Managing Money and Marriage

by Veena Kumari, 20th August 2015

Marriages are said to be made in heaven. Everybody at some stage fantasizes about their wedding and has made plans in their head for the big day. But little do we think about the life that comes after the festive day!

For a marriage to remain successful life should continue to be fun and crazy for both the husband and wife. They should always feel fresh and young even after decades. This can be achieved by adjusting, sharing, team work and love. Happy marriages are the outcome of these factors mixed in the right proportion.

As 21st century couples, we are very much exposed to the modern lifestyle and aspire to improve our standard of living. With goals that need determination and practicality, there are some measures to be considered and discussed by the newly wed couples to lead a great life. One such major topic is regarding the financial stability of the family and how they are going to manage their savings and expenditure.

Just as the title goes, the bonding between marriages and money is like the present day couples, only if they go well together, happiness prevails. Adjusting and making your way out of the fuss created by this combo is a huge task which is inescapable. But do not panic! We are here to help you handle the financial crisis that occurs due to the newly formed relationship with some tips and tricks! Great, isn't it?

Our first tip for a successful marriage with respect to monetary needs is the capability to understand that money is one of the major attributes of life that is calculable. With love, space, affection, care and other emotions involved in relationships, money is one trait that speaks openly. If we comprehend this thought, we can easily settle the disputes revolving around it.

Our second tip for a happy married life is that relationships should be demarcated clearly and communally. It shouldn't be just you being the boss and the other following your orders. When it comes to money, this definitely shouldn't be the case. After all, it is a team of two and equal level participation is anticipated. Always review from time to time about the plans set and make sure that the both of you are comfortable with it. No single man is perfect and as time changes, so will their preferences. It is always good to sit and talk about the needs and priorities of the individual and the family regularly.

Our third tip is the most important one, not only for married couples but for every living soul on earth. Be discrete and maintain your individuality. Have a share of income that is solely yours. The percentage of share is your call, but having some specific money for your personal needs is a must. Be it any denomination from Rs.5000 to Rs.500000, everyone ought to have some monetary space. This is a symbol of your capacity to stay on your own feet even when hardships hit you really bad. It is a way of holding on a relationship without losing oneself into it. But, always make sure that your contribution to the growth of the family is also substantial and a balance is struck. You shouldn't be too ambitious with your personal bank balance and neglect contribution to the family becomes insignificant and results in the toppling of it.

Our next enlightening thought is that you ought to share with your spouse. Not just money, but details of plans on how you intend to spend the money. It is always a healthy habit to speak freely with your counterpart so that things are clear between the both of you and you will feel actively involved in all the major decisions taken with regards to the family. If you are planning to make a big leap or stay quiet in the near future, make sure your partner knows about it. Most misunderstandings and conflicts occur due to the feel of being left out in the family decisions. Make sure you do not make that mistake! Sharing is the best way to keep the marital life up and high.

Our next suggestion would be to maintain realistic commitments and goals. We all accept that only if we aim high, we will be able to achieve a fraction of it. But that aim should also be practical. You cannot aim to have a house in a posh locality if you monthly salary is just Rs.20000. Always have dreams and visions that are achievable in the future and work hard for it. Every tale is not a fairy tale for godmothers to come and make you rich for generations to come! So think wisely before you plan your steps of growth and make sure you attain them! Disappointments lead to heartbreaks which can cause cracks in your wedded lifespan.

The next tip on the list is to regularly check your spending habits. If you tend to overspend or are too thrifty, things are not going to be easy for you! Make sure you spend at the right frequency so that the equilibrium is met. Creating realistic budgets is the trick and is a particular art that everyone must learn. Improper planning can create a lot of emotional problems that can outburst as something more severe.

Another crucial factor that you must decide in your life is how far you are ready to sacrifice your life for money. Just because you love your better half and you would want to give him/her an awesome life, are you ready to spend some 50-60 hours at office? Do you want to spend more time with computers and machines rather than your family? Is money going to bring in that happiness you are missing? Make sure you give honest answers to such questions before deciding on the level of nuptial sacrifice you are ready to make. Money is important, but families are more important! You are a vital part of the family whose presence is needed and not an ATM machine!

Now, many of them will have this query nudging their mind; what if the mistake is done and the effects are getting visible. Talk. Opening up and pouring out your emotions and distress has always been a good option to get solutions. It has always been the two of you in the game together and should continue the same way! There is nothing wrong or inferior in discussing with your partner and financial focuses is a must topic to debate upon! Fight; get into misunderstanding to attain a greater understanding!

Educating oneself on the various topics of life and livelihood is a key factor for marriages to prosper. Learning is a constant activity and you should always be open-minded to acquire knowledge from any source. Your partner can be great at something or can have deep knowledge on some subject that you may not be familiar with. If you happen to know something good and worthy, they always feel free to share it with your soul mate. You are a team and the team gets stronger only with combined knowledge that is mutually shared. Knowledge is more powerful than money and never should you try to subdue it with your monetary power. Learn and share should be a motto of every individual's life.

Having joint bank accounts can be a nice step in handling financial crisis together. The share each one contributes towards the family can be added to this special account so that the expenditures and savings are mutually known. Maintenance of the budget is also easy since only account is involved and debits and credits are recorded only with respect to that account. Along with this joint account, a separate account for the deposition of the discretionary money for your self-sustenance is important too! Maintain a balance in the accounts so that the balance in the family level is also upheld.

Money alone does not make life. Life is a combination of people, money, respect, individuality and harmony. With just money, your life is only 20% complete. The right people, sufficient money, respect and coordination with a tinge of self-love makes life perfect! Aim for that life for that brings real happiness and nothing else.