Love's Financial Risk and Rewards
Most people view marriage as an agreement to love, honor, and cherish another for the rest of their lives but that is only one side of the equation. Marriage is also a business arrangement wherein the two of you will now be a corporation. All of your business affairs will be incorporated together. When either one of you want to purchase or liquidate the major assets of your corporation, you will need the cooperation of your spouse.
Recognizing now that every marriage is a business, we must realize that every viable business must have a vision, mission and a budget plan detailing how the business with acquire and disburse its funds. The principal owners of the business must already have a vision, established the mission, and developed their budget plan before forming the corporation. However, most couples spend too much time planning their wedding rather than planning their marriage or business operation.
Therefore, they either never develop a plan before hand or they try to formulate it after uncoordinated spending has created a crisis. Bad financial management is the leading cause of business failure and divorce in America. It would be wise, then, for couples who are preparing to spend their lives together to plan how they will spend their money before they get married.
The two main financial rewards of marriage are division of labor and economy of scale. Single people have to do all the domestic labor and pay all of the bills alone. Married couples can split the chores and split the bills. Now, the housework takes half the time and it costs half as much to live because two can live cheaper than one. The money saved can be invested to make more money and the time saved can be used to make more money.
The extra money and extra time can also be used to open an actual business. Each person was born with inherent knowledge, gifts, talents, and abilities that if mined and marketed properly, someone would pay you for handsomely. Your spouse can be your passport to financial success if you understand how to market and manage their assets.
Individuals can get rich but strong committed partners working together can create wealth. Family is the primary organization for wealth generation. Every family can be wealthy. You can read my next blog “Money DOES Grow on Trees” to see how this works. It will work for everyone who puts it to work.
Recognizing now that every marriage is a business, we must realize that every viable business must have a vision, mission and a budget plan detailing how the business with acquire and disburse its funds. The principal owners of the business must already have a vision, established the mission, and developed their budget plan before forming the corporation. However, most couples spend too much time planning their wedding rather than planning their marriage or business operation.
Therefore, they either never develop a plan before hand or they try to formulate it after uncoordinated spending has created a crisis. Bad financial management is the leading cause of business failure and divorce in America. It would be wise, then, for couples who are preparing to spend their lives together to plan how they will spend their money before they get married.
The two main financial rewards of marriage are division of labor and economy of scale. Single people have to do all the domestic labor and pay all of the bills alone. Married couples can split the chores and split the bills. Now, the housework takes half the time and it costs half as much to live because two can live cheaper than one. The money saved can be invested to make more money and the time saved can be used to make more money.
The extra money and extra time can also be used to open an actual business. Each person was born with inherent knowledge, gifts, talents, and abilities that if mined and marketed properly, someone would pay you for handsomely. Your spouse can be your passport to financial success if you understand how to market and manage their assets.
Individuals can get rich but strong committed partners working together can create wealth. Family is the primary organization for wealth generation. Every family can be wealthy. You can read my next blog “Money DOES Grow on Trees” to see how this works. It will work for everyone who puts it to work.
