My Money Or Our Money...

Managing finances is one of the challenges many couples go through today, especially when they are newly married, because of the new responsibilities that come with building a life together. Due to these additional responsibilities, it sometimes takes more than usual time for couples to find a balance in their finances, while some never get to experience the soothing feeling of financial freedom.

I live in the part of the world where men are expected to take care of family finances, no matter how huge they are, and that's why many people always emphasize that, as a man, you must be prepared before going into marriage. Yes, that preparedness is very important, but what happens when the breadwinner's finances become twisted at some point?

A lot has changed in the world today, and it's great to see couples working together to attain financial freedom. I believe it's kind of easier when couples work together rather than one of them trying to make financial freedom a dream come true for the family.

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As a teenager, I was open to learning about marriage from people I looked up to as father figures, and I remembered one of them telling me that it's not wise for a man to get his wife involved in his financial life because women do nothing but financial mismanagement, and the moment you open up to them, you might get into financial problems. I didn't take the advice seriously because, contrary to what he said, my mom did help me manage my earnings from working as a school teacher and home tutor. Yes, she is not my wife, but she is a woman.

As I grew older, I looked deeply into the man's life and realized he was struggling financially because he shut his wife out of his financial life. After looking into the lives of men who did everything together with their wives, I realized that by working together, couples can pool their strengths, skills, and perspectives to make awesome decisions and achieve financial stability.

_{I met a couple through farming, and they run a big fish-feed business. According to the story, the man started the business, but he was running at a loss until his wife became part of it. What would have been the husband's condition if he were adamant about not involving his wife in his finances?}

Although having a joint account didn't work out for some men or women out there but that doesn't mean everyone must make decisions based on what's happening in someone else's marriage.

It doesn't baffle me why the issue of joint accounts scares a lot of people today because a lot is happening out there, but it shouldn't be a problem when you are with the right person, which is why marriage shouldn't happen in a rush. Spend enough time knowing your spouse because there is more to marriage than feelings, you must know everything about her or her including their personal finance.

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If asked a hundred times about having a joint account with my wife, my answer will always be yes because she is a better finance manager than I am. Whenever she sets any goal, she doesn't back out, and she has proven herself over and over again.

_{From my observation, whoever is earning more most times kicks against the idea of a joint account, but in cases where men earn less, they don't see having a joint account as a problem.}

There is more to running a joint account than just saving in one account, but many people are ignorant about it. One of the fastest ways for couples to achieve financial freedom is by having a joint account, which doesn't mean either the husband or wife can take the money anytime and squander it. It means they have to make financial decisions together and plan on what to spend on, and this way, they can help each other spend wisely.

A lot of people think they don't have freedom with their money any longer once they settle for a joint account, but that's wrong because if you intend to use the money for something reasonable, your spouse will never kick against it. Instead of depriving you of financial freedom, having a joint account promotes financial discipline and mutual support. It's about making conscious financial decisions together, respecting each other's perspectives, and building trust.

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About three weeks ago, my wife said she wasn't happy with just seeing our little savings sitting in her account. We don't have an official joint account, but we have this little savings together for emergencies, which is in her care. We deliberated over it, and she suggested that we put the money aside from our personal business. After talking back and forth, we ended up investing the little savings in pastries, and I am happy we did.

If she had suggested we buy some clothes with the money, I would never have agreed, and if I had suggested the same, it would be a no from her, but if we had kept the money individually, we could have just spent it on anything that wouldn't have any significant impact on us since we wouldn't need to seek each others consent.

Having a joint account with my spouse isn't an issue, and that's because of the bond and trust we share. It all boils down to marrying someone you both understand eachother, someone you share the same vision and dream with, someone who has your interests at heart, and vice versa.

I really do not know what the future holds for us but I choose to hope for the best.

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_{All image are mine.}

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