Managing Family Financial

Money is often a cause of divorce. Disputes about the finances can only occur in times when money abundance or lack of money. Indonesian people feel uncomfortable having to discuss financial problems within the family. Therefore, we feel the need to continue to call upon all people, especially married couples to learn each other openly about their finances. We strongly believe that everyone has a view about the different money because the husband or wife was raised in different environments. Failures in talking about money in the family potentially cause problems.

Many people feel that talking about finances in the family is taboo. However, in our opinion, this fact should be discussed. These circles ever think, Is to let the financial issue within the family will complete a protracted everything? Or it could become a snowball that continues to grow? Small problems can become big if not addressed and resolved wisely. Therefore, in terms of family finances badly needed a management scheme where each individual in the family (husband and wife) have the rights and obligations of each. With the division of responsibilities and in-depth discussion can alleviate problems that may arise in the future.

Here are three types of management where you can choose according to your wishes with your partner. Of course there are many more existing management patterns. The most important thing here is the mutual openness and family life with a shared responsibility.

1. Money together and Envelope System

Combined income of husband and wife live together. After that, a combination of both direct revenue is allocated to routine expenditure items which have been calculated first. Typically, each heading is represented by a single envelope. Expenditure items that, in some families, not just eating and drinking and household needs, and electricity alone, but also includes pay for a home mortgage, car payments, electricity, telephone, child's school fees, insurance and need a car (petrol, regular service, damage, etc.). Even savings, personal expenses and vacation father-mother became a separate envelope. If there is remaining, put into savings husband or wife, or more specifically open a joint account at the bank to accommodate the rest of the envelope every month.

2. Dividing By Percentage

This form of management is to divide the responsibility in the form of the number or percentage of whole family needs each month is calculated including the postal savings and postal emergency. Each agreed to contribute a certain amount to cover those needs. The remainder is used as a personal savings to personal needs. For example, the wife to buy perfume, lipstick, or dress. It could also not counting the family's needs first, husband and wife contribute the same based on the percentage. For example, 80:20. That is, respectively, Äúmenyetor, Äù 80 percent of his salary. The remaining 20 percent is saved for yourself. If you can save money, the money together, which is 80 percent, can be left to the family savings, in addition to husband and wife also each have a personal savings.

3. Dividing Responsibilities

For example, a husband to pay for affairs, Äúberat, Äù, such as paying mortgage, car payments, electricity, telephone, school fees of children, needs a car, and insurance. While the wife is spending monthly logistics, home knick-knacks, snacks, and holiday weekends and postal savings. Judging from the amount, husbands bear more funding. But she also had a role in the contribution of household funds. If it turns out the wife who has a larger income, this should also be done vice versa.

Which is best? It is highly influenced by the habits and of course an agreement between husband and wife. Discuss this with each partner, for the financial problems the family is no longer a problem in the family.

If the wife does not work? How?

The third example above is the pattern of allocation of income of husband and wife. Where husband and wife work and generate regular income every month. How well if only the husband or wife work? While other couples staying at home?

If this is a pattern in your family's finances would be very good if you and your spouse discuss the duties and responsibilities of each. Maybe you as a husband because of work that tries to meet all the needs of families. While the wives who stay home are responsible for the household, ranging from the question of expenditure to the allocation of regular monthly savings (from the husband's income) for a variety of family-owned financial goals. In this case the wife should be like a manager in a company.

By dividing a shared responsibility, the husband no longer felt more than a wife. Since the two individuals in these families have their respective responsibilities. For that openness and discussion about the finances become indispensable.

Three important things in managing joint finances

First, the division of labor is needed in terms of managing finances. Examples in short, who pays all the daily needs of households. Suppose you as a wife who must pay for the husband in this case must transfer sufficient funds each month to meet all financial needs of the family.

If you decide to delegate one person to pay all monthly bills then the family the important thing to consider is the honesty. Where you both must be open to one another with regard to money problems. Do not get when you use the joint account and one of you take a huge amount of funding and did not tell you pasagan. Once your partner need for a very important thing and that was available was not sufficient.

Second, the agreed expenditure is vital. You both need to agree on spending plan. This is usually related to expenses that are not fixed, for example the decision to replace with a new car after a few years? Or what you both think about with regard to vacation? In conclusion, you should discuss and agree on the need to be fulfilled, what is the common desire and what you can meet.

The last thing that becomes very important is saving money. In this vision of the future becomes very important. Where the goals that you and your partner will determine the motivation and the selection of strategies that can help you achieve your future goals owned. That way you will also see the importance of allocating funds currently and starting right now.

Thus a brief review about money in connection with the marital relationship within the family. May provide input and additional knowledge for you.

Muhammad Ichsan, ChFC, MsFin
Source Pembelajar.com

* Muhammad Ichsan, ChFC, MsFin, is parkitisi and academics in the field of financial planning. He is the Managing Partner and Director of Program PrimaPlanner IFPI, as well as teaching at Ubinus and STAN. Ichsan can be contacted via email: ichsan02@yahoo.com