Financial Troubles after Marriage


In today’s material world, managing finances in a marriage can be tough but if we act wise, we can make sure that we don’t face any financial problems in our lives. I have mentioned below few very common financial issues which I have come across.

1. Husband is only earning members and in spite of earning well, doesn’t take care of wife and minor children.

If husband is the sole earning member, then he is bound by law to take care of the expenses of the wife and minor children. If he is not taking care of these expenses, then the wife can file a case for maintenance. Now such a case should not be confused with divorce or anything else. It’s purely a case of asking maintenance for survival of wife and minor children, who are entitled for maintenance as per the earnings of the husband. A family lawyer can be consulted to file such a case.

2. Husband in spite of trying his best is unable to bear the household expenses.

In such a case, the wife can support her husband and see if she can contribute in the earnings. Getting into legal cases won’t help.

3. Husband does not earn as per his capability.

In many cases, husbands in spite of having a dependent wife and/or children, do not act responsibly. They have the capability to earn alright in order to support the family but do not have the intention for the same. They either indulge in bad habits like gambling, betting, etc. or are simply lazy. If such a person doesn’t have any income or assets, then it can be very hard for a wife to get the maintenance. Although a well bodied man is required to work to earn money as per law but practically getting the maintenance amount through legal ways can be very difficult in such cases so it’s better for the wife to start earning herself. I’m not saying not to file a maintenance case in this scenario. The maintenance case must be filed but along with it, all other options for securing the expenses must be explored.

4. Husband and wife are earning but they cannot get into an agreement on how to contribute their incomes in household expenses.

The law does not discriminate weather the earning member of the house is male or female. Whosoever is earning, is bound to take care of the household expenses as per his or her earnings. A marriage counselor or a financial planner can be consulted to plan the finances of the house.

5. Husband and wife are earning but are trapped into debts with credit cards, Home Loan EMIs, Personal Loan EMIs, etc.

Over the last few years, a new situation has become very common where the earning couples spend way more than they earn and are running into multiple debts. Home loan EMIs, Car loan EMIs, personal loan EMIs, etc. put strain on married life and then life just becomes a debt paying scheme. My only advice is: SPEND LESS THAN YOUR EARNINGS, NOT MORE THAN THAT. Living in the present is desirable, but you need to save at-least 20% of your earnings and stop living on credits. Ditch the credit cards unless you can control your spending habits. Avoid taking any hefty loans as your hard earned money is going to the bank. Earn more first and then spend money as per your dreams, rather than spending first on your dreams through credit cards or loans and then trying to earn more to pay them back.