared, let me tell you from experience, if you don't separate your finances NOW you may end up regretting it. I won't go into all the sorted details of my experience, just know that I wish I would have never allowed my now ex-husband to have any access to any of my business accounts. I had my cake biz account, my dance studio account, and my dance team special account which was a designate funds account (every penny in was designated for a particular expense - no profit, the money went in the money went back out) He was a signer on all 3. I ended up loosing everything to his greed and controlling nature. If your mate doesn't want you having your own stuff and your own financial freedom, you could be in for trouble...I'm not saying you will or this is your case...your hubby might be very okay with you having your own account without him, but don't think that because he is your husband that things will be okay either. Just keep your radar up especially if he shoots down the separate account issue.
are you teaching wilton classes?? wmi get a discount and free stuff at training sessions, so dont feel you have to rush out to buy it all now. plus if you have taken the classes then you probably have most the stuff you need. But remember its all an investment and you wont need to replace the supplies for a long time, so the expense will go down. i also agree witht he others to set up your own account so you can use your cake money to buy the cake things you need. I did this and after 5 yrs i had enough saved to pay outright to get my garage converted to a commercial kitchen.
Keep it separate and if it's none of his business, then he can keep his nose out of your business. Your standard reply to any inquiries is, "It's not affecting the household monies so don't worry about it."
If he is against a separate account for your business that doesnt' include him, then you have bigger problems than just money-in-money-out things.
By all means, get a separate account. It makes things easier on you and it makes taxes easier to account for. Anything you read will say to get a separate account.
Get some reliable business info and highlight the part that says "set up a business bank account" and tell him you are being professional in your job.