From an expert: A checklist to help wives plan for the future

For husbands:

Mrs Charles Ulrick Bay, well-known New York broker, offers this advice:

  1. Teach your wife to handle the budget, write checks, plan the family spending.
  2. Prepare her for some gainful occupation.
  3. Be sure she understands the stock market and handling investments.
  4. See that she gets to know your banker, broker, insurance man, lawyer.
  5. And then — give her the tools to work with:
    • Prepare a will.
    • Make your insurance cover the home mortgage.
    • Keep some emergency money in a separate bank account for her.
    • Write her a letter instructing her what to do, what not to do.
For wives:
  1. Be sure that you know:
  2. All about your husband’s income.
  3. All about his investments.
  4. All about his debts.
  5. All about the way he handles family expenditures.
  6. All about his business enterprises.
  7. Where his will is filed.
  8. How much insurance he carries.
  9. Who will be administrator of his estate if anything happens.
  10. What the tax bite will be on his estate.

From a speech by Mrs Bay before the New England Council, at Manchester, Vermont

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About this story

Source publication: US News and World Report

Source publication date: May 16, 1958

Filed under: 1950s, Love & marriage, Money & work

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