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Showing posts from November 30, 2011

Role of Your Spouse in Personal Finance and Money Management

In most of the Indian families, the personal finance is something which is not managed by the couples together. It is only one person who manages the personal finance and money management of the whole family. In most of the cases the male partners and in a very few cases the female partners mange personal finance. Only very rarely both of the partners together manage their personal finance aspects.What would be the outcome in an organisation where the purchase department works totally independent and without any understanding with the finance department of the organisation? Purchase dept may overspend; finance dept will lose control; misunderstanding and conflicts between both the depts; the result is the organization’s growth gets destroyed.Similarly, if the personal finance is handled by only one partner, then there could be a lot of mismatch between you and your partner in saving and spending pattern. This will lead to misunderstanding and marital stress. Instead of having independ…