The 10 Indispensable Money Talks For Young Couples
As young couples desiring to join the great institution of marriage established by God (Genesis 2:18), it is very important to love each other in order to have a peaceful and blessed family (Ephesians 5:33). Nevertheless, another strong pillar of a stable marriage is finance (money). It is not proper to be unable to provide for the needs of one’s family (1 Timothy 5:8). Many marriages got broken as a result of failure to meet up with the financial responsibilities due to one reason or the other.
In view of this, the following 10 indispensable money talks for young couples are kind-of advice that we would like to recommend for young couples who desire a sound financial future and are serious in that pursuit. It could be a lifesaver for many smart couples. With that in mind, let’s go ahead!
1. Consider financial capabilities when planning on wedding ceremony:
Many young couples are more concerned about the wedding ceremony which is just for a day or a number of days rather than a lifelong marriage. An elaborate wedding ceremony is honorable if the couples have enough funds or support to make it happen without running into debts and have more for the life afterward. Therefore, young couples need to put into consideration their financial strength before opting for an elaborate wedding (Luke 14:28).
2. Decide on the number of children to bear:
Children are wonderful gifts from God and no marriage is complete without them. The Holy Bible in Psalms 127 verses 4 and 5 likened children to arrows in the hands of a warrior and stated that a man who has full of them is blessed. However, the economic situation of the nation makes it important for couples to plan well on the number of children that they can take care of conveniently based on their available wealth and the sound family practices and measures they adopt.
3. Consider each other’s genotype:
Young couples are sometimes carried away by either love or lust and tend to ignore this very important factor before getting married to their spouses. As proven by medical practitioners, there is the possibility of giving birth to a child with sickle cell anemia if couples who are both of the genotype ‘AS’ get married to each other. This may affect the financial future of the family as they may end up spending so much on trying to save such a child. According to the saying; Prevention is better and cheaper than cure. A wise man senses danger and avoids it while the foolish ones run into it. (Proverbs 22 verse 3).
4. Sharing of responsibilities:
Men are traditionally known as the breadwinners of families. However, as the financial needs of the family get higher and depending on the financial strength of the man, there may be a need to share the responsibilities between the couples in as much as the woman is gainfully employed or self-employed. Kudos to all wives who support their husbands in the ever-increasing responsibilities of the home. There won’t be a problem in doing this if both are in agreement (Amos 3 verse 3, Ecclesiastes 4 verse 9).
5. Identify the difference between your needs and wants:
Needs are the necessities of life while wants are the other things we wish to acquire but may not be so important at a particular time. The couples should be able to differentiate between the two to avoid being wasteful by spending on less-important material desires at the expense of very crucial needs. At some point in time, knowledge of Economics should be applied using a scale of preference and opportunity cost (Proverbs 21 verse 20).
6. Invest wisely to save for the future:
Using the ants as a case study, despite being tiny creatures, they gather their food when they could and store them which makes it possible for them to have enough to eat when they can’t go out for more (Proverbs 6 verses 6 to 8). As young couples preparing for marriage, it is necessary to invest and save for the future. This also relates to having a ‘Plan B’ in case of any unforeseen situation that may happen to the current source of income so as not to put the family in a financial crisis.
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7. If possible, choose a system of operating bank accounts:
The book of Mark 10 verses 7 to 9 explained that two couples shall become one flesh. This is a fact because whatever they do should be done as one and towards a common goal. However, Operating joint bank accounts or separate accounts should be a subject of discussion a couple must have and both should agree on what system they bank their money.
Some couples love having separate bank accounts, while another set of couples loves operating joint accounts. In no way should this be a bone of contention to the couples. It’s true that one man’s fish is another man’s poison, as the saying goes. Whatever method they choose, whether separate or joint or both, there should be in one accord of their choices, and the accounts must be operated with utmost prudence, sincerity, and faithfulness to one another other.
8. Avoid imitating other people:
One of the major causes of the financial crisis some families face is imitation. Some married couples are fond of doing what other families do without considering whether it works for them, which makes them bite more than they can chew. Although every parent desires the best for their children, it doesn’t mean that because Mr. and Mrs. Tom enroll their children in one of the best schools in town, Mr. and Mrs. Jerry too must do the same if they cannot conveniently afford it (Philippians 2 verse 3). Always cut your coat according to your size.
9. Try as much as possible to avoid running into debts:
No loan is free. It takes money to borrow money. Obtaining loans or other forms of credit facilities from financial institutions is not really a bad thing you do, but one must consider the purpose, and ease of repaying, among other related factors, before venturing into it. It is so unpleasant when it becomes difficult or impossible to repay and the collateral securities are being taken possession of by the financial institutions. The Bible even admonishes us to pay back every debt we owe others (Romans 13 verse 7).
10. Avoid extra-marital affairs, especially on the part of the man:
Many men are the cause of the predicaments that came upon their families in terms of finance, as a result of their extra-marital affairs. Some men, because of adultery, have children out of wedlock and had to fend for them. This put extra pressure on the family finances. These men, in addition, may end up falling into the hands of ‘gold diggers’ who don’t care to destroy a happy home.
Some ‘side so-called chicks’ will pretend to love the man until they milk his wealth to a great extent and dump him. It can also happen through the wife too. Generally, God is against extra-marital affairs and couples should stay away from them to avoid financial constraints, and the judgment of God (Hebrews 13 verse 4).
In conclusion, do consider these 10 Indispensable Money Talks For Young Couples, but don’t forget the fact that God is above all. He’s able to do immeasurably more than all we ask or imagine, according to his power that is at work within us (Ephesians 3:20).
Psalms 127 verse 1 says, “Unless the Lord builds the house, the builders labor in vain. Unless the Lord watches over the city, the guards stand watch in vain.” Without God, there is no way a marriage can stand firm in terms of tribulations, no matter how we try to apply our wisdom. I pray that God Almighty, who is the greatest provider, will grant all existing and aspiring families sound financial strength in the name of our Lord Jesus Christ. Amen.