Finance is a critical aspect of any man, family or organization as it concerns the management and use of money. It is very important to be financially literate so as to understand how to plan life based on available resources without being submerged in terrible debt. The benefits of financial literacy for married couples include.
- Harmony and Understanding
Money is a big issue in marriage and relationships. Couples may differ, disagree and even fight bitter when there is a big or huge gap in the level of financial literacy and knowledge. Couples with good knowledge of what finance is will hardly disagree over budgeting, financial goals, insurance and investment therefore foster harmony and peace in the home.
- Prevent Financial Crisis
Financial crisis, debt and insolvency is a function of bad financial decisions that has been made over time. Husband or wife with no financial knowledge or literacy will mostly make bad decision about credit, loans and spending habits which will hunt the family and put them into very deep financial concerns. Couples with financial literacy will prevent any of these issues based on their knowledge about finance.