Every home needs money for it's maintenance. It is essential for each home to struggle to have money for upkeep of the family. Likewise, the family ought to see that they spend their income wisely.
Money is one of the sources of misunderstanding and separation in the home. Therefore, Every home must know the right way to get money and manage it well.
The right way of getting money
1. Both the husband and wife should be self-employed or salary earning. They should not be lazy nor depend on somebody to meet their financial needs. They should not seek money through dubious means e.g. stealing, gambling and deceit. Wife should not engage in the work which will hinder her for doing domestic work and take care of their child. Husband too should not be busy that he will not have time to attend to his family.
2. They can make investments. This can be done by having business or farm and poultry. Buying shares from reliable companies or banks. Joining a cooperative groups. Insuring their lives and properties. They can lease their properties or build houses, by furniture, canopies and catering materials for tentage. Embark on investments marketable in your area, operated by people of integrity. And within your means. Do not hesitate to withdraw or stop investment when you see it does not improve your economy.
3. By saving some amounts for all the members of the family. It may be in the bank or thrifty. Banks have various savings facilities. Contact them to know the one you can use. Save in a reliable and well established bank and monitor well your saving by getting regular reports from the bank.
The way to manage money
1. The couple ought to know how much money that come in for the family every month: This means the husband should let his wife know how much he earns and the wife too must do the same. The wives are eager to know their husband's salary. While some husband hide it for what they called security. They think their wives can harm them or make budget to cover all. Some wives to do not disclose how much they earn to their husbands, so that the husbands will not fail in their responsibilities. This should not be.
2. Regard the money as the family's money: it is not just for husband nor the wife. Thus it must be spent for the family. Some wives feel that their salary should not be used for the family. They prefer to use it for themselves and extended family, particularly their parents. This should not be because your own family comes first.
3. Decide together what you will use the money for: it is essential to deduct some amounts for food, health, education, clothing, house bills for the family. Charity and community contributions including taxes and saving should be allocated. The rest can be spent on unforseen expenses.
4. Strive to spend within your means: This is try to see you do not spend more than you earn. Make sure you spend on actual basic needs than wants. Do not get loan except what to use it for is unavoidable and you cannot get it again. Do not borrow money for what you can leave for next month. If you want to get loan, make sure you will get something to pay it at the time you suppose to return it. Do not get loan without knowledge of your partner. Pay your debt before getting another.
5. Be faithful in keeping joint account (common purse): couples are advised to have joint account known as common purse. It is argued that it will solve problem of suspicion. It is natural for a woman to think the husband is telling lie when he says there is no money. Like wise it is a sign of oneness.
This joint account is keeping the salary of the couples together in one place. It can be in the bank, a box in the house or in the hand of the husband or wife.
Although it is an ideal thing, some people prefer not to have joint account because it can cause misunderstanding in the home. The habit of their partners in spending are unbecoming. Some wives or husbands loves to spend more money for their pa family than theirs, some people do not want to spend money nor assist the poor, some husbands.use their money for adultery, drinking, smoking and other things not beneficial for both parties. Likewise the wives spend the family money for frivolous things.
If your family decided to have joint account, be faithful to each other. When the money is in the bank, do not withdraw without the knowledge of your spouse. If you were keeper of the account, do not spend it without approval of your partner. When it is kept n the home, let your companion know when you take out of the purse. Do not oppose the withdraw from the purse when it will be used for beneficial purpose.
6. Do not love money more than your mate and children: some couples love money too much that they neglect their duties to the family. This is not healthy for family growth.
7. Embark on projects you can finance: do not allow friends and society force nor advice you to embark on projects which you cannot finance. Neither should you compete with other family. The other family may have more source of income than you.
8. Do not ruin your partner's business: if your mate has a business such as shop, company or any establishment, do not reck it down by reckless spending, borrowing and unhealthy advices. Your attitude towards the workers and customers must be encouraging, so that they will be willing to continue to work and buy from your spouse. Avoid foul speeches and bad habits. Be a peace maker between your partner and the workers.
The growth of the family in every aspect including finance should always be the goal.
Let Love lead!
Nice article