Posts Tagged ‘couples’

postheadericon Should a Father continue to manage Daughter and Husband’s Money?

This is definitely a loaded post. When I saw it come in, I couldn’t help but think if you want to end up headed to divorce court, sure.  Why do I say that? Let’s be honest when a son or daughter marries, they are now the husband or wife of that person and that relationship has priority in marriage. That husband and wife will have enough issues of their own that need to be handled without bringing in a parent into it.

I do not think a parent should be handling the daughter and her husband’s money. That can pose problems for the husband and wife. The father could begin talking to the daughter about the expenses without the husband and insinuating different things. Then the daughter says something to her husband in a derogatory fashion. Now, not only do you have a conflict between the husband and wife, but also the husband and the father-in-law.

I believe it is okay if the parent would like to make suggestions based on information shared with them, that is one thing. But for the parent to be managing the money of two grown adults – not such a good idea. If the husband and wife need financial guidance, then they should consult an unbiased third party that will focus on the best interest of the marriage.

Now you see why I said sure, if you want to be on the journey towards divorce. Money is one of the top reasons for divorce. There is no need to add a parental relationship that focuses on the husband and wife’s money to really muddy the water and put relationships on edge. Imagine what would happen to the husband or wife? Now they are stuck in the middle and it is a no win situation either way. Think long and hard before doing this.

postheadericon Husband Loans Money to Friends without Telling Wife

Let me say right off I know this one is going to be loaded. When the question came in to my email, I thought to myself there are other wives this is happening to or vice versa. So let’s take it one step at a time.

Obviously the wife who wrote in anonymously found out after the fact. First question, how did she find out? Did she discover that money was missing from their joint accout? Or did he say, by the way honey a couple of weeks ago I loaned this friend some money?

I guarantee you the wife that wrote that sent that question in, is more than likely mad because he did it and she did not know about, may not even like the friend the money was loaned to and probably feels she cannot trust her man with their money because he will give it away to whomever he wants without talking with her about it as if she does not have a say so.

Money is a serious subject that cannot be avoided between a husband and wife. Husband and wives do you have an understanding about loaning money to friends, relatives or colleagues? If you do not, this is something that should be discussed beforehand. It will prevent the type of email I received.

When people lose trust in relationships, it is hard to get it back. It takes a lot of work. Then the question becomes did he really loan the money or give the money. Either way it is a serious discussion that must be had in order to prevent what the couple is dealing with right now in their relationship.

This is not saying you should not loan money, but husbands and wives should know what they agree on when it comes to loaning money, to whom and agreeing even on an amount that will not affect their household finances. Be careful, because you do not want to become a personal banker at the risk of your own marriage. It’s not worth the risk.

postheadericon So Many Do Not Discuss Money Before Marriage – Why?

Last night I received this question from a colleague via my facebook page. Yes, I am on facebook as well. This is the exact wording – I still find so many do not discuss money before they get married. Why is that? What are your thoughts? It is such a vital topic that people seem to avoid for one reason or another.

I kept thinking about it last night and decided to write on it today. Money has been labeled that “taboo” topic. However, people are beginning to talk about it because of what has happened with the economy. Most of the ones that are discussing it though are already married. The effect of the economy when it comes to brides and grooms are discussing how to have their dream wedding for less. There are couples that are even going so far as to ask their guests to pay for their wedding. Mind you, some of those couples are getting married for the second time and I have clear views on that, but I digress.

Below are some of the reasons I know people are not talking about money before marriage:

1) Fear – Afraid if they tell their soon to be spouse about their financial mistakes, they will break off the engagement or wedding. Result: Other financial mistakes occur while you are not sharing about the initial ones.

2) Secret – Believe if they can just get beyond the wedding day, then they will be the ones to manage the money and their spouse will not find out. Result: it does eventually come out and can lead to arguments and trust being removed.

3) Caught UP in the Wedding Day – Both the bride and groom are so “caught up” in the wedding day, they do not even think to talk about money. Result: as soon as the honeymoon is over and the other one finds out about their debt, the arguments begin, distrust occurs and much more.

4) Denial – Don’t discuss money because they think they have a handle on everything. Result:  As soon as that unexpected financial expense happens, they don’t know what to do. Usually turn to mom and dad instead of each other.

5) Want to be a statistic – By not discussing money before marriage, couples are choosing to go down the path of potentially becoming a divorce statistic. Getting divorced because of money.

6) Don’t soon to be spouse to they are a shopper. This way they can walk down the aisle and then attempt to curb it initially and then revert back to their trueself.

7) Lack of trust. They do not trust the person when it comes to money based on past baggage with someone else, so they are not even willing to open that door.

Those are some of the reasons people would not discuss money before marriage. I don’t agree with them because at the end of the day, all of them could lead to divorce court.

What do you think?

postheadericon Part 2 – Should Married Christians get divorced because of Money

Last time I left you with the thought of if you were depending on God or your mate when it came to finances. I also said what is causing the divorce is deeper than money. We reference money as one of the top reasons for divorce but as I said before, money in itself cannot do anything.

When couples are arguing about money, they are arguing about 1) its mishandling – overspending and impulse buying which results in not having enough to pay bills or for other necessities; 2) an individual’s value system when it comes to money. Value system meaning your beliefs about how money should be handled, who should handle the money and what takes precedence when it comes to expenditures in the household. Value system is comprised of many factors especially when it comes to money – your environment, what you saw and experienced when you were growing up regarding money, your personal handling of money good and bad. All of these factors form your value system. So when your value system is challenged you react or respond a certain way.

Value system is big – so let me put it into perspective. For example, as a person that was raised by a single parent with little to no access to money, it would be within my value system to be very cautious about money, paying bills and making sure there is some left over. So it would not “feel good” to me to buy on impulse. Now from Married Christians perspective if you know that you are to pay your bills and you spend impulsively on a want versus a need and now you cannot pay your bills – the discussion is happening in a way you might not like.

So Married Christians may be divorcing and utilizing money as the reason but it is not the reason it is their value system being challenged. They have had enough. Money issues affect more than the husband or the wife, it affects their relationship, performance at work, if they have children (them as well), household bills and more.

Before you decide to file for divorce, think things through and be honest. Think about your actions when it comes to money and marriage – 1) What role did you play in this area that you believe has failed and 2) Did you have structure when it came to finances? Begin talking it out with each other to each other about money to see what you can do to make better decisions to sustain the marriage and time invested in each other than versus throwing away this union.

CAUTION: Do not wait until you are in Divorce court to find out about each other’s financial habits.

postheadericon Husband will not share money with Wife

This is a topic that I felt was worth writing about because it happens and it can be one reason that couples end up in divorce. When a husband will not share the money with his wife there is a reason behind it. Could even be more than one reason. Let me be clear, I am not saying this is right by any means what I want you to understand is the following: husbands and wives do not just keep money from each other for no reason.

In order to get to the root of the reason, consider these questions:

1) How long have you been married and has this been the practice the entire marriage?

2) If this was not the typical for the marriage, what took place in order for this to start happening?

3) If the husband is not sharing the money with the wife, does the wife have any means of income?

4) Are wives talking with husbands about the household finances? You could be discussing the finances without having access. Sure that could be cruel – begin talking.

5) This could stem from a previous relationship even though you are not that person. Therefore, if that is the case then sit down and talk with your husband about the household finances and establish mutual financial goals for the home. Furthermore, the message should be conveyed that you are partners and not enemies. You are on the same team. You will have to prove this to him which will come in the form of your managing the money appropriately.

Consider those to start with and begin talking with your spouse. Find out his reason for taking that stand and then forgive him. But you must know what the reason is first.

postheadericon Sad it comes to this – Loving Couples Divorce to stay afloat

Awwww this saddens me to read a story such as this, Loving Couple Divorces to Stay Afloat Financially. They are experiencing money trouble after health trouble. I tell you people are having to really get creative and I don’t think it should have to be this way.

You have to read this story, the wife shares they are literally living week to week. I wondered if this would be an issue if she took her vows seriously. When I read down further, she does have some concern. I have to applaud this couple for doing what they need to do. Yes it is unconventional, however it is time to not box yourself in. Whew! Really saddens me.

postheadericon For Better or Worse, For Richer or For Poorer becomes Reality

We have all heard that said in vows during many weddings that we have attended and some of you may have even said yourself. Bride takes the groom “For better of for worse, for richer or for poorer”. Those words are often said without any thought of that become the life of Mr. and Mrs. Wed.

Then when times get tough due to financial choices made, one party of the marriage wants to divorce because of finances. Listen, we have all heard the statistics that money is one of the top three reasons for divorce. I ask you, what happened to For Richer or For Poorer and For Better or For Worse? Did they not mean or did not give any thought to life happens? Sure, Life happens and situations happen but you are the one in control. It does not necessarily matter what the situation is but HOW YOU HANDLE the situation and come THROUGH it.

Let’s say for example a spouse loses a job and now the budget gets a little tighter, well that is okay. Couples must learn to work together and not treat each other as enemies. That husband or wife did not get up this morning and say I am going to go to work and do everything I can to lose my job. There are times it is not even their fault. Jobs have been cut due to the economy and for some companies hours have been reduced in order to sustain some companies. Either way, it was not your husband or wife’s choice that this happen at their place of employment.

A situation has presented regarding employment and what are the options you have in order to keep your household functioning accordingly? Get creative – be an optimist and not a complainer about your situation. Complaining has never solved anything and there have been times when complaining makes the situation worse. If your goal is to make the situation worse, then go ahead and complain. If your goal is to make it better, then start by changing the words that are coming out of your mouth. Become solution oriented and not a victim of what happened.

I would imagine even with financial challenges, deep down you still love the person. So financial challenges does not change that. Do not make decisions based on emotions. When you said your vows – you chose to say ” I Do” because you love the person. Love is a choice and not an emotion. Begin taking your vows seriously and talk with your spouse today.

postheadericon The Brits are hiding Extravagant purchases from Spouses

Being the researcher that I am, I was reviewing different press releases tonight to keep up on things happening in the marriage movement and I found a release titled Almost 2 million Brits Admit to hiding extravagant purchases from their spouse. WHOAAAA.

It says “The Bank’s research found that almost one in five (18.5%) people in debt and in a relationship claim to be hiding the true extent of their debt from their partner or spouse.” This is an international problem – talking about money apparently is not on the top of couples list.

It is time to change that because that is unbelievable. This goes to show that people are not comfortable even in marriage opening up and disclosing their financial challenges. Yet, when most people get married within their vows are included the words For Better or For Worse, For Richer or For Poorer. What does anyone have to gain from all this secrecy? I say nothing. However, you have a lot to LOSE by hiding these truths.

The way I see it, these financial challenges are temporary and once a husband or wife takes control of their finances it can all change. But if they choose to continue the secrets and managing money improperly, more than likely the door will be open for additional financial challenges. I will let you in on a secret – until you begin correcting and talking about the financial mistakes, you are in a vicious cycle of making more mistakes and incurring more financial stress in your life.

Take control of your finances today and do not be controlled by your finances. There is a big difference.

postheadericon Marriage and Money Movie #29 – A Good Man is Hard to Find

This movie came highly recommended to me by a colleague, Mary Chatman, CEO of Creations of Love, Inc. I have to say WOW! This was not what I expected and it truly kept me on the edge of my seat.

Darin Dewitt Henson, Golden Brooks, Erica Campbell, Mel Jackson, Bishop Noel Jones, Darius McCrary, Hill Harper and Melissa De Sousa what a cast. There are so many dynamics in this movie, I am attempting to summarize it without giving too much away.

The below is a a familiar story that people might have actually heard in real life: Man meets woman when they are younger, fall in love and he asks her to marry him. She says yes under one condition that he would never leave her. Man is invovled in his church and woman feels as if she has taken a back seat to his duties at the church. Man says that she doesn’t come second, but any time she wants to plan something, he has a commitment at the Church. Woman feels unappreciated and unwanted. Woman has a great paying job and completes a top level degree, that no doubt her husband paid for. Woman is offered a job that is paying her more and her soon to be new boss make advances. Woman invites new boss to a dinner gathering and husband is late to the gathering and still meets her new boss and does not like him.

Woman goes to work the next day and complains to the new boss. What do you think happens next. What happens next, sets off a chain of events that you do not expect by a long shot. You will have to get a copy of this movie and add it to your library. It it soooo worth it.

Money Implications:

Just because one person makes more money than the other in marriage, does not mean that the one who makes less is any more less driven than the one who makes a lot of money. There will always be people who think they can come into your life and give you the world, yet in the end it is a game to them. People love the chase. Don’t fall for the trap.

Money Tip #1: Do not forget about investments spouses made in each other and the marriage.

Money Tip #2: The grass may look greaner on the other side and that new person is only using different fertilizer with a devastating result.

Money Tip #3: Do not allow illegal activity to go in your house that could result in something detrimental to your family. It is not worth it.

Observations:

Couple #1: Main Couple who is Rachel (Golden Brooks) and Clarence (Darrin Henson) were in a marriage that dealt with him paying for her higher college education, him being involved in the Church and her feeling as if she came second to the church. They had an adult son that did not want to work but was involved with some illegal activity.

Couple #2: Bruce and Charlene a very interesting couple. Bruce worked with Clarence at the Auto Shop and is a drinker. Charlene has a good job and loves her husband. Within this relationship they deal with alcoholism, pregnancy and physical abuse.

Not a couple: What is interesting you have Rachel’s friend, Monica who met her boss, Damion Marshall. You will have to watch the movie to find out what happens.

Recommendations:

(1) Do not subject yourself to physical abuse in any relationship it is not worth it. That can cost you tons of money in the long run whether it is legal fees or even therapy bills.

(2) When you are in a marriage, do not let it drive you to do anything illegal or anything that would endanger your life.

(3) Make it known if someone begins flirting with you that you are happily married. Do not even let your mind begin to go there. You cannot afford the consequences of infidelity.

(4) For those that are spiritual, when it comes to involvement in your Church and your marriage, healthy boundaries must be set here too. Families should not feel as if they are paying a heavy price because of the Church.

 

If you are seeking guidance in money and marriage, contact Dr. Taffy via emal at drtaffy@moneytalkmatters. com

postheadericon Who is saving marriages? Is it secularism?

Yes, I am a researcher to my heart. As I was researching marriage articles this morning, I discovered this article that was in a column of USA Today titled Is secularism saving marriages? I continued to read because that title had me interested. It discusses how men and women are perceiving themselves as mutual partners which transforms marriages.

I wholeheartedly agree with that. The article seems to think that the religious community does not get that. At the end of the day, whether you are spiritual or not, your beliefs about marriage and what you would like to see happen in your marriage will guide you in your relationship.

I am proud to see more people taking premarital counseling and learning to work together. When married couples have situations, they have always had the ability to choose I thought who they sought guidance from. For some they will turn to their Pastor, others will see experts in that field and that is okay too. What matters is that the couples take action and get the guidance that they need in order to sustain their relationship.

Marriage does take work from the husband and wife. Both parties must be willing to do what it takes to make their marriage work. It is not always about being right but being able to forgive, not holding on to the past, accepting responsibility for choices made and moving forward for the benefit of the marriage. Nobody is perfect.

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