Why Budgeting is important in Marriage

July 22, 2020mommywithagoal@gmail.com

You may have read tons of articles how important budgeting is and how it had helped a lot of people gain financial freedom. Budgeting itself isn’t restricted for couples but for everyone. As long as you’re earning and spending.

If you’re single but interested in learning why budgeting is important, then you can skip no. 2. All others are still applicable for you. Or you can read everything as well for future purposes when you get to have your own family to apply the lessons learned. It’s never wrong to understand things in advance.

If you have been using one but is still doubting yourself why you’re doing it, then this is for you. And if you haven’t tried using one, hopefully this would be an eye-opener for you to change your methods in handling your finances especially during this trying times.

1.Accountability

All of us has responsibilities, financial responsibility to be exact. It is important that we allot for what we call our needs such as mortgage / rent for our home, food, utilities (electricity, water and gas) expenses, petrol if you own a car or money set aside to top-up those transportation cards, phone bills, tuition fees for kids, eating out, and the list goes on.

Understanding this first is essential as you’ll have a more visual grasp on what and where your hard earned money is going to. Being human, it is in our nature to want to see before we believe. 

Upon seeing where your money is used, you can slowly adjust your actions to allow you to have more room in your budgeting.

2. Avoid arguments

“Money is the root of all evil” isn’t a new saying to hear. Is it really money or the love for money?

Likewise, they say money is one of the most reasons why married couples fight, sadly to others even end of their marriage. 

In most marriage, money talk is either a topic that couples talk openly as you share a joint account OR both just continue with how they handle their money before being a couple then just agree on who pays what.

Which of the two set of couples does your marriage belong?

Your answer actually doesn’t matter much as even if you combine your money or not. Let us remember, money is a thing, a kind of paper used as medium of legal tender.

It is the feelings you have towards money that is the root of the problem. There would still be underlying feelings towards the use of money. Husbands would spy on their wife buying clothes while wife silently observes that new tool her husband bought. 

This wouldn’t be an issue at first but as time goes along, that feelings inside you slowly builds up. You either voice out to your partner what you feel or you keep it until you feel hatred. You know when you have hatred in your heart, you tend to always only see the bad in things instead of the other way around.

HOW DOES BUDGETING HELP?

Upon allocating for your essentials, you’ll have a better look at what you have/can spend without feeling any guilt. No more hiding purchases or feeling towards the others purchases. 

Harmony can be restored and you’ll see more great things you love about your partner. That includes being responsible financially. Who doesn’t want a partner in life who knows how to handle money?

3. Greed

Have you ever thought if rich people encounter problems too? Money problems? You might be surprised if I tell you they still do. Yes, no little or big the amount of money you have, one will always have money problems if greed is there.

It is even written in the bible at 1 Timothy 6:10, NASB: “For the love of money is a root of all sorts of evil, and some by longing for it have wandered away from the faith and pierced themselves with many griefs.”

Though it has been in our human nature to ask for more, we must learn to assess ourselves and learn to be contented with what we have. By having a budget, you slowly learn to live within your means. Learn to appreciate the life your family can afford. There’s more than one reason to be thankful for, I’m sure!

It doesn’t take buying the same TV your neighbour had last month or eating at the same restaurant you saw your IG friend dine-in. Both won’t bring you true happiness as it isn’t what you really want. 

You’ll begin to realise that having too much material things isn’t necessary. The urge to buy things would be lessen and before you know it, you’re just actually be using your money for things you really need. Your marriage will flourish with happy memories as well as your finances.

4. Worry-free

There’s this perception with the term “Financial Freedom” where it only belongs to the rich or when you get rich. That’s not true! You can be rich but drowning in debt too.

Financial Freedom is actually for everyone. As long as you have attain that income that you need to sustain your lifestyle and no debt/mortgage to fret about.

Knowing that you have enough money to sustain you until your next salary would allow you to feel financial freedom as you know you don’t need to worry if you have enough to buy groceries for next week.

If you’re still living paycheck – to – paycheck GRAB this FREE Monthly Budget template and begin to see changes in your life and live the life that you love.

Leave a comment

Your email address will not be published. Required fields are marked *