Many studies have shown that money is the root cause of most of the marriage turmoil’s for example Divorces, separation and marital misunderstanding caused by either the abundance or the scarcity of money. Though love cannot be bought by money it’s a sure bet that it can actually complicate it.
Lack of clear and constructive conversations about it are
the main reasons for both small and big fights. Money carries emotions, when
you don’t have money one feels insecure unsettled but when you are expecting or
have money in the Bank, one feels safe .When one gets money those emotions are
evoked and the true characters now comes in.
When you start having more money one becomes insecure of the
surrounding leading him/her to look for safety if it’s a man he tends to think
the woman was submissive to him because he
gives her or even earns more money hence leading to infidelity.
Transparency is the key, spouses should know how much the
other partner earns. You don’t have to know exactly each and every coin made and
spent. This because one has some personal bills. For example the woman does not
have to disclose how much she spent in girls meet ups .The same case applies to
the man he does not have to report to you that he met the boys and did coffee,
footed all the bills. Honesty and openness acts as a best policy. This comes in
handy in times of financial crisis
Respect and discipline matters. Its high time men accept
girls empowerment, lets them appreciate when their wives earn more in fact they
can even be a fall back plan in case one
loses his income. At the back of your mind, know that you are together in this
and it is not a competition. Provision can come from either side wife or husband.
A wife may be good at making money but be a very poor manager. On the other side,
the husband can be a wonderful manager and a great decision maker hence
complimenting one another.
God is a master planner and a great match maker. For men do
everything possible to empower your wives, pay for that course, help her start
a new business, coach and train her on how you do that business successfully
because of continuity in case the unfortunate happens. Succession planning is
key to achieving a long term legacy in a family business among other things defining when the family
members may work in the business, how profits
should be distributed, who may serve on the board and other matters such
as taxes, liability and estate planning.
For a family run business, this is not an easy process
unless the family had developed a committed vision, mission for its future protect your company, business, and other assets put a clear strategies in
place for its future.
It is important to set ground rules as a couple on budgeting,
saving, spending and investing; we cannot ignore the personality differences
effect on the couple managed finances. People look at money differently according
to their personality and environmental background and what they have been
exposed to. Somebody could be a spender the other one is a saver and cautious.
Then the investors who always want to plough the money back to the business.
Other are areas of convergences and balance.
Life is about balance and one should be placed in his/her
area of strength to manage expectations and differences. It’s important to look
at what the other person is bringing on board .The oneness means a lot in this
matter and safeguards the partners interest making major decisions on your own
can land the deal in great trouble. Cooperation and collaboration rather than
competition will help in realization of goals and objectives. Goals should be aligned
plan about money even when it is not there.
Money to spend should be spent wisely .Couples should
capture their incomes and expenditures list them one by one. Allocate savings
in the beginning stage of budgeting and not what remains from expenditure. Are
you spending more than income at the end of the day you get either a surplus or
a deficit .You should balance between needs and wants? Are you spending a lot
of money on wants?
For women if you earn more than your husband maintain
respect and submit to him. Sit on that throne well as a wife, mother, and
sister friend and an employer.
It is never too late to make good choices. You can never
make a positive progress with a negative attitude and no one can choose for you
unless you let them. Don't let the past immobilize you. Learn from the bad
choices and move on.
Make that right decision today, as a couple and your financial
life will never be the same again. It is forward and upwards only.
See you on the next blog.
