By Patience May Onaolapo
Money plays a very important role in our daily lives. It should not necessarily matter in love but it does matter in living your love life happily. Because a lot of spoken and unspoken expectation are tied around to bring this discussion up and achieve a mutual and clear decision on how you both want to manage your finances. When couples feel good about their finances, they feel good about their marriage. These are a few financial issues to discuss.
Joint Account
Should we own a joint account alongside our individual accounts or maintain our individual accounts only?
If yes to joint account, what is the percentage of our earning that should go In monthly and what should the outflow be spent on?
Do we need to take permission from each other before spending from our joint account?
If no to joint account, what are our alternatives for family expenses?
Family Budget
From our monthly inflow, how much do we plan to expand, save or invest?
What is our maximum spending limit?
What habits do we need to let go of to become accountable to our budget?
Do we need to keep receipts and invoices or not?
Savings & Investments
Naturally, are we savers or spenders?
Do we only save excess cash or are we mandated to put some money aside monthly?
What percentage of our income do we both need to save monthly and where should it be kept?
At what point are we allowed to spend our saving and on what?
Do we need each other’s permission to spend saved money?
What are our savings and Investment goals?
At what points do we convert our savings into investment?Financial responsibilities
Who is responsible for what?
Is the man responsible for the lady’s upkeep regardless of her earnings?
Does any of us have uncleared debts?
If we do, what are the plans to clear them up?
What are our responsibilities to our extended family and how do we meet them?
Culled from LET GIRLS DREAM
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