Our Financial Future

The gals over at 5 Minutes for Mom have invited me to participate in a compensated campaign with Genworth Financial. This campaign is to raise awareness among moms about the importance of taking an active role in planning for their financial futures.

Do you take an active role in the planning of your financial future?

My grandparents were married for over 50 years. They owned a restaurant, travelled across the country and overseas, and raised eight children. Just before my grandfather passed away, my grandmother got a crash course in their finances, having never paid attention to any of it before. Can you imagine having to learn all about your insurance policies, financial institutions, and mortgage and refinance history, all while knowing that you are about to lose your best friend and companion of so many years? Even now, over 10 years later, my grandmother has a member of the family handle all of her finances.

I have heard many a story about a financial decision – big or small – being made by the man of the house, without including his wife – whether it be intentional or not – and it never ends well. Either bitterness, anger and resentment build, or a great divide is created – no real cohesion and harmony is achieved.

Although I pay most of our bills online, and write the occasional physical check and drop it in the mail, Ray and I have always made financial decisions – big and small – together. I think it’s important for stay-at-home (and work-at-home) moms to stay in the know when it comes to the income and expenses of her home, even if she is not the one who brings home the paycheck.

In fact, just today Ray and I met with a financial advisor and it sparked something in me. I am interested now, more than ever before, about where our money goes and how we can prepare for tomorrow. Heaven forbid anything should happen to either of us while we have young children, just knowing that we are making decisions now that can impact our future – and the future of our children and grandchildren – is incentive enough for me to stay in the know.

Comments

  1. says

    I hold the reigns on 75% of our finances. I hate hearing stories of women divorced or widowed and they didn’t know what they had or how to handle the money. It’s so frustrating. Not only are finances important, but what about life insurance. My husband & I discuss every single money decision, down to “I’m going to buy the kids new clothes.”
    Candice @ Fashionably Organized´s last blog post ..Jeans With Red Shoes and Bags – Fashion Friday

  2. says

    My husband and I recently bought a house and we recently decided to combine our bank accounts. This was a big giant step for me and it’s been a bit daunting to lay out all our finances together but we’re moving forward quite nicely.

  3. says

    Great post! In the past, my husband and I would take turns handling the finances; but that always caused tension. Now, we sit down (at least) weekly too look at where we are in the short-term and long-term. It makes our relationship much stronger and helps me feel more confident, too. I think there are even mom’s groups/clubs specifically for investments and strategies. So cool!

  4. Rosalia says

    This narration suggests us that for any financial planning, we should also involve our family members to avoid unexpected loss. This will help us to pre-plan our financial maintenance during peak time. Good inspirational story, I shall share it!
    Rosalia´s last blog post ..Los alimentos mas grasos del mundo

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