Take a look around. Your big couch is gleaming in white. Your big, plasma television is a sight to behold. Even your chandeliers, with all its diamond accents are glistening. You beam with pride because what you see inside your house are products of your hard work. While some may be gifts from your friends from your wedding day, just about everything have been bought with you and your spouse’s combined income.
Spending Habits: How’s yours?
A few weeks before the wedding, you have already chosen your favourites on the display of appliances and you just need the right time to purchase it. After your honeymoon, you dive right into the shopping malls for that long-awaited shopping spree. With your husband in tow, you bought your necessities with an excitement and thrill similar to what you felt on the day you said “Yes” to his wedding proposal. Even the tiniest item is bought as a mutual decision.
Aside from the fact that his expenses aren’t part of your monthly budget, many of the things he’s bought aren’t even necessary. Your old television, for example, is fully functional and performing like a new one. Additionally, he doesn’t even consult you anymore about his purchases. You don’t have the slightest idea what he’s going to buy next. You just get a shock when two weeks later a shiny two-door refrigerator arrives at your home.
Oooops, you think, maybe he is just getting the shopping bug at the moment. But when would it end? And the bills are piling worryingly high, and to top it all, the purchases are not within your budget. These are unnecessary purchases for the reason that these appliances are replacing ones that are still in great condition. Need I reiterate?
This is a scenario that many couples in Singapore have experienced. If this has actually happened to you, know that you are not alone, and just like with other couples, you have to deal with it. You probably won’t realize it right away, but this will wreak havoc into your married life. Money issues are sensitive issues. Any complaint from one – however justified – will instantly cause the other to be defensive. However, working as a couple, you need to evaluate and plan your financial standing and make sure you’re not spending more than you’re earning and that you can pay off everything you’ve taken to your home.
Finances are and should be a joint decision among couples who wish to embark their journey to a married life with fewer complications and hassles. Money matters in marriage. It does not necessarily mean your combined assets must amount to a huge one. What is important and is indispensable in your relationship is that you talk about these finance matters and come up with a decision that benefits the both of you.
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