How should we manage my paycheck between wife and I?

Hello,
I make 50K a year, we have two kids, one in kindergarten and the little one at home. My wife stays home babysitting the little one and go pick up the older from kindergarten around 2pm. I pay all the bills. She has an internet business but there is no much income from there. Right now I can save $500/month for the rainy days and 50$/month for my daughter college fund. My wife told me she would like some personal money to buy her own stuff, how can we do that and what would be a fair amount?

We have a joint account that is being used for her bills and house bills. She tells me how much we need and that's how much i put in. But she want some extra for her own stuff.

Sit down with her to make a budget but continue to set aside funds for a rainy day.

If her internet business is costing more to run than she is making, shut it down unless you're claiming a loss. Still, why claim a loss when you can lose nothing.

You might be able to find money in other areas, such as reducing the cable bill, fewer magazine subscriptions, etc. The library has books, magazines and dvds that you can borrow.

Work with her the budget but keep savings. Its better to have money in the bank than buying stuff that may not be needed.

Dont give her any,, if she is asking for some obviously you are managing it right.

Does she not have access to the money? That's scary. You guys need to sit down together, go over the entire financial big picture and let her figure out how much she wants. She should get whatever both of you together decide.

P.S. Why are you doing all the book work? Let her pay the bills for a few months. It's not fair to hold the purse strings tightly unless you have reason to believe she is not trustworthy.

Since she is taking care of the kids and doing the house work while you are at work, she should be given an amount that both of you agree on. It will work out much better that way instead of her just increasing the amount you give her for the bills. She will appreciate you being considered of her need to have some personal money.

When you say "I make 50K a year..." you make it very clear that you guys probably need some serious counselling if you want to still be married when your kids graduate. The money you earn ALL belongs in a joint account you have equal access to, any time a couple has "his money" and "her money" they are dooming themselves to eventual financial troubles.

You may be surprised to hear that arguments about money break up more marriages than extra-marital affairs! Your wife should get "money to buy her own stuff" from the same place YOU get money "to buy your own stuff"...your joint account!