Finances are an incredibly important part of a marriage. In fact, a large majority of marital fights have to do with money and what it should be spent on. So who should handle the finances in a marriage? It depends on several things…
To begin with, having one person handle all of the finances is not a good idea. The better scenario is to have both spouses make the financial decisions and one person make sure those decisions are implemented. Giving all of the money responsibility to one spouse can lead to big trouble.
How? Imagine a marriage where the husband handles all financial decisions. One day they divorce and she is suddenly out on her own. She has never managed money, budgeted or written a check, and she has no concept of how much it costs to run a home. She has no idea what to do, and no one to teach her.
Here’s another example. The wife makes all of the money decisions. Her husband works and his wife is a homemaker. Everything is going smoothly until her husband gets a call at work one day, and is told his wife’s car has been repossessed. After confronting his wife, she admits she has been having trouble with the budget and was afraid to say anything. Before she knew it, the car payments were too far behind.
Sound far-fetched? It happens every day in many marriages.This is why both spouses should work together to manage their money. If not, by the time the other spouse knows there is an issue, it has already cost them money.
It’s okay to have one spouse pay the bills as long as both know where the money is going. Have you ever heard of someone having a problem with loans? Or perhaps a gambling problem? Or maybe an addiction to online shopping? A collection that has gotten out of hand? All of these situations happen and, when they do, it puts the family in a tight financial position. Sometimes, it is a position they can never get back out of without it costing them dearly.
Who handles the money in your relationship? Money is really such an important part of a marriage. Make sure you both know where the money is going and which bills are being paid.
Thinking about regaining the status of “Happily Married”? It is possible, and is not difficult if you think it is not. But exactly how you do so? Just do what we recommended and go ahead and live in an happy marriage. Finances causes a lot of fight in Nigerian homes. If you let both parties handle it, there might be a smooth relationship and financial freedom.
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