By Vic and Avelynn Garcia

In my previous article I already discussed three reasons why we need to manage our finances.  Having understood these three reasons, I will now give you two more to complete the five.

Reason number four is “Because we need money to live harmoniously with others.”  According to relationship psychotherapist Paula Hall, the number one among the top five things that couples argue about is Money.

A lot of studies show that financial issues caused many of the recent marriage separations. While others will tell you that discussing their money problem to each other is the first step in resolving problems, it is not the end of it.

Marriage is a wonderful union of two people but living daily with financial problems with your spouse can lead to very unpleasant moments especially when arguments and disagreements arise.

Your husband felt so bad and expressed it to you openly that you spend too much on your bags, shoes and expensive perfumes but then comes home one day with a smile and a great surprise! He bought a complete set of home entertainment system using his credit card and brag about the good deal he got! You’re not happy with it. It puts the family to more debt and argument begins! Sound familiar?

When you are having an argument with your spouse, it seems like the love and commitment you promised for each other fade away. But don’t lose heart! The good news is that disagreement is a part of a healthy marriage if handled well. Continuing in this financial management series will make you learn more techniques in handling money with your spouse which will lead to a harmonious relationship.

Newlyweds may ask, who should handle our money at home, wife or the husband? How many bank accounts should we maintain? These are just some questions that I will answer when I discuss tips and techniques in the succeeding articles.

The bible says, “Make plans by seeking advice.” (Proverbs 20:18).

When getting married, the wedding ceremony itself will need a lot of money.  And it does not end there.  After that, you will soon have children. Mas magastos yan! Why? If you have a baby, araw-araw gatas, araw-araw diaper, monthly check-up, plus immunization!

Ito pa! One day, your children will go to school! Araw-araw, baon! There’s also tuition fee, miscellaneous fee, school supplies, field trip fee, project fee, and a lot more! Plus one day, your wife is pregnant again and you will have another baby!

Remember this, kapag nagpakasal ka, may libre pa!   Ano yung libre? May libreng byenan! Did you ever thought about your relationship with your in-laws? What if your in-laws will ask for you for financial support? What will you and your wife do? Kasama yan sa maraming pinag-aawayan ng mag-asawa!

When you were single, maybe you are just thinking about your own needs, maybe your parents needs, maybe that of your siblings, but when you’re married, there are many people that might be depending on you for support.

Moreover, marriage couple is not the only type of relationship that is affected by money problems. To name a few, it includes relationship to parents, children, siblings, relatives, in laws, friends, government, lender, and even employee-employer relationship!

On the corporate side, even companies have money issues.  Ano ang madalas pag-awayan sa kumpanya? Cost-cutting. What’s the cost? Money! Ano ang parating pinagdedebatehan ng union at ng management? Money!

What’s my point? Money is really a big issue, that’s why we need to manage our finances well so we will maintain having harmonious relationship with others.

Reason number five is “Because we need money for the future.”  So what about the future? This is what our future means… What if one day, you got sick. Who will pay for your hospital bills? Health card? Maybe because you are working and the company gave you that benefit.

But assuming, nawalan ka ng trabaho. Sino ang magpapagamot sa iyo? Ikaw na! What if your children got sick? Who will spend for their medical expenses? How about your wife? Hindi bat ikaw din? My question is, did you prepare for these eventualities in life?

My friend, one day it might happen.  Ang mga ito ang pwedeng mangyari bukas! That’s why you need to manage your finances for the future! The problem is, sometimes, people are not prepared for it which leads them to more trouble. The  good news is we can prepare for it!

The scripture says “The plans of the diligent lead to profit as surely as haste leads to poverty.” (Proverbs 21:5)

To make you realize the need to manage finances for the future, I would like you to imagine this. For example you are working and your company closed down today. That’s a big problem right? To make it worse, you have no retirement pay!

Having that scenario, imagine how long will you and your family live with the amount of money you have in your wallet and in your bank account/s? Ilang araw ang aabutin? That’s what I meant about preparing for the future!

Do you think this will happen? Did you prepare for it? Pinaghandaan mo na ba ito? Indeed, people do not plan to fail, but most often than not, they just fail to plan!

The problem lies when we fail to foresee what will happen.  One day you will be in shock and in deep frustration!

Added to that, growing old is a fact of life! It is something that we should be prepared not just emotionally, physically but also financially.  Handa ka na bang tumanda? Alam mo, ang mga matatanda, may theme song.  “tatanda at lilipas din ako, ngunit mayro’ng awiting iiwanan sa inyo, alaala.” …

If ever you will die today, what will you leave to your loved ones? Puro… Alaala! I hope good memories and not memories of debts to pay!

Do you know why a lot of rich people are getting richer and richer and poor people are getting poorer and poorer? The difference is the preparation stage!

Alam mo ba kung bakit ang mga mayayaman ay payaman ng payaman, at ang mahirap ay pahirap ng pahirap? Kasi ang mahihirap hindi pinaghahandaan ang kinabukasan. Ang mga mayayaman, pinaghahandaan ang kinabukasan. Kapag ang mayaman, namatay, mas lalo silang yumayaman.  Kapag ang mahirap naman ay namatay, lalong naghihirap. Gets mo ba?

I’ll give you an example.  A rich person died.  Definitely he already prepared for it and bought a life insurance and a memorial plan long before! His family is left with 10 million from insurance benefits instead of passing on the debts for the family to pay! Now, a poor person did not prepare and died with no life insurance and memorial plan.  What will happen? Pampalibing pa lang, uutangin na. So ngayon, pagpapalibing pa lang, maghihirap na. Wala pa yung paglilibingan, yung nitso. Kaya lalong naghihirap, kasi hindi pinaghandaan.

Here’s my point, all of us will die.  It will happen! Now, when it happens, are we ready?  Yun ang problema natin, at yun din ang dapat nating paghandaan. Para kapag mamatay man tayo, alam natin na maayos ang mga iiwan natin.  Its better for us to talk about this today because you’ll never know what will happen tomorrow!

I learned that people manage their finances well if they are clear and enlightened about the reasons why they need to manage their finances.

“Commit to the Lord whatever you do and your plans will succeed.” (Proverbs 16:3)

We are all stewards of all the resources we have, including our finances.  As stewards, we are accountable to its true owner – God himself.

Remember, if we were able to take care of what God has entrusted to us, we will be blessed more.

unleash-money-cover(Excerpted from Vic Garcia’s upcoming book, Unleash the Highest Potential of Your Money)

Vic Garcia is currently the President and CEO of Unleash International Corporation, a high-tech, high-touch, high-impact training company whose main mission is to unleash the highest potential in people towards success, happiness, and significance through the conduct of licensed and originally authored, world class, high impact training programs.  He has been in the business for more than 20 years and has gained the trust and confidence of countless organizations.  He is also the author of Unleash Workbook and Unleash Learning Systems.  His area of competence varies from work and life improvement, financial management, leadership, system, productivity, teambuilding, and other specialized seminars that will unleash the highest potential in people.  He served as a consultant and a management coach to a number of CEO’s and Leaders of different companies. He is often invited to different television and radio programs to share his expertise in unleashing the highest potential in people.

Learn and apply practical ways of Effective Financial Management through easy and doable techniques when you follow this series weekly. You can follow him on Twitter @UnleashMoney. You can also visit Unleash International website www.unleashinternational.com and Unleash International Faceboook.