Financial issues are a bone of contention in many marriages.
Learning expert,Jim Kwik, said, “knowledge is power,you heard it all the time. But knowledge is not power,It’s only potential power. It only becomes power when we apply it and use it.
Somebody who reads a book and doesn’t apply it, they’re at no advantage over someone who’s illiterate.
None of it works unless you work. We have to do our part. If knowing is half the battle, action is the second half of the battle.”
The way funds are appropriated in a marriage is an issue that should be given serious attention and resolve before tying the knot so as to avoid bitter arguments and quarrels in the home. Some of the issues that should be addressed are:
- Am I extravagant,thrifty,or stingy?
If your spending habits do not appeal to your partner,there will be disagreements. Money matters are often a very critical areas of friction in a marriage.
Consider your partner’s spending habit and check if you can cope with it. If you are thrifty and your partner is extravagant,it is best to have a discussion so that both parties are happy with the outcome of events in the long run.
- Do I have a job that takes care of my bills?
The most important question is: Do you have a job? If yes,does it take care of your own bill’s and expenses? If not,it will be a good idea if you do not contemplate marriage at this stage.
Marriage entails considering another person’s responsibility to yours.Unless your partner is financially strong and neither of you is bothered about that situation,then you can accept the situation on ground.
- Are we going to have a joint account?
How does your intended spouse think about expenditure?Are you going to have separate accounts,or a joint account? Who controls finance and budgeting in the home? These are issues that should not be taken for granted. A joint account is a good idea but it is still advisable to maintain separate accounts so that no one feels monitored.
- Who will control the family budget?
It is important that you resolve who decides what money should be spent on and how much should be spent on different items. Disagreements do not portend well for the marriage.
Most times,the woman is the one in charge of the family budget as she is considered to be a wise spender. But sometimes,this may not be true as some women can be extravagant in handling financial decisions in the family. It is best to discuss this.
- Are we going to share expenditure?
You have to decide how the funding of the family budget should be done. Is the woman going to be responsible for particular expenditures while the man handle other areas? Will the man be the sole provider,or will you interchange roles? Ensure you both reach an agreement.
- Do I know how much my partner earns?
Is he or she open or secretive about his or her earnings? A person who will not disclose his or her salary to you may not be a open person. Besides,it is better that you know so as to help you decide if your partner is financially mature enough to contemplate marriage.
- Does my intended spouse earn more than I do?
If your intended wife earn more than you do,would you still feel comfortable or adequate as a man? If this harm your self-esteem or burst your ego,it is advisable that you do not proceed any further. You are only going to feel marginalized in the marriage. In a bid to fight your real or imagined situation,you may end up being frustratingly irritable and this is not healthy for a marriage.
You may think of looking for other options to increase your financial capacity so that both of you will feel secured and happy.
- Will one of us be dependent on the other?
You have to discuss this and ensure that the sole provider is willing and able to take care of the needs of the other partner with a smile.
But in this present age,it is not advisable to have a marriage where only one person is the sole provider.
Be that as it may,it is very important to think about the future when it comes to financial decisions in marriage. What if the person you have always depended upon financially dies,or perhaps,he does not have a back up plan for any unforeseen contingencies? You may need to reconsider your option.
- Is he fussy about financial accountability?
Does the man you intend to marry always make a fuss about bills,receipts,and prices of things you spend his money on? For budgeting purposes,it is a good thing for accurate accounts to be kept for expenditures. But the danger with this kind of person is that he may be suspicious even of his own shadow.Suspicion is not healthy for any marriage.
- Is my partner overly money-conscious?
If the person you intend to marry is overly money-conscious,he or she is likely to be insensitive to the more delicate things in life.
- How much should go to savings?
Some people have difficulties in their marriages because their partners consider a certain degree of wealth to be ungodly.As unusual as such perception may seem,it could be a source of dissatisfaction in a marriage. It is wise to sort out your differences in this regard before getting married.
Which part of the monthly income should be used for expenditure and how much should be saved is an issue which should not be overlooked. Sometimes,this could lead to misunderstanding. The percentage that should be spent on relatives should be agreed upon,as this could cause unnecessary envy and resentment. You can avert such problems by discussing before marriage.
- Do I consider a certain degree of wealth ungodly?
Ordinarily,a loan should not be an issue but when you have differing opinions about it,it could result in conflict. Some people do not subscribe to taking loans for any reason,while others would not seek loans from particular people or institutions.
Disagreement about what could be considered a wise investment could cause unnecessary squabbles if not discussed before marriage.To know what your intended’s ideas about investment are,you need to talk about it often.
- Do I make a point of paying back borrowed money?
Sometimes problems can be avoided completely if you understand each other’s attitudes towards issues. If you are the type of person who will pay back money loaned to you only when it is convenient, you may have problems if you get married to someone who does not share your opinion. Simple as it may seem,if this issue is not resolved before marriage,it could be the root of serious problems.