How Wives Can Be Financially Prudent

Till a couple of decades ago when conventionally the man was the breadwinner and financial supporter of the family, all was fine for women who instrumentally assumed the role of the homemaker rather than the financier. But now, with increasing role reversal trends and economical hardships, women have to make financial contributions to their family. With the increase in divorce rates, you never know when your man might call it quits and you are left unprotected midway. Don’t be a fool and work towards making yourself financially independent. Also, wives should be made financially prudent so that they adopt the correct financial behaviour.

Don’t Keep Yourself Unaware Of Family Finances

I’m surprised that even to this day, many men and their facilities raise an eyebrow when the daughter-in-law or the woman of the house wants to know the family income and how it is spent. The women of the house are kept in the dark about the family finances.  There was a gentleman who bought gifts extravagantly for his friends on his credit card. The dues accrued and one fine morning the family was sent a penalty notice from the crediting company. It was then that the wife came to know how her husband spent his money. Learn a lesson from this. It is your right to know how financially independent women much money is coming into the household, how much is being spent and how much is being saved. Tell your husband that when you work with the family finances as a couple, two minds can come up with more effective solutions for managing the money than just one.

Save Up Something for Yourself

You may be in a good marriage and don’t need to think about how you are going to get your basic needs satisfied in the future. Good! I wish that this kind of happiness remains yours forever. But don’t take any person for granted. Not even your husband! God forbid, if you have a clash with your husband how are you going to support yourself? If you are an employed woman you need not worry much. But if you are a housewife have you thought about your plight once any disaster occurs? Leave alone disaster, your savings for yourself can always help your family too during any crisis. Save up a bit every month. Who says that its selfish for a housewife to think about her personal financial security?

Be Very Cautious Before You Co-Sign For Any Financial Liability

You might sign for repaying the housing loan or paying up the car insurance premium during your maritally happy days. But, when things go sour and you decide to split, settling the individual share for repayment is a big pain for both the financial as well as the legal authorities. Also, why do you forget that if you are a non-earning member how can you ever repay the loan? On a sad note, I’ve got to say that many spouses are not worth relying upon totally in the present times and a woman has to be always on her guard.

Leave a Reply

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