On love and financial planning



THE month of February of love is the best time to show affection to your partner and loved ones. Back then, most of us would probably have planned dinners at a fancy restaurant or sent flowers to your loved one’s place of residence or work.

But what if you’re struggling financially right now and can’t give gifts? Does this mean your relationship is doomed or is this a test of building a stronger union?

For this article, I’m going to outline ways that can help couples have a better financial future together.

The first important step to strengthening a couple’s financial future is to communicate with each other, even in the smallest details. This applies not only to emotional matters, but also to financial matters. Let me give an example.

Let’s say you lost your job and recently found a new job delivering food to support your family. You are about to go to your first day of work but learn that the delivery box assigned to you is not yet available. What do you do then? You discuss it with your partner and maybe you both can find a way to make the job work. As a temporary solution, he can help you as the carrier of the package. It might not be the most romantic setting, delivering packages together in the scorching heat of the day, but these types of acts prove that you’re working together for your common future.

The second thing to do is to assess your financial situation as a couple/family. You don’t need to bear the financial burden alone. If you involve each other in your financial affairs and work as a team, it will be easier to achieve your family financial goals and your union will become stronger. If either of you can cook, then maybe your partner could be the marketing or the waiter. Even if you both have separate or distinct career paths, you can still plan things together to improve and increase your prosperity.

For the third piece of advice, it is: do not spend too much or, rather, only spend what you can afford. If you really don’t have enough budget to buy an expensive bouquet or dine at an expensive restaurant, there are plenty of other inexpensive ways to show your devotion and love, as long as you’re willing to put in the time and effort. efforts. Set up a romantic dining table in your home, add candles, learn how to cook soup, and learn how to sweeten a more affordable cut of steak. You don’t have to buy A5 Wagyu beef to have a tender, tender steak; there are cooking methods that allow this. Before moving on to step four, it’s best to realize that cutting expenses can’t be an eternal solution. While being thrifty in itself is a worthwhile virtue, one must also focus on growth.

So, the fourth tip is to grow together in achieving your family goals. Work harder to get that promotion; develop your talents and monetize them to have multiple sources of income; helping each other to grow your career and your business. With a stronger financial base, the better your chances of achieving your goals. Plus, the stronger your partnership and bonds grow, the more challenges you are able to take on (and possibly greater rewards to come).

“Ecclesiastes 4:9: “Two are better than one, because they have a good return for their work: If one of them falls, one can help the other up. »

If you would like to learn more about personal finance and how I could help you, please follow, like and subscribe to my upcoming Youtube channel: OhMyFinancePh.

Raymond Anthony Quisumbing is a Registered Financial Planner of RFP Philippines. Follow him on Twitter at OhMyFinancePH. To learn more about personal financial planning, attend the 94th RFP program in March 2022. To inquire, email [email protected] or text at 0917-6248110.