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Channel sponsored by
Achint and Mohan Kapur
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Money is the number one cause of arguments among married couples, yet surprisingly few address this issue. Now with both the partners being earning members, planning finances is a big responsibility.
It is imperative that couples discuss important issues, such as handling debt, buying a home, planning for kids and retirement, creating a financial safety net with insurance and emergency funds.
Shaaditimes spoke to couples to know how they handle this sensitive issue.
Achint and Mohan Kapur
Do you consult each other before taking any important financial decision?
I do consult her every time, but she just checks with me. She is the decision maker when it comes to finances. Even if I have to buy a shirt, I ask her whether I should withdraw cash or use a credit card. In fact, she even puts money in my wallet. I am really ignorant about my finances, but she is just too good at it, and hence, I do not have to worry.
Who manages the finances?
She solely manages the finances. As I said before, she is the decision maker. I don't even know how much money do I have in my pocket right now!
Do you hold individual or joint bank accounts?
For feasibility sake, we have only one joint account, but otherwise, we maintain separate, individual accounts.
Have you planned for the future?
Not much. Frankly speaking, we are very spontaneous. We have often made impromptu plans. We think about the future, and take advise from our family and friends, but if we decide we want to go on a holiday, we just go without thinking much about the savings. She plans everything. But I have realized that a larger perspective is needed for the future. We have made some investments in medical insurance and the like, but that cannot be counted as future planning. What we need is proper investment guidance for a secured future. So we are definitely considering various options.
Have you ever fought over money?
We never fight over finances. Never. I have given her the complete authority over my finances because I know she has an amazing sense of planning. So, her word is the final word. In fact, we have positive arguments. Like recently, I wanted to buy a laptop. I weighed my resources and thought this would not be a good time to spend so much money, but Achint suggested that we could afford to buy a laptop. Even when I told her that I am looking for an expensive laptop, she figured a solution in no time at all. That's the kind of relationship we share.
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