Be Financially Smart with FNB

Approximately 50% of Marriages End in Divorce, Often Because of Money

Has money ever come between you and a loved one? According to stats, approximately 50% of marriages end in divorce, and a large number of these divorces are related to financial infidelity. However, financial relationships don’t only matter with married couples. There are many other financial relationships that have an impact on our lives.

In the weekly #BeFinanciallySmart feature on the Azania Mosaka Show, FNB Head of Consumer Education Program Eunice Sibiya shares some insight on financial planning for successful relationships and the importance of having open, honest conversations with your loved ones to build healthier and stronger financial relationships.

A great place to start is knowing yourself and the relationship you have with money, every person has a different personality with money

Eunice Sibiya, FNB Head of Consumer Education Program

Are you a miser who spends as very little as possible? Or a spender who easily spends money without a care in the world? Sibiya says these different personalities are often the reason people clash and relationships with friends, colleagues, business partners and family members go down the drain.

It doesn’t help running away from the conversation about money, we tip toe around situations, stop procrastinating and come clean.

Eunice Sibiya, FNB Head of Consumer Education Program

Sibiya says it’s extremely important take action immediately if a personal relationship is strained.

Here are six pointers on how to tackle money issues and build better financial relationships with your loved ones.

  1. Determine your financial requirements and highlight your financial expectations and limits.

  2. Create a plan to cover responsibilities and assign roles.

  3. Set clear rules for every transaction, especially around loaning each other money

  4. Compromise – All relationships require a little give and take

  5. Do not keep financial secrets, this is why most relationships fail

  6. And most importantly, keep communication channels open. Express your concerns and make suggestions.

Listen to full interview below:


Recommended

by THE NEWSROOM

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Six ways to manage temptation and reduce your debt

Six ways to manage temptation and reduce your debt

Have you ever taken a loan that you didn't really need? FNB Expert Eunice Sibiya weighs in on how you can manage your debt more effectively.

Learn the art of effective debt management

Learn the art of effective debt management

Debt is a vicious beast. If you don't tame this beast, it could mean the difference between financial destitution and financial freedom.

3 types of loans that can help you grow wealth

3 types of loans that can help you grow wealth

Loans are supposed to help you, not get you into trouble. FNB expert Eunice Sibiya sheds some light on loans that can be used for good.

Here's what you need to know before you take out a loan

Here's what you need to know before you take out a loan

Head of FNB’s Consumer Education Program Eunice Sibiya says that in SA, we have a combined consumer debt of R1.7 trillion.

Smart techniques to use when borrowing money

Smart techniques to use when borrowing money

FNB's Eunice Sibiya says SA Human rights Commission reports more than 50% of credit-active consumers have impaired credit records.

Smart transacting techniques for 2018 and beyond

Smart transacting techniques for 2018 and beyond

'Plan for December, plan for January and plan for your life. We can’t keep making the same mistakes every year.' - Eunice Sibiya

Popular articles
This is how much you should be paying your domestic worker

This is how much you should be paying your domestic worker

Stephen Rathai, director of employment standards at the Department of Labour talks on the new national minimum wage.

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

Zweli Mkhize 'taken by surprise' with latest cabinet reshuffle

Zweli Mkhize 'taken by surprise' with latest cabinet reshuffle

The ANC treasurer-general confirmed Mantashe’s comments that the President did not consult the ANC leadership on the reshuffle.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Meet Errol Musk - father of Elon, the most innovative entrepreneur of our age

Meet Errol Musk - father of Elon, the most innovative entrepreneur of our age

Elon Musk, as you’d expect, hails from an exceptional family. Bruce Whitfield interviews his Capetonian father.