Thursday, March 5, 2015

The Finance Manager in Your Family

Do you know that a financial management in a family can be the source of domestic disharmony?
At least i found two case in my friendship circle.

1. Working husband and wife
This first case means that they have two source of income. There is no problem at all with the condition, but how they arrange the finance is the matter. They rather to have an outcome separation than unite the income into one management. So, there is only an outcome separation. The husband responsible to pay some of the family bills, and the wife pay the rest. They don't share how much the income for each of them. 
Most of husband doesn't care about his wife income, but yes actually the wife does care. But in this first case, the wife having too much ego to have a financial communication with the husband. Every financial planner surely suggest that a family (husband and wife) must have a communication about their financial management, for a healthier finance and family life. 
The family goes in that way, anyway. 

2. Working husband and stay at home wife
Well well well, this working husband and stay at home wife is the most common kind of family. But of course, once again this kind of family also have a potential financial management problem. The husband, in this case, has the full power of finance, since he is the only source income of the family. Would he share the power with the wife? In the case that i met, he is not giving even a little power to his wife. The wife become so sad, because the money her husband gives is never enough to maintain the family needs. It is not because the income is small, but because limited budget that her husband gives. After a long talk, the root cause is because the husband has not trusted the wife on spending money, yet. I suggest her to be patient and show that she can manage the money very well. And after a while, she even got a beauty treatment  budget. The communication goes well, i think :)

The finance manager in a family usually comes the the wife. But it does not mean the husband can not be the one. If the husband has more knowledge about financial management, why not. As long as for the healthier family financial management. Just don't let bad financial management in your family result the domestic disharmony. It doesn't matter big or small income, the finance communication one does matter.  Be sure you do it in a fine and relax condition.