Naira-notes-2

FINANCES: THIS RESPONSIBILITY SHOULDN’T FALL ON ONE PERSON

How do you feel about financial responsibility? Is it something you would rather handle yourself or share with your partner? A lot of people have their opinions about this, making this issue sometimes a touchy subject in the home. Personally, I feel there should always be transparency especially financially between couples. Handling the finances together creates the atmosphere for this and these reasons gotten from an article from madamenoire.com further proves my point.

Here goes:

Understanding why the other is stressed

If there are money problems or things are tight, it’s important for both people to be aware of that. If only one is, then it creates a dynamic in which the other thinks that the person in charge of the money is worrying for nothing or just being cranky. If you are both aware of the finances, then you understand one another’s concerns more deeply.

Monitoring investments

Hey, if that money belongs to both of you, then you should each have some say in how you’re investing it. Each individual should pay attention to the particular accounts they invest money in, to see how they’re doing, and if they’re putting their money to use in the best way.

Making more frugal decisions

When you actually see how quickly money goes out, you’re so much more conscious of your spending. Even if you think you already are a frugal individual, if you really watch how rapidly a thousand dollars goes out the window each month, you may realize there are even more areas in which you could cut back.

Being aware of utility use

Ah utility use: it’s a relationship argument as old as…electricity. “You left the AC on all day” and “You left the lights on when we went on vacation.” If you’re the one always getting in trouble for this, it may help to just take a peek at the utility bills.

Appreciating each other’s contributions

It can be nice to feel appreciated—to have your partner understand how far your financial contributions to the household go, and visa versa. The only way you can both know that is if you both have a keen understanding of how much things cost.

Knowing what you can say yes to

You don’t want to fall into a situation where, you say yes to a couples vacation with friends, or to buy a package of tickets to a fundraiser, all so your partner has to tell you, “Go back and tell them no—we can’t afford that.”

Looking for investment opportunities

You should both be on the lookout for opportunities to let your money go further. You’ll need to know how much you have, and whether or not it’s already tied up in other investments, to do that.

One alone isn’t the nay-sayer

It’s unfair when one person has to be the nay-sayer, always telling the other one that they can’t buy this or that. If you both know what you have and what you can afford, then you won’t even ask to have things you can’t afford in the first place.

And one alone isn’t the nagger

It also isn’t fair if one person feels like she constantly has to nag the other about being able to buy things. You don’t want to feel like you’re annoying your partner, each time you want to invest in or purchase something. So look at the finances, see what you can afford, and be a part of those decisions.

I hope these reasons give you a push towards having financial health in your home.

PHOTO CREDIT: newswirelawandevents.com




There are no comments

Add yours