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 NEWSROOM AI
Read More
Smart money management techniques to reach your financial goals

Smart money management techniques to reach your financial goals

FNB Expert Ester Osche wraps up the #BeFinanciallySmart feature by highlighting some important techniques you need to adopt to be well on your way to financial freedom.

Saving should be the most important part of your budget says FNB's Ester Osche

Saving should be the most important part of your budget says FNB's Ester Osche

For the past few weeks, the Be Financially Smart experts have been delivering excellent insights on saving and investing your money. It is an essential part of building your wealth

Investing for retirement and the best time to start

Investing for retirement and the best time to start

How much time do you have left before your monthly income stops? The earlier you start saving for your retirement, the better!

How to juggle the stock market smartly for long-term investing

How to juggle the stock market smartly for long-term investing

The Azania Mosaka Show kicks off Savings Month with a discussion about stock markets and long-term investing.

Property investing as a good long-term investment

Property investing as a good long-term investment

FNB Expert Ester Osche discusses how to turn a property into a stable and rewarding long-term investment,

How to spot an investment scam from a mile away

How to spot an investment scam from a mile away

We've all heard stories of people falling victim to poor investment decisions. Here's what you need to look out for.

Popular articles
Jawitz Properties sues property owner R320 000 for breach of contract

Jawitz Properties sues property owner R320 000 for breach of contract

Property owner Lynne Zurnamer says she waited for almost 12 months for Jawitz to sell her property and decided to cut ties.

[WATCH] Mom gets  a touching Christmas gift, a surprise visit from her daughter

[WATCH] Mom gets a touching Christmas gift, a surprise visit from her daughter

Khabazela shares tweets and Facebook posts that have gone viral.

Controversy over who should lead UWC

Controversy over who should lead UWC

Law professor, Dr Danny Titus, explains why the extension of Professor Tyrone Pretorius's contract has enraged certain people.

'He arrived without integrity and dismantled Sars'

'He arrived without integrity and dismantled Sars'

EWN reporter Barry Bateman looks at different political news that made headlines in 2018 such as Tom Moyane and Sars.

'Cyril is the most popular president since Nelson Mandela'

'Cyril is the most popular president since Nelson Mandela'

Author Max de Preez weighs in on where SA would be if Jacob Zuma was still president and the impact of Ramaphosa now.