Significance of Financial Statements?

[hubby]

Both my spouse and I have elected to forego filing 'Financial Statements' for simplicity sake.

However, I'm beginning to wonder, is there a significant reason for doing so --filing of a financial statement?

I've done some basic budgetting for both our households and it don't look pretty. She may end up with enough to run a household with some change to spare and I would see myself in the 'red' every month.

What good can come of the financial statements -- can they be used to prove undue hardship or that one household better off than the other?

You know the saying to pick your battles, well, is this one worth the pursuit?

Hubby