Forgiveness

Wives, I interviewed Enrique Pascal last week on Money and Marriage Xposed and this Brother shared the real about forgiveness. We didn’t even get to the forgiveness and finances part; however what he shared was dynamic when it comes to individuals and marriages.

I want you to listen to this interview if you struggle with unforgiveness because he clearly gives you a step that you can take to make it better. Furthermore, he shared about why marriages are under attack. Let’s face it they are even moreso now than I think they have ever been before. I agree with what he has shared and hopefully within the next few weeks will have him on for Part 2 and address the remaining issues.

Go to this link below and I highly recommend just listening and then listen a second time with pen and paper. Below is the link to listen to Enrique Pascal teach on forgiveness. I have not ever heard forgiveness taught like this and you deserve to hear it for yourselves. What was shared could definitely impact your relationship.

Lack of money impacts behavior

Oftentimes a lack of money impacts behavior and it doesn’t matter if it is the husband or the wife. The stress of not having enough money to pay bills, take vacations or even purchase necessities can cause people to act out of character. Think about it… when is the last time one of your girlfriends contacted you and was complaining about her husband and finances?

What do you think after listening to her? Did you agree with what she was saying and how she handled the situation? Or did you offer her a suggestion on a different way of sharing with her husband about their financial stress and current issue?

When you think about your own marriage, as the Wife CFO how do you behave when there is a lack of money? Does your behavior change, your words or even you attitude? Remember Wives, you set the tone for your households. What you think, say and believe about a certain situation is what everyone else will think, say and believe. Choose your words carefully, as well as your actions.

If there is a shortage in your marital finances, then you can take steps to address the shortage and work on having a surplus. For example:

1) Review all of the marital expenses – automatic deductions and all monthly expenses
2) Do not forget to include recreation expenses – restaurant eating, movies, etc.
3) For the next week, write down everything that you spend money on. (You might be surprised at how much is being spent on wants versus needs i.e. – vending machines, frozen coffee, smoothie etc.)
4) Where can you cut costs? Take steps to cut those costs so that you can have a surplus.

I strongly recommend if you have a surplus that you do not turn around and use that for “fun money” but apply it towards a bill, emergency account or vacation fund. This way you are working towards a financial goal that can impact the marriage and family.

Spouses Investing Apart

Giving what is and has been happening in the economy, it is important that Wife CFOs stay on top of financial news. So many marriages and families were impacted negatively from a reduction in pay, some lost their jobs which caused them to not be able to pay their bills or become late in paying their bills for the first time and some lost their homes.

As I was reading tonight, I read an article titled Spouses Who Invest Apart and it shared pros and cons. The article was sharing how women are outliving men and receive lower Social Security which was a reason for investing apart. However, a con to investing apart is that couple could end up paying double commissions for the same stock.

Wives – let’s really take a look at this objectively and let me know what you think. If you and your spouse both work outside the home for someone else – more than likely you have a 401(k) which would be separate and not joint. Is that not correct? If one of you work outside the home and the other is a self-employed business owner, if you have planned both of you can still have retirement accounts. There are retirement plans for self-employed business owners.

Recommendation: Do your research as to how investing separately would affect your taxes now and in the future? Know the tax implications.

Also what is your motivation if you choose to invest separately? What do you hope to accomplish? Only you truly know what is best for your family. Do not disregard the tax question it may very well give you a new perspective when it comes to investing.