Four powerful tips to help couples master their finances

Four powerful tips to help couples master their finances

Dr Didah Mokwena and his wife Phanthi Mokwena share tips to help couples enjoy a healthy marriage where finances don’t cause strife.

Couple arguing about finances
Couple arguing about finances/ iStock

Money has been proven to be one of the top three reasons why couples divorce.

Many people don’t see eye-to-eye when it comes to the handling of finances. This can cause strife in a marriage.

But knowing the keys to dealing with finances in marriage is one of the best things you can do for your relationship.

This is why marriage counsellors, Dr Didah Mokwena and his wife Phanthi Mokwena, say finances should be discussed in the early stages of the relationship.

“Finances are a vital part of the marriage, knowing your partner financial status and money personality is very important,” says the couple.

READ: "Why financial literacy matters more than ever, right now"- Finance whizz, Nicolette Mashile

They add that couples should be transparent about their earnings.

“Being transparent about your income helps you to budget well and it also shows responsibility and accountability,” says the couple.

Below, they have shared four tips to ensure that finances do not negatively affect your relationship.  

1. Money can be a servant, or a horrible boss, don't let it control you.

2. Don't ever refer to is as my money or your money, treat it as our money.

3. Understand the importance of having money. Don't make it the centre of your marriage.

4. Be accountable to each other when it comes to spending habits. Transparency is the key to having a peace of mind.

READ: Should a couple manage their finances separately or together?

Image courtesy of iStock/ @Fizkes

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