Posts Tagged ‘family’
There are many brides-to-be and grooms-to-be that are dealing with one of their future spouses being broke and they are shouldering all the bills during the engagement phase and they are sick of it. It is not only because they are shouldering all the bills, furthermore, they are the one taking care of keeping the house clean, cooking dinner and more. Incidentally, this is beginning to wear on the one that is bringing in the income.
Newsflash – If this is what is happening when you are engaged and you are not expressing your concerns and talking about it, the same will occur once you are married. Notice I said if you are not expressing your concerns – not arguing, calling each other names, walking out and leaving things unresolved. None of those behaviors solve financial shortcomings. Let’s break it down.
When you are engaged and only one of you are bringing in the income – yes initially it seems okay but it will wear off in a short matter of time. Here is what you look at: 1) Does your future spouse have the initiative to change jobs or get a job if he or she is not working; 2) Do they also have bills and you are paying his or her bills in addition to yours and are you able to do it without falling behind on your bills; 3) It sends a message when he or she is not paying her bills during the engagement phase because what will they do when an emergency or situation happens once you are married?
Let’s take it here, what would your parents say if they knew your future spouse was not paying his or her bills and you were paying everything? If you won’t tell them, what keeps you from telling them and why? My purpose here is to show you this could be a red flag because people do not change once they get married. As a matter of fact, after a period of time they get comfortable and what you put up with for a certain period of time becomes acceptable and they do not expect they should change.
You can be sick of shouldering all the bills and are you going to TALK about it? What is it that you want to see happen in your finances while you are engaged and then let’s talk about once you are married. Because normally what happens while you are engaged gets carried over into the marriage. Set the right foundation now for financial and marital happiness not discord.
Being the money manager such as I am, there are times when you might not tell your spouse everything that is going on with the finances. Why does this happen? Well, I can think of several reasons – you do not want to add to his stress level, you think if you told him he would go off on you (not physically but verbally), you believe you can get it handled and no one needs to be the wiser. Listen wives, for whatever reason it – do you realize you are shouldering all the burden, stress and frustration. You also could be making decisions without all of the information and your husband could be assisting you.
Has this happened to me? There were some times when I was not discussing in complete detail the money with him because I was working the plan. I told my husband give me a chance to work the plan. Now was he willing to do it? Yes, because when I have said that before it turned out to the benefit of everyone and not to anyone’s detriment. So he knows when I say I am working the plan that it will give him more freedom later to shop without scrutiny. See, in our marriage he is the shopper and not me.
Do I think we all are shoppers at some point. Yes, because I will buy up Barnes and Nobles if left to my own devices. But other than that, it is quiet when it comes to shopping from me. I digress, when a financial issue presents itself that you did not plan on and it gets bigger and bigger, who do you turn to? When I was single and this happened, I did not turn to family, friends, nor anyone in my church. What happens then Ladies is that things spiral out of control.
Once things spiral out of control, it is almost like no turning back. Before things spiral out of control today, I am here to help you. I’m the wife who has been in debt, homeless, came back from being in debt, restored and happily married to the same man that I married when I was in debt. Do you need someone to encourage you that you can get out debt, share with you how to talk to your husband about finances and establish a plan as well as much more… then become a member of MarriageMoneyMatters.com today which is for wives.
I will be working with you on reviewing credit reports, providing one-on-one financial counseling, holding you accountable to discussing money and marriage with your husbands and much more. Join today and get the answers in the privacy and comfort of your own home.
This is a “hot topic” that I continue to see needs answering. Should parents give married “GROWN” children money. Let me say upfront there are a lot of different factors and I am going to discuss them right here. Because LIFE happens and the answer can vary. Take the time to read this and decide what applies to you or what will you do when your children are grown and married.
First situation: I think it is acceptable for parents to give grown married children money if they are in an emergent situation. It was unexpected, they are not bad money managers but an unexpected sitation has happened. Also as long as the husband and wife, both know the parents gave the money. This does happen and can happen.
Second situation: Parents are loaning their adult child money without the spouse knowing it. This is primarily when the spouse is complaining to parents about their spouse. So the parents are almost taking sides and encouraging separation in money and marriage by their actions. Do not even pretend it does not happen because it does. Parents do not insert yourself in the middle of a husband and wife financial issues. They have to learn how to talk with each other (not argue) and work out their differences. You are not in their home 24/7 and are getting one side of the story.
Third situation: Grown married children are taking advantage of their parents because they know they can. There are probably a husband and wife that are bad money managers based on their own background, then they run to mom and dad to bail them out of their financial troubles because they know they can without any remorse. This in itself makes for debt situations that can tear the marriage apart. What can also end up happening in this situation is that one set of parents become a bank and the other set of parents are almost ignored because they do not open up their wallets. Either way, all of this scenario is bad.
Caution for parents: When brides and grooms get married initially, they need to learn how to rely on each other. Not run to you to bail them out at the first sign of financial stress.
Brides and grooms: Do not go to your parents and speak negatively about yout spouse and money. Once you paint a picture of negative and uncooperation, it is hard to change it back.
Since it has been a few days since I posted, I thought today I would write on wives, money and marriage not only because I am a wife, but also because money could mean different things to women. Money in marriage can also present different issues for women. For this reason I am going to share about an experience that I had early in our marriage as a wife.
I remember coming into our marriage with debt, not having a bank account and had not started working. I mean this was within the first month or two of our being married. My husband would get up and go to work, I was finishing school and then would come home in the afternoon and work on his education consulting business. I began dreaming he was in an accident and I did not have access to any money. I was not on any of his accounts. The bank he had an account at refused to put me on his account because of my own bad debt. We didn’t necessarily have a problem with that. My focus was at that time though was if anything happened to him, I was up the creek. This dream occurred over and over again for about a week to two weeks.
Probably in that second week, there was a particular day when he came home from work and I could not take it anymore. We were best friends and I knew that I could tell him what was happening and we would come up with a solution. So I shared with him, how this dream had been literally haunting me and upsetting me that if something happened to him, I’d pretty much be in the cold. Mind you it was just the two of us, no kids at this point. He said, Babe I am so sorry you have been having a dream like that. Come on let’s go open us an account right now.
So we went to the bank where his business account was and opened a joint account that I could have access to. If I needed something during the day or whatever, then I could go to the bank and get the money I needed to take care of business. Let me preface this, he knew that I was not a shopper and would not spend because I had access.
Lessons you can learn:
(1) If one of you has bad credit and no bank account, the spouse should make sure the one without finances has access to money to take care of the household or some money for them.
(2) Do not hold back your thoughts or dreams when it comes to money and marriage. That dream was upsetting me and I am sure affecting other thoughts and decisions. Once I shared it and we handled it together, I never had the dream again.
(3) Trust is crucial in marriage, especially when it comes to money. It is imperative that you know your husband or wife when it comes to money. If I had been a different person sure I could have shopped it up as soon as he gave me access to his account. However, he already knew I was not that type of woman.
Wives, I understand we have our own issues when it comes to money and marriage. What would you have done if this was you? Weigh in!
Iknow reading that title many of you are already thinking of what grade you are. I want you to read this post and be honest with yourself. Only you know what your money and marriage is about. Take the time to read through and be determined this day to make a change.
Grade A - You and your spouse openly and honestly communicate about money in marriage weekly if not several times a week. You have mutual financial goals set and are accomplishing those goals. No one person is bearing the financial burden. You and your spouse have dealt with financial challenges and survived them together without letting the stress of the financial challenges change who you are. You have learned that your love can conquer all and you work together as a team not as opponents. There is no pointing the finger in this grade, each accepts responsibility for financial mistakes and move on to solutions. Husbands and wives in this category have discovered what works best for them joint account or separate account or a combination of both. Have taken financial classes and also helped other couples.
Grade B – You and your spouse communicate about money about twice a month. One person is managing the money and makes sure the other one is knowledgeable about the finances. The person managing the money is bearing the burden of knowing immediately about the finances and tends to stress about it before talking with the other. There have been times when the money manager has been overwhelmed with the financial challenges and managed to get it resolved without including the spouse. When the money manager is overwhelmed it is evident that the personality changes which adds more stress to the marriage. Once it is resolved, returned to natural self. Will get financial help if they feel it is necessary.
Grade C - You and your spouse are not communicating about money until an unexpected emergency happens. Then you go into panic mode and operate out of desperation. Once the emergency is solved, you return to the same behavior of not talking about money. The person that is managing the money, pays some bills and not others hoping that the spouse does not find out. There are no mutual financial goals. One person begins to feel as if there needs are not being met due to a lack of finances. Want to get help but think you cannot afford it and that leads to more financial mistakes.
Grade D - You and your spouse found out that one of you came into the marriage with existing debt and doesn’t like it one bit. Furthermore, that person is a shopper. The silent treatment has set in because emotions have taken over because they had a different expectation for their marriage relationship than what is actually happening. The spouse without debt is not even sure if they are going to stay. Every day they think about it while at work and dread coming home because it makes them mad. This spouse without the debt is being driven by emotions and does not even want to look at what could be a solution. This makes the marriage very stressful and could also lead to health problems. There are thoughts of getting out of debt but embarrassment stops you.
Grade F – There is no communication on any level about money. There is no joint account – everything is separate. Both parties place the blame on each other which leads to no resolution. They keep ending up in the vicious cycle of debt. All they see is continuous debt and say to themselves why bother, not sure if this marriage is going to last anyway. Husband and wife came to the marriage with financial baggage and things are unraveling in a fast past. While the money issues are unraveling, the husband and wife are growing father and father apart. This couple is not thinking about money and marriage issues in any way, shape or form.
This post was designed to make you evaluate your money and marriage relationship. Are you talking enough? If you would like counseling or want the financial education program I created, send me an email via email@example.com .
Copyright ©2009 – Dr. Taffy Wagner – Permission granted to use and reproduce with proper citation.
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.
Hmmm. This title came to me while I was writing a different post. Yes, this means it is for someone out there. There are many husbands and wives that throw in the marriage towel because of money challenges that present in marriage. Let me ask you a few questions:
1) Are you throwing in the towel because you are no longer willing to fight for your marriage? Marriage with two committed people does take work and it does not have to be hard like everyone says it is. People’s perception of marriage has gotten distorted based on what friends have experienced in marriage, family members in marriage, as well as co-workers. Recommendation: When it comes to your marriage, be honest with yourself – search deep down and ask yourself have you given it your best shot.
2) Can the financial issues not be repaired? Are there so many financial issues that you feel you have not options? If you feel that you have no options, did you take steps to consult with a financial counselor or advisor to get counseling on your specific situation. Or are you continuing to utilize your credit card and incur more debt thereby making the financial issues worse? Recommendation: Before you throw in the towel because you feel the financial issues cannot be repaired, be honest with yourself. What part of the financial issues that exist did you cause? They were not caused by one party – both of you are in this together. Second if the financial challenges got to be sooo difficult and you chose to move out (I didn’t say divorce) and get a place of your own, now you are incurring more bills. That did not solve the problem. As a matter of fact, that creates a bigger financial problem for the marriage. Why? Because now you have chosen to live a separate life and incur additional debt. Question: Is that what your goal was when you decided to leave? Next question: What happens if you decide to work it out within your marriage and now you return with a new stack of bills?
3) I cannot help but wonder, how many people entered into marriage without talking about finances. Then once they found out there was existing debt on a husband or wife’s part that was brought into the marriage, they are ready to throw in the towel. Recommendation: Not meaning to sound harsh – this is how I see it. You have to a legal age to get married, which means you are an adult. I am sure a lot of couples had discussions prior to getting married that invooved money, yet they creatively skirted around the deeper issues that involved money that could have raised a red flag. Be honest with yourself, if you did not discuss money before and are starting to find out some not so pretty financial habits – take the time now to talk before you make any hasty, life long decisions.
Before you throw in the towel because of the pressure and stress, be honest with yourself about your role in your money and marriage.
I tell you what people need to stop coming up with these insane notions when it comes to marriage. I was doing my morning research before having class with the twins and came across this article – Does Marriage Make You Poorer? If you have been reading my blog for quite a while, you already know that I am not about the nonsense that continues to be spewed out when it comes to marriage, let alone Money and Marriage.
Let’s face it, marriage does not make you poorer. Furthermore, money does not do anything by itself. How people chooes to handle or mishandle money is what makes them richer or poorer. Then how their character changes because of money or a lack of money is what causes other situations in their lives and marriages.
If a husband and wife, discuss money openly on a regular basis, with mutual financial goals in mind, then their money and marriage is what they make. People need to understand money is not the only way that they can be rich, because there are a lot of MISERABLE rich people. Richness happens when there is a family that loves each other, enjoy spending time together and living life. Sure they could have financial challenges, but they discuss them and solve them together. One does not choose to throw in the towel because it is not a perfect world when it comes to finances.
Your money in marriage is what you make it. Do not let society dictate what your money in marriage is supposed to be today. Do not surround yourself with people that are jealous of your marriage and are telling you things to bring you into their world of misery. Take a stand for your marriage today like you never have before. Begin talking and making mutual financial goals in the present. It is a new chance to make better financial decisions.
As I was outside with our twins today, my mind was literally racing thinking about money in marriage. Remember the average human has 55,000 thoughts per day which means 2,292 thoughts per hour and 38 thoughts every minute. So I was burning up those 38 thoughts in the few minutes I was out there.
What was coming to me was husbands and wives often need financial help but think it is going to cost them more money then they have. Therefore, they choose not to get the help and their marital finances get worse. Costly choice. I remember making choices like that. I don’t know if you have heard the saying, “You don’t know until you know.” So if you are a husband or wife that needs financial guidance, what can you do? I want to propose several solutions to you.
1) If you do not know exactly what your financial situation is, take a deep breath and order your credit report from one of the credit bureaus.
2) Write down what you do know such as what are open outstanding late bills while waiting for that credit report to arrive.
3) Write down also what you know is the amount of income being received for the household and what are your expenses that must be met each month.
4) After doing those things, take a sheet of paper and write down what the questions are that you have and need answers to.
5) Next, get on the internet and begin doing your research. Listen, cleaning up finances takes diligence and dedication and does not have to involve a lot of money. For example, you can come to this site http://www.moneytalkmatters.com and put in search words, there is also a page of calculators. You can also go to http://thewandwgroup.com for information on estate planning, personal finances and retirement and if you are searching for a way to manage your finances online you can go to http://www.moneystrands.com or even http://www.mint.com .
6) If you are seeking to speak with a counselor, then you can also contact me via my website and know that I don’t believe in people going into debt to learn how to manage their money, nor get out of debt.
When getting financial help you have to understand, you are not investing in that person that is teaching you money management you are investing in yourself, your marriage and your family for a lifetime. Do what is best for you without breaking the bank and recognizing that you cannot continue in the same fashion that you have been. If you want a different result, you have to take a different action.
You are in for a treat on this one. This is number 30 and will not be the last by a long shot. Tyler Perry’s Madea Family Reunion has it all. Get ready to read an insightful review hopefully without giving tooo much of this movie away.
Madea is quite the character, she deals with a runaway child in her care and also her nieces that have difficulty with love. I want to focus on the neices who are the daughters of Victoria (played by Lynn Whitfield) that clearly is all about the money. She practically is marrying her Lisa, the youngest daughter off to Carlos (played by Blair Underwood). Unbeknownst to Victoria, Carlos has been beating on the Lisa since their engagement. The Lisa shares with Vanessa, her older sister that she is being beat on and they consult Madea for guidance.
Vanessa is single and has two kids and does not think she is worthy of love after all she has been through. Vanessa reveals a family secret to her mother and Lisa hears this for the first time. The mother thinks about herself first even when this dark secret is revealed. To find out if the wedding happened between Carlos and Lisa, you will have to purchase the movie and watch it for yourself. There are many turns and twist that you might not expect. I will give you a hint – Wedding Bells do happen but who gets married? Two thumbs up.
Money does not guarantee happiness. A person that has money does not make them better than anyone else either. Some of the wealthiest people are the unhappiest.
Money Tip #1: Be content with what you have and manage it properly.
Money Tip #2: Appreciate the one you love for who they are and encourage them in whatever they choose to do. It affects the bottom line.
Money Tip #3: Do not marry for money, especially when there is domestic abuse involved.
The mother in this movie, Victoria was all about the money from the very beginning. She was this way with her own marriage and was continuing the cycle for the youngest daughter. Fortunately Vanessa, the older sister sticks up for Lisa and talks with Madea about how to handle it. She tells them not to run but to handle their business with instructions.
Vanessa had trouble trusting men but starts to fall in love with the Bus Driver, Frankie. What happens with Vanessa and the Bus Driver is a tear jerker.
(1) Your past may have some difficult things to overcome, including when it comes to finances however you must not let that stop you from living life.
(2) Learn from your financial mistakes, move on and do not make the same mistakes today or in the future.
(3) Do not be afraid to speak up if you are in a relationship and domestic violence is taking place. This is not someone you want to marry and you need to get out.
(4) Do not get caught in a situation of your parents attempting to live their lives out through you by them dictating what you should do with your life as far as career and marriage. This is a costly mistake.
(5) Having a low self-esteem does not warrant that you should be treated any kind of way. Gain your self-confidence back and know that you deserve better. Having a low self-esteem not only affects your choice in a mate, affects your employment and parenting.
(6) Trust is crucial in a marriage and when it comes to money. This is not something you can fake. If you do not have trust in a marriage, then you do not have anything. Make sure you trust your spouse when it comes to money and marriage.