Managing finance in marriage is probably one of the most talked about topics in books, on TV, or even in normal conversations! Managing finance as a single is one thing and it’s another to manage and merge your money with your spouse. Here are some tips on how you can make life easier in handling your finance:
1. Budget BEFORE you get your pay check. Make sure that before you even receive your paycheck you and your husband already know where you should be using it. Most people forget about everything else when they receive their paycheck. All they care about is the most awaited sale or eating at that fine dining restaurant. Hold your horses! Think forward and focus on the things you need: house, education for kids, etc.
The plans of the diligent lead to profit
as surely as haste leads to poverty.
Proverbs 21:5
2. Live on one income. Although we may say that we have a stable job or a stable economy, we will never know! The recession in 2008 have left a lot of people all over the world with employees who’ve lost their jobs in an instant. If you or your spouse had been laid off, then one of you can still pay your monthly bills.
Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much. So if you have not been trustworthy in handling worldly wealth, who will trust you with true riches?
Luke 16:10-11
3. Create an emergency fund. What if both of you lost your job or decided to resign at the same time? Will you be able to support your family? Having an emergency fund that can let you live for 6 months without any single income coming in is the most ideal. Within this period, at least you have enough time to find another job to replace the previous one.
Go to the ant, o sluggard, observe her ways and be wise, which, having no chief, officer or ruler, prepares her food in the summer and gathers her provision in the harvest.
Proverbs 6:6-8
4. Pay your debts first. In the first place, never have debts. But if you started your marriage with separate debts or have acquired one during your marriage, then make every single effort to pay it off as soon as possible. If you let this accumulate, without noticing it, you may actually pay double the amount you borrowed because of interest.
The rich rule over the poor, and the borrower is servant to the lender.
Proverbs 22:7
5. Be honest with your spouse. I can’t agree with Kelly more as she mentioned in the previous post that being dishonest with your husband in any area of your life does not facilitate life and growth, it only invites negativity and distrust. If one spouse has a problem handling finances, then the other can help, encourage and pray for her so she would know how to handle it. Allowing issues to be unresolved will just make things more complicated in the long run.
Lying lips are an abomination to the Lord,
but those who act faithfully are his delight. Proverbs 12:22
How are you in managing your finances?
Viviene is happily married to the man of her dreams for more than 2 years. Her heart’s desire is to minister to single women and young wives to be more Christlike and reach their full potential for God’s glory. She blogs about faith and marriage over at The Journey of a Woman. Connect with her on Twitter and Facebook.
Thanks for allowing me to share these tips! I hope they were able to help in some ways =)