Two shall become one including your money and debt

Introduction

According to several sources, one of the top reasons for failed marriages is due to financial challenges. However, a couple can overcome financial challenges if the money is managed properly. One way to do so is to create a joint bank account and pool your resources together. After all, when you get married, you become one as described in Genesis 2:24 which states “That is why a man leaves his father and mother and is united to his wife, and they become one flesh.”

Marriage and Money

I know some people may disagree with the concept of having a joint bank account because of the possibility of their marriage not being successful. The thing is you should not enter a marriage thinking it will fail and that is why it is important to get counsel and discuss matters such as finances prior to marriage. Even when you face challenges during your marriage, you should try to get help. Of course, if there is cheating involve, you have biblical grounds for divorce even though some people forgive their spouse and work on their marriage.

Too many times in marriages, the focus is on “I” and not “us.” Always remember, you are one and so it is important to put your money together. Stop saying “I will pay the light bill and you pay the telephone bill.”  Just put your income together and pay the bills from your account.

There are some spouses that are not working, and one spouse may be making significantly more than the other. It does not matter the situation; your money is her money too and her money is your money is his money too. That spouse that remained home may not be contributing money directly, but that spouse is also working. He or she is taking care of the home, preparing the meals, helping the children, and enabling you to work those long hours so that you can make more money. Being a stay home spouse is a great thing and no value or money can be attached to that. If you were to reflect and assess your condition honestly, you will the reach the conclusion that had it not been for your spouse, you would not have been in that financial condition therefore you share your resources together. I know some people may counter argue and say that they are in a negative financial condition because of their spouse. However, you should not be blaming each other and that is why it is important to budget.  This may require one of the spouses to manage the finances especially if one of the spouses do not have the discipline and control. Ensure though that you are not hiding anything from each other. Be transparent and try your best to live according to your budget.

Conclusion

Even though I recommend having one of the spouses to be the manager of the finances, it does not mean the other spouse should not have access to the funds. The best thing is to co-manage but if one of the spouses has a control issue then the other spouse should step in the manage. Please do not use this as an excuse to abuse your spouse financially.

Whatever money you have, need to be together and whatever debt you have, need to be together. Take your marriage vows seriously as two people coming together as one. Respect each other. Love each other and share with each. Remember what is yours, is hers and likewise what is yours, is his.