There was this study from the University of Utah where they interviewed thousands of couples. They were asked how often they disagreed over chores, in-laws, spending time together, sex, and money. Fast forward five years later, and this time they were asked if they were still married. Here’s what they found: couples who fought...
When it comes to money, attitude has more impact than skills on how you handle it. And how do we develop our perspectives and psychology about money? Yes, all throughout life, but a big part of it can be traced back to our childhood. Think about how you grew up. What did your parents...
When you think of investments, you automatically think of stocks, bonds, funds, or real estate. Certainly, you need to invest your hard-earned money in these asset classes. But there are other investments you need to do that affect other areas of your life, which in the end will have not only a financial impact...
The worsening traffic in Metro Manila has gotten me lately to seriously think about where I want to retire. In fact, it has become so bad that I started to think about pre-retirement: where I want to live even before I retire. Certainly, certain cities in the Philippines are good candidates: Cebu, Davao, Bacolod,...
If you think about it, your household is just like a small business. You have bills to pay, people to manage, and income to generate. If you are not making enough money, get into too much debt, or find yourself into a financial mess, then you may want to start running your household just...
How do you manage your family finances? Why not run it like a business? Here’s how: Establish your purpose Did you know that some wealthy families have family constitutions? Well, you don’t have to go that far. But it could do your family well if you set your purpose. Businesses exist for a purpose,...
Social entrepreneurs are hot these days. It’s not that they’re riding on a fad but society responds positively to entrepreneurs who meld profit, passion, and purpose. This resonates to many of us who are not content with just making money but want to find meaning to what we do as well. We can take...
I have two young daughters. As personal finance advocates, my wife and I consciously find teachable moments to our kids for them to learn about money. We don’t always do it right but when we do, we know we are making an investment on their financial future. Here are 10 ways we teach them...
How do you split money duties in the first place? Well, there are three major roles to play as we’ve been practicing in our family: Role #1: Earning money Earning money for your family is a huge responsibility and puts a lot of pressure on you. We’ve seen single-income families who have managed to...
While generally men handle the earning and investing part while women manage the spending part, that’s not always the case. In fact, read this article that debunks the idea that men should do the investing while women should do the budgeting. However, we believe it’s not strictly a gender issue. Who does which depends on...
