Monday, July 8, 2013


This past week we discussed the importance of managing money in family. Something that my parents have always shown me is that in marriage it is never "my" money. It is "our" money. They expect equal ownership of the income, even though my mother isn't working. However, with this concept in mind they have never had to engage in arguments over who's is whose.  The spending of money should be on the same level basis, with both spouses agreeing on how to spend the money. It’s important to decide what’s important and what is not. Marvin J. Ashton said, “In the home, money management between husband and wife should be on a partnership basis, with both parties having a voice in decision and policy making.” It’s so crucial to communicate about how you will spend your money as a family. Steve Albrecht said, “Poor financial management can destroy an otherwise stable family, and many divorces can be traced to quarrels over money.” Let us put the things first that matter most on what we spend in avoiding quarrels that can have a damaging effect on the ones we love. 

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