Marriage is a beautiful journey, but it’s critical to start the rest of your life with your spouse on solid financial ground. Sound money management will strengthen your relationship and prepare you for the countless obstacles and blessings ahead. The good news is that following a few biblical principles of unity and stewardship can turn your finances into an act of faith and flourishing. In this article we discuss some vital steps for creating a secure financial future together:
Establish a Household Budget
You can’t have economic wisdom without developing and maintaining a budget. Track all your income and expenses so you know precisely where your money goes each month. Prioritize essentials (e.g., rent, utilities, groceries), and remember to allocate amounts for savings and tithing. Proverbs 21:5 reminds us, “The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty” (NIV). Think of your household budget as a roadmap that will help you side-step the plagues of debt and stress while optimizing your combined resources.”
Invest in the Right Types of Insurance
Insurance helps you to manage your risks and account for life’s unforeseen events. Take time to research various health, auto, and home or renters insurance; also, look into life insurance for an added layer of security to your spouse’s financial future in the event of misfortune. Such protections are expressions of love and responsibility toward one another. Remember what Ecclesiastes 4:9–10 tells us: “Two are better than one, because they have a good return for their labor: If either of them falls down, one can help the other up.”
Increase Your Earning Power
Practically speaking, having more income helps you secure a brighter future, and going back to school can boost your earning potential. Online degree programs allow you to excel academically without compromising your household duties or full-time jobs. Just verify that any program you consider is accredited and affordably priced. For example, taking the steps for a Master of Science in Nursing can yield a pathway to higher income while enriching your personal life, ultimately leading to long-term financial health.
Develop Financial Goals
It’s difficult to succeed in any area of life without a vision (Proverbs 29:18). You and your spouse may want to prepare for kids, save for a vacation, or purchase a house—whatever it is you hope to accomplish, setting goals will keep you motivated and focused. Make sure your objectives are achievable and time-bound, and regularly monitor your progress while acknowledging every success along the way.
Combine Finances
Having separate bank accounts has become more popular for married couples over the years, but there is undeniable unity that comes with combining your finances. Many couples discover that having joint bank accounts makes it easier to manage household expenses and savings. Talk with your spouse about maintaining transparency in your finances to ensure you remain on the same page and build trust with one another.
Start Retirement Accounts
The earlier you begin planning for retirement, the better. Take advantage of retirement plans offered by your employer, and contribute enough to maximize any matching amounts available. You can even open individual retirement accounts to deepen your savings. Being diligent in your retirement savings paints a beautiful picture of stewardship while laying a solid foundation for your future.
Work with a Financial Planner
Finally, hire a financial planner who can give you tailored advice for your specific goals and situation. When it comes to investments, retirement strategies, and tax planning, your advisor can help you navigate complicated economic landscapes while getting the most from your finances. Then, you can focus more time and energy on each other and less on money problems.
You and your spouse are weaving your lives together, so it only makes sense to intertwine your financial strategies with faith and foresight; doing so sets the tone for a secure and prosperous future. The principles and practices above are more than financial strategies—they’re signs of a life being built together under the Lord’s guidance. Along with developing material security, you and your spouse will nurture a relationship drenched in trust and mutual support. As Jesus tells us in Matthew 6:21, “For where your treasure is, there your heart will be
also.”
Author: Jennifer Sanders – healthlifeteacher.com