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Good day, people of Hive! Welcome to my blog. We are In another week of the Hive Naija Weekly Prompt, let's dive into today's topic.
Financial stability is one of the goals of many couples. Financial stability is indeed what couples nowadays are doing because they think that if they have a joint account, it will be easy for them if they want to do something or other.
Has financial stability helped couples or torn them apart?
Yes, it has helped and torn a lot of couples apart, and I would like to mention the advantages and disadvantages of financial stability and why it has helped and torn couples apart.
Advantages
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Trust: A joint account can help couples build trust between each other.
**Easy budgeting: The reason why couples adopt joint accounts is that if they need something to cover household expenses, it will be easier for them.
Bills: A joint account helps couples to be able to pay for their house rent, Nepa bills, and any other expenses.
Financial payments: In a joint account, it helps couples to be able to pay for their children's education, not that they have to wait for their monthly salaries before paying for their children's education fees.
Emergency: A joint account helps couples in case of emergency; maybe they need something urgently and they don't have the amount they need to borrow money from outside; they can just borrow the money from their joint account and return the money after getting back the money.
Disadvantages
Spending habits: In a joint account, if one partner is a spender and the other partner is a saver, because of that conflict may arise between the couples
Argument over money: In a joint account, one couple can say they should use the money for this, while the other will say no, they should use it for that, and because of that, the disagreement about how to use money can lead the couples to fight.
Misuse of money among couples: In a joint account, if one partner is misusing money the other will want to join the other partner by misusing the joint account money.
Legal complications: When divorce or separation finally happens between the couples, dividing the joint account may become a legal problem.
What's your take on couples having a joint account?
To me, my take on about couples having a joint account is;
Setting rules: In a joint account, couples must set rules and agree on how they spend the money and how they should handle unexpected expenses, not that whatever they see, they buy or spend the money unnecessarily.
Personal and a joint account: Couples should maintain their account for their personal use or expenses, while they should maintain their joint account for their joint use or expenses, such as children's education fees, etc., and we must not join the two together.
In conclusion, whether couples have a joint account is safe or dangerous depends on their relationship or communication between them. For some people, having a joint account is safe for them, while for others, having a joint account is dangerous.
This is my entry for "Hive Naija Weekly Prompts Edition 51".
Thanks for reading ❤❤❤❤❤.
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