The Right Team

Tomorrow is the start of the 'love' month, so I was thinking what I would write that would relate to saving and investing? Here it is... you CAN'T be wealthy if you don't have a good team, a family who supports and helps you achieve your financial goals. There is no way you can save if your husband or wife spends like crazy. There is no way you can save if your kids always ask you to buy stuff for them. Your family has to cooperate.

Do you know the number one reason for failed marriages? For fights between husband and wife? Yip you guessed it. MONEY! Normally it's a husband or wife who spends too much or doesn't earn any money. The problem is always the same.

I'm not a marriage counsellor but I know that a financially successful marriage needs both husband and wife to have:

• the same financial goals.
• the same attitude toward hard work and earning money
• the same attitude toward saving, spending and investing
• total transparency and trust with money related matters

If your marriage does not have the above then you better talk about it right away.

For people who are looking to get married. Take some time to do this BEFORE you get married! Sometimes people who are in love tend to forget to talk about the financial side. Remember a marriage here in the Philippines is lifetime. So choose wisely!

I have personally advised friends not to go through with the wedding or delay it if their attitudes and goals about money are not aligned. And I have personally witnessed failed marriages for those that did not heed this advice.

Of course a happy marriage is not all about money, without love there can never be a lasting marriage!

For more information on how I can help you email me on hoover@barongroup.com.ph.