There is a somewhat strong relationship between finance and relationships; and it could be said that if you cannot manage your finance then you probably won’t be able to manage your relationship.
Not everyone takes personal finance serious, but everyone who wants to be successful should.
Personal finance is a financial management which involves saving, budgeting and investing over a period of time. Imagine if you pay no mind to these, your relationship could falter. Money or things that need money are just one of those things couples argue about.
If your finances aren’t well-managed, it could lead to you being broke, and even though I hate to say this, your finances influences your love life more than you can imagine.
5 simple reasons you ought to take your personal finance more serious
1. YOU KNOW YOUR NET WORTH
Having knowledge of your net worth is very good rather living in the dark about your finances. Your net worth is the sum of all your assets less the sum of all your liabilities — it is the true measure of your financial value over time; many people have ended up in the red whereas they were previously rich just because of paying no mind to this.
2. INVESTMENT
Savings are highly important; savings are a big part of personal finance; with savings you can move from being just an employee to being an employer — that’s if you go on to invest. Every successful entrepreneur has a savings culture, and with personal finance, you can get to build a savings culture.
3. UNFORESEEN CIRCUMSTANCES
Savings are good for future investments and they are also good for unforeseen circumstances. When you work, earn, spend and don’t save, you are living your life in the dark — any unforeseen circumstance could possibly leave you penniless in a way you won’t recover, and if you think it wouldn’t affect your relationship, you need a rethink.
4. BUDGETING
Budgeting is also a very important part of financial management. How you plan your budget would determine how far you can actually go in your financial life. No matter how much you earn, if your budget isn’t well appropriated, your finances would be left in ruins. And for the men, how you manage your budget would go a long way in that relationship.
5. PLAN YOUR RETIREMENT
People work and live their life without remembering that retirement time would come. Some think of retirement but don’t know what to do about it and that’s where personal finance comes in. If you manage your personal finance well, you could have an investment plan in addition to your retirement savings. Living your last years on earth in comfort wouldn’t be a bad idea, right?
You could earn a huge amount of money and be broke and earn lesser money and be richer — it’s all about how you manage your finance.
If you still think your financial management skills wouldn’t impact your relationship, you really need to have a deep rethink.
Jake