One of the major causes of infidelity is low finance. They say love can bind a couple together but love without money for feeding and clothing, would result to quarrels, misunderstanding and infidelity in the home.
How much money is enough for running a home? I don’t think that question has an answer because every day, the prices of stuffs keep increasing even when the salary is not increasing. How would you feel if your spouse returned home with money gotten from flirting with an outsider? Let’s assume your spouse didn’t do it because she’s fallen out of love with you. She did it because you have got no job and the kids needed to be fed. I believe you wouldn’t want such to happen.
For most homes, it’s very obvious that monetary problems are one of the main reasons for conflicts between couples. A good administration of finances allows the couple to reduce economic problems, live calmer, make better decisions and be prepared to face emergencies. It is one of the simplest ways for the couple to build a better future.
In this blog, am going to share with you some tips that can help you to manage your finances as a couple, regardless of how much you earn.
1) Talk about it and reach an agreement:
There are several ways to handle money as a couple, but all of them require communication and organization. Addressing the issue of money can be difficult, since people often have different ideas on the subject. However, reaching a consensus is essential. Deciding who will keep the accounts, share personal goals and define how they will be responsible for common expenses, are some of the points that must be raised and treated in sincerity. A couple is a team; for it to work, it is essential that there are no secrets.
2) Make a budget:
The reason why most couples run out of cash is because of lack of proper budgeting skills. Setting up a budget and respecting it is crucial for financial sustenance and peace of mind. It is also a key tool for setting goals and recognizing which expenses are easier to reduce when necessary. Preparing it is simple: identify your income, then calculate all the common expenses that you must do compulsorily (such as rental payment) and all other individual expenses. Stick to the golden rule that states “A couple must spend less than they earn, in order to save.” If this does not happen, talk about what expenses you can reduce.
3) Have a savings fund for emergencies:
Although, we are often scared of emergencies, but the truth is emergencies will come sooner or later and when they do happen, they are likely to need money so you should be prepared. From every monthly income, couples should ensure to save fund for emergency. This will allow them to live with fewer worries and quickly solve any eventuality such as loss of jobs, accidents, illnesses, etc.
4) Save to meet common goals:
We often have dreams of going on vacation, buying a car, paying for our kid’s education, etc. Money for all these can be gotten from long term savings. Once you have a fund to deal with emergencies, consider having a savings fund for common goals. Specialists recommend saving at least 10% of the income every month.
5) Be patient:
Lack of patience has been the main reasons why some individuals cheat on their spouse just to get their financial needs met. As a husband, put in your best to provide for the family. As for the wives, when the man can’t afford the designers wears, be patient with him because tomorrow might be better. The woman should work to assist too.
While you expect the days of complete financial freedom, work hard as individuals and as a team. When you are tempted to cheat for money, remember that the money would be used up in few days but the damages done by the infidelity might be irreparable.