A Personal finance blog for saving money and earning more and thus having a better life
If you’re serious about saving money for the future, congratulations. Not too many people are like you. Interest rates are low and consumerism is America’s favorite pastime.
Chances are your spouse doesn’t share your views on frugality. Everyone around them is planning vacations, buying new homes, and bragging about their latest purchases. It makes it seem like everything is fine when really it isn’t.
What will happen to your property if you die without a will and how will this affect the ones who are supposed to be your heirs?
The consequences of a property owner dying without making a will depends on how much property is owned, the location of the said property, if there are debts left behind by the owner, and if there are rightful heirs who survived.
Managing finances is a very sensitive area in marriage. Statistics show that 90% of marriages fail because of failure to manage finances responsibly. Many words have been said, lots of advice have been extended, and various ways were suggested in order to manage money. Yet, the question remains, how should we manage it? And, when one manages it, how can the other one trust the other partner?
Before answering that question, you have to embrace the fact that when you tied the knot, two of you become one. What are yours become your spouse’s possessions too. You cannot divide your properties and limit each other to specific properties that you want to share then keep what you don’t want to share inside your locker.
How many times have you begged your partner to get better at managing the family finances, only to have her/him roll eyes, shrug shoulders and beg off being capable of handling such responsibility? It happens all too often between couples. One manages the money the other mostly takes care of the household business, for lack of better word.
In our home, I am the financial decision maker, SMB doesn’t have much interest in knowing our tax bills or investment returns.