Finances play a very important part in every family circle. Getting your priorities right from the start is essential. Work out a system of budgeting, and many of your problems are over before they even start. It is incredible what the average family can achieve when systematic attention to finances is taken into account. In this regard, wives can often play a major part. Husbands should never underestimate the value of a mentally acute wife when it comes to money. They can often be brilliant.
What about finances in marriage?
Take my tip. Get your finances off to a good, clearly understood start. In this way you will avoid misunderstanding and unhappiness in the long run.
Money matters commonly cause disagreements and fights. These often loom large in marital rifts and divorces. It is not hard to come to a firm understanding on the financial situation, and the sooner this is done the better. The most sensible approach is to sit down together and work out a method that suits you both.
As a starting-point, it can be a worthwhile exercise drawing up two columns. In one you simply state your income (or what is left after tax is removed). If both are working, total this and you will then see what sort of money you are thinking about in annual terms.
Then, on the other side, set down the items that have to be paid for. Put down the fixed expenses, such as rent (or home repayments if you are buying your home), electricity, council and water rates (these are applicable if you are buying your home, but not if renting), car (include depreciation, and running), items that are on time-payment.
Add all these up and see what is left. Now, you have to live, so “x” dollars must go into “housekeeping,” and another “x” into clothing. Housekeeping tends to be pretty well fixed after you have settled down into a routine. The clothing factor is a variable, and apart from certain essentials, can be varied considerably.
Now, after totting all this up, you will find that you have either a deficit or a credit. I hope it is the latter, for living on the breadline is no joke.
However, it is the “what’s left” bit that is important, for it will often make the difference between living “comfortably” as they say, or living a more stringent sort of life. It depends on how these figures add up as to what your financial future is destined to be like.
Once you have a general idea of what to expect, you can then start to do a bit of extra figuring. Today, many couples still yearn to own their own home. “It is the birthright of every Australian [New Zealander, American, Briton, etc., etc.] to own his own home, “the politicians glibly say, at the same time watching salaries soar and taxation rocketing to even greater heights, leaving a take-home pay-packet with a greatly reduced buying power.
*18/76/5*
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