Wednesday, September 29, 2010

How Involved in Finances Should Women Be?

It seems like there's a tendency these days for women to bow out of family finances. Even when they work a job, it's normal that men (like it or not) make more money. Not only do they tend to take less time on around the house issues, giving them more time for their career, but they usually bring home a higher paycheck for the same job. This leads a lot of wives who are already taking on the role of housekeeper and mother, to give their spouse control over monthly budgeting. But is that a good idea?

There are several reasons why women, whether they're working full-time or parenting full-time, should stay involved in budgeting matters. One of the first is maintaining independence. We all hope that our marriage will last until the day we die, but the statistics for divorce show that this may not be as certain as we may want. Additionally, accidents happen. Even if your spouse is alive, they may not be healthy enough to continue work. Knowing how to budget correctly gives you the skills you need to survive on your own.

Having a say in the budget also gives an appropriate sense of control, rather than being made to feel as if you have no voice or opinion in this important matter. Whether that's getting your preferred car insurance or setting aside money for a big trip down the line, this sense of ownership can help validate you within the relationship.

Understanding budget concerns can also be a great form of preventative maintenance for marital problems. Remember that the biggest reason for divorce is money issues, so arguments can often be avoided by understanding the entire financial picture; doing so can help you communicate with your spouse about potential problems, making sure the issues never grow into a crisis.


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