10 Important lessons on Money and Marriage from real couples who have been married for years
posted on Jul 18, 2019 | 401 likes
Take these money lessons and make your home sweet as honey
Money and Marriage is a very sensitive topic, we never seem to be able to exhaust it.
Which is why we’re always on the lookout for new tips and advice that might help your relationship overcome the next financial turbulence that might arise.
We asked married members of our team as well as other seasoned married people – for financial advice for couples.
Here is what they said;
1. Don’t try to change the other person
People hardly – if ever, change. You’ll only be causing more bruises on your relationship if you are continuously forcing a sharp hot iron-rod down the throat of your spouse by telling them to change certain things which they have probably done all their life.
Look for walk-arounds instead, and things will blend naturally.
2. Understand one another’s money mindset
Both of you have different backgrounds, love different things, so you’ll most probably have different mindsets about money.
Know where each of you fall in on the spend-save quadrant and leverage that information to make informed financial decisions that would benefit both of you.
3. Talk about money
A lot of couples hardly talk about money except when they are having a money related misunderstanding. It shouldn’t be so.
Talk about money often. It should be a routine part of your relationship, and not a point of pride for one person.
4. Make sure both of you know the important stuff
You should have a consensus on the things that matter in your home. Share the daily and monthly essentials between both of you, each person can choose when and where they come in, this can be done bearing in mind the amount and the time when each person earns.
5. Make big financial decisions together
Consider financial decision making a team task. Be equal partners in all major financial decisions.
6. Do not hide your spending from your spouse
Don’t make the mistake of trying to hide your spending (large or small). They’ll find out eventually. Then you lose trust and it takes time to earn it back.
7. Both of you should have the Money fundamentals covered
It is important to understand the money fundamentals and have it covered by both of you. Know simple money ideologies like spending less than you earn, always keeping some money in reserve, and paying your bills when due.
8. Talk openly with each other about where you’re starting out from financially
Be very open with each other on what you have and the debts you owe. A suitable phrase is being “financially naked”.
9. Find a financial division of labor that feels right to you both
Don’t assume that the person with the highest degree or qualification would be the best in practice. Know what your spouse is good at and accord them that role.
10. Lean on each other when time gets tough
This is probably where you should pay the most attention, supporting each other should be at the center of your relationship.
If you find out your spouse has a debt, figure out how to pay it together, remember the relationship is sweet when both parties are happy.
Through all the advice we received from experienced married people, one message is uniform; “In any thing you do, get the advice of a financial partner.”
Getting a financial service provider to speak with you and your partner is a great way to set yourself up for success.
It means both of you listen to the same source and often time will begin to think alike in terms of finance.
Good news is, you can speak with financial service experts from Page Financials for Free.
All you have to do is call 016317234 or send an email to email@example.com
You can ask questions relating to loans, investments, and generally on any thing that could make your finances and financial relationship rock solid.