Topic: PROPER MONEY MANAGEMENT IN MARRIAGE- 2  By Pastor Faith Oyedepo Living Faith Church [ Winners Chapel] 1 September   2022

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PROPER MONEY MANAGEMENT IN MARRIAGE- 2

Dear reader,

Welcome to the concluding part of this teaching. I strongly believe you learnt a few tips on how to manage money in your home. In this series, we shall be examining the second part of the topic titled Proper Money Management in Marriage. Therefore, saving and avoiding debt in your marriage shall be our focus.

SAVE FOR THE RAINY DAYS

Couples should make it compulsory to save a percentage of their monthly income, at least 10%, for the rainy days, and this is why a budget is crucial. To do this monthly, it is necessary to consciously and collectively make adjustments and sacrifices every month. After paying bills that cannot wait (such as power, school fees and rent), couples should contribute to an emergency fund, and the earlier this is done, the easier it will be to retire someday.

AVOID DEBT

Working as a couple towards a debt-free life will benefit both partners. Nathan W. Morris said, ‘Every time you borrow money, you’re robbing your future self’. To avoid debt, avoid the impulsive purchase of items and don’t borrow to impress anyone. Too many people borrow to buy things they don’t want but to impress people. Bishop David Oyedepo has always said over and again, ‘Life is in phases and men are in sizes; so, live your phase per time’. Being dishonest about personal spending habits or keeping hidden debts is referred to as financial infidelity, and it inevitably destroys the trust that holds a couple together. ​

JOINT SAVINGS

An important consideration to make early in a relationship is whether or not to maintain separate bank accounts. Couples can have a joint account as long as they both agree on it and intend to be transparent in their spending. This does not mean that the woman may not have her separate account if they both agree to this. However, in family finance, there should be no ‘his’ and ‘hers’.Both should have access to each other’s money and where there is a joint account, no one should spend money without informing the other. Couples can manage their money with separate accounts, a joint account or some combination of the two.

Also Read: Open Heaven 1 September  2022 Daily Devotional By Pastor E. A. Adeboye – FAKE FRIENDS 

Moreover, budgeting a certain amount of cash into individual accounts each month is a way to lessen the guilt about spending on personal items and reinforces accountability. A joint account makes budgeting simplest but can lead to more conflicts if partners’ spending habits don’t mesh.

However, to enjoy a hitch-free marriage, especially in the area of finance, you need to be rooted in God. If you are not born again, you need to accept Jesus Christ as your Lord and Saviour. If you want to surrender to Christ, please say this prayer of faith: Lord Jesus Christ, I come to You today. I am a sinner, and I cannot help myself. Forgive me of my sins and cleanse me with Your Precious Blood. Deliver me from sin and satan to serve the Living God. From today, Lord Jesus, I accept You as my Lord and Saviour. Thank You Jesus for saving me! Now, I am Born Again.

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