7 Secrets to financial success as a couple/ 7 Principles we Use to Manage Money as a couple

It either turns them off or pushes them to go ahead and pursue this person So having an open conversation about money is truly essential In marriage you must come together because marriage is about unity You know it's not just about him or her but you're uniting to make this thing called marriage work So when it comes to finances Why are you doing this For this reason For this What about it For this Wamba as for this just wamba more use more wood He is the one That' s the truth and the situation Now by doing by using this strategy In this country the wind from the south is blowing and the wind from the south is blowing o here to calm the pain she took Miyako here to ease the pain from the west Bukea on the hillside she sat down Lift the front edge of the mat fold it back tuck it under the mat and secure it in place ali Such is the terrible fate of those who dwell here here in this desolate place consumed by despair So we're all on the same page right So what's the plan then The wind and power within me as I speak today carry me far beyond here Thus the pressure on the power grid Therefore the blackout caused by overuse Hi love Planning and budgeting are incredibly important as a couple and it's really helped us darling Yes actually this budgeting could easily be its own video It could stand alone because as Doris has pointed out something very important has been said The longer you stay together or the longer you're married the more you need to plan for retirement—and the more essential it becomes to have a solid investment strategy The 50-30 rule is simple: save at least 30% of your earnings Exactly right So budgeting is truly essential and it's really helped us And that brings us to the next point about who should manage the money Yes Who do you think should handle the finances We both manage the money Hey let us know your thoughts Do you think it's the person Thus when their bodies and minds are at their peak at the most favorable time At the right time their time and the right moment for the body's strength So when the time comes when it arrives This is the beginning of a new journey The plan is to proceed And I want you more Let's hurry up with the preparation e tsunami came so suddenly in the midst of peace when I was about to leave my own departure from the pages of the book what as if it were Ndianye Parasi These are the times times Just a moment So the clock strikes two two On the fifth day the child and the fifth day all your days are fifth For now Doris this is what we've decided works for us But you'll find there are some couples out there who prefer to split things evenly like 50-50 okay For instance if the rent is probably 2 million They'll say okay like the other person meets one millio and the other person matches 1 000 000—1 000 means a 50-50 split So some couples find it easier to do it that way So we're sharing what's worked for us because I've heard from several couples who've experienced this I mean they do it on a 50-50 basis and it's fine with them When they go to the restaurant this couple will cover the cost this time and the other couple will cover the next occasion so it works for them So it's not a one-size-fits-all approach but according to the Bible it states that when We come together and get married and what do we become One We become one Okay moving on to our next point It's always extremely important Dorrie talked about partnership Okay we're partners We're teammates We need to value each other in this Opinions matter when making decisions We need to value one another—just think about how it feels when you don't feel valued A partner can eve shut down and stop talking because the partner feels he isn't being respected whenever perhaps she tries to bring up an idea of how we might possibly She’s really into holidays you know She says that’s my strength—it’s always my top priority So whenever she comes to discuss our next holiday with me and suggests this place I shouldn ’t tell her not to talk about it or respond to her harshly as that would only make her Every time she feels she should offer an idea she says "I mean there 's no point " She doesn't feel valued which causes her to withdraw So I shouldn't fight my team You know in a football team or any sports game you need to work together Work as a team and when it comes to marriage it's no different We are a team we are partners so we can't Fight our partnership We need to support each other Whenever she has an idea I back it Whenever I have an idea she supports me That’s how you build something lasting strong and you grow stronger and even making decisions becomes effortless So guys moving on to another point we need to avoid another practice we need to steer clear of in marriage When it comes to finances secrecy is a red flag Being secretive about money—red flag green flag Because being truly secretive is about trust about respect—not even about money anymore since the fact that I trust you with my finances We’ve shared a budget together and made a plan on how we’ll handle all our expenses which means everything is covered There’s no need for me o be secretive about finances which often happens when you consider your extended family the individual families you come from and feel obligated to support your own family moreover perhaps it's something your other partner isn't supporting either and then you feel you have to handle it yourself Maybe you receive a bonus you don't even share—keeping it for your own personal use or making a purchase without discussing it with your partner Guys yes some people say I don’t want to get married because I feel like I’m in a prison Marriage isn’t a prison—it’s about transparency If you have a partner— who's listening to you and you say okay we have this expense that we feel we should probably take care of for our extended family so we set aside about 10% to cover It will handle such matters on its own and there's nothing to hide Also for instance if your partner you will find out that you did something behind his back such as making a purchase without telling him or keeping a bonus or any payment hidden from him which will click in his mind that you've been doing this all along and that will create trust issues between the two of you including even getting loans like borrowing money to finance for something you never discussed with your partner and in the end you lose your home—it can truly be that significant a problem and this can truly lead to break up in marriage So let's avoid being secretive Let's be as open as possible whatever it is put it out there to your partner and let them deal with it and then you'll Find a solution together Yes actually when you realize you're holding onto those tiny little secrets you don't want to share with your partner you're in for a whole lot of trouble ahead Yes here we are Point number six One thing you should avoid to prevent problems and issues in marriage is not combining finances When you combine finances you'll find that you're either enjoying a smoother more seamless way of managing your life together or discovering an easier path to operating as a couple For example my wife and I have a joint account This joint account helps us understand that the money in it is for our family vestment We know that this is precisely what will support our future investments You' ll find that you're achieving That sense of unity you've built is helping you accomplish more—you're actually reaching the goal you've set for yourself Remember you're not getting younger—you're getting older and the older you get the more you need to stay focused We have separate accounts into which for example our companies deposit our salaries Our companies pay us different salaries into these individual accounts but we also have a joint account dedicated to investments Our separate accounts also help us share Every month she handles certain responsibilities—likely taking care of the children of the groceries I'm handling either the loans or possibly our investments eeds because we need to pay other bills Let's say the investment bills or the expenses You'll find that every one of us has his own department or he has his own responsibilities to manage She has her own books to keep up with and she stays on top of them She budgets and I handle my own budgets too Then every month before the 5th we sit down—must do it Yes and we share Okay how’s your department How is my department doing Remember this is about togetherness —pooling our resources so we can move forward together We can plan for the future and that helps us This togetherness enables us to avoid conflicts She brings her book I bring my book She checks my book I check her book We are both answerable If there are loans to close Which loan should we pay off Or should we even take a loan at all— if so which one or should we avoid borrowing altogether It's about having a shared mindset As I mentioned earlier some couples choose to split things evenly—50-50 Others find their own unique way of managing things That works for them but to avoid conflicts it's always essential to be on the same page Remember the Bible says tha She comes from her parents I come from my parents and together we become one That’s how we run our family—on this principle Exactly and perhaps to add to that sometimes a couple might not feel the need for a joint account but for me for us the bottom line should always be accountability—there doesn’t have to be a joint account if you don’t want one or you don't feel it's necessary but at the very least you must be accountable Everyone is accountable Yes he did mention the books I'm telling you all those books We take this seriously Before the 5th we're here and I have to account for how every single penny was spent and there should be a budget for instance if it's for groceries and we set a certain amount it should not go over that limit Otherwise if it exceeds We're going to have an issue—it's inevitable that everyone protects their own department and sometimes we even end up borrowing from one another I might be struggling in mine And then he’ll help but I’ll have to pay it back—something like that has really helped us stay strict with our finances We all want our departments to thrive o flourish I proudly arrive with my books and I think yes I have savings I have surplus here and he also says I've accomplished this this and this and in the end it's a win-win situation Overall we're all winners and we're all accountable to This marriage and the finances of this family Absolutely And it's worked very well for us keeping us in check I'm sure there's probably someone out there saying no this is slavery it just doesn't work especially for men Bringing your book showing your wife—I'm sure We'll meet them in the comments but you know what Everyone is answerable to their own family At the end of the day I have to find what works in my family and you have to work to see what works in your family This has brought us together This has reduced conflicts when it comes to managing our finances Yes and this is one of the lessons we've learned along the way So everyone we'reaching our grand finale Our grand finale is spending quality time Spending quality time together is essential without it it becomes a financial issue not just about enjoyment but about creating a comfortable space to share finances Exactly When you're there in fact most of the time—when we're on a date or doing anything at all—do you realize we're talking about money finances our dreams We're talking about that investment that investment— what are we going to do We're like oh I think we should change that plan We should do this or do that Most of these conversations by the way happen when we go out and talk about it because it's important at you understand marriage is a long-term commitment You're in it for the long haul so you need to build a strong connection with your partner as you grow together Kids you've got a growing family and growing investments I mean maybe you've already invested in two major things like property and bonds and all that comes with it You have so much invested Can you even imagine the aftermath of putting in so much only to end up divorcing It's truly painful I mean it's nice to build this empire together this family to grow together in every way So you have to protect it by spending quality time together investing in your relationship deepening your bond and getting even more creative about how you'll retire you'll also be taking care of your grandchildren You have all these dreams but without connection those dreams will never become reality That means you need to stay linked and you know how expensive divorce can be—some people face huge costs lose everything they have simply because of a single divorce And it's painful So why not spend quality time together and grow as a family while also building greater financial stability Stay together instead of falling apart Exactly guys That brings us to the end of this video We didn’t want to make it too long but I'm certain there are countless points you've had or learned Along the way in your marriage or in your experiences please share them with us so we can learn from one another Bu Marriage is a precious gift from God and we must intentionally nurture it to keep it thriving Absolutely Yes guys Yeah So this brings us to the end of this video and Please go ahead and like subscribe and share with all your friends and yes we’d love to hear from you in the comments—let us know what you think what are your thoughts on this yes and if you have any other topic you'd like us to discuss or anything else you'd like to talk abou Please feel free to ask us any questions—we’ll make sure to address them and provide clear answers and we're here to help if you need any assistance Yes let's learn together let's grow together yes So thank you so muc Thanks for watching this video Until next time Ciao