Michelle and Freddie 3 March 2012
To get a marriage off to a solid start, it is best to discuss the matter of finances or money candidly from the start. Here are some time-tested tips for the newlyweds:1. Communicate with each other: This is the key to a healthy financial relationship. Without open discussions, small differences over the management of the household finances and budget can turn into big issues.
2. Respect for each other: Respect the feelings or outlook of your partner on money. Accepting different opinions and outlooks is the first step towards finding common ground.
3. Shop together: Do not burden one partner alone with the shopping. Make it an outing and by doing this both partners will know and see the prices of commodities. Ignorance of prices and price hikes may create false expectations.
4. Be informed: Sit down regularly and exchange facts on the household budget status and other financial issues. Jointly go through the monthly bills and review it.
5. Work according to a budget: Together prepare a budget and treat it, as is your guide to help you achieve your financial goals. Once there is consensus over the budget, adhere to it strictly. When necessary to deviate from it, make it a joint decision.
6. Pocket money: In addition to the normal household budgetary items (food, mortgage bonds, transport, etc.) also allow each partner the freedom of having pocket money out of the budget to spend as they wish.
7. One step a time: Tackle one financial issue at a time. Do not try to establish a budget and then in the same breath make investment decisions all at once.
8. Equality and diversity: Recognise the role of the breadwinners but also those who do unpaid work - a husband studying full time or a wife looking after the kids at home should feel that their contributions to the marriage per se is equal important.
Remember, money cannot buy happiness. To feel free, secure, loving and in charge requires emotional maturity and not cash in the bank.
Danie
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Reference: aisha-vip.blogspot.com
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