I handle the vast majority of the financial tasks in our family. This however, doesn’t mean that my wife doesn’t play an integral role in our financial life. While I would likely have been financially stable with or without a spouse, I may not have been able to explore certain dreams, take certain chances or have the variety of lifestyle and living options open to me that I do were it not for being able to share aspects of my financial life with my wife.
Here are a few of the more major financial aspects in which my wife adds a more stabilizing influence or has helped me to explore.
Maybe the most significant role that my wife has played in our ability to become more financially stable was in providing someone to share expenses with. Some people love the freedom of being single, and that can be a great thing, but the downside of this lifestyle decision is that it can leave the person bearing the full brunt of all their lifestyle costs. Similarly though, a married person can end up with a financially uneducated spouse who overspends or makes poor financial decision.
I’m lucky in the fact that my wife is financially responsible. In the course of our relationship, we have been able to share costs for things like food, utilities, rent/mortgage, transportation, entertainment, travel, and the likes, effectively cutting our costs in half or doubling our earning and saving power depending upon your outlook.
Since my wife can carry the family employer-sponsored health care, and since I’ve been relatively successful in my self-employment endeavors at home, it allows me to handle the family childcare. My ability to stay home with the kids cuts around $10,000 to $14,000 a year in additional childcare costs. Without my wife providing that stable health insurance though, this would be impossible since I would have to get an employer-based role with insurance benefits.
I dreamed of being self-employed — as I’m sure many people do — for years before I ever took the plunge. And honestly, I don’t think I would ever have tried it were it not for my wife and her ability to maintain a steady job while I tried my hand at freelancing. While I was more than financially ready for the adjustment in careers, and I never had to rely upon my wife for extra financial assistance, having her there as a financial backup and to provide things like employer-sponsored health insurance certainly made for great peace of mind.
Not everyone is a fan of relocating, but our family enjoys exploring new locations and seeing new places. Having one another to pick up the slack in such situations proves quite valuable.
In a recent move, I pulled the financial weight and picked up the state-sponsored health insurance while my wife looked for a job. In our most recent move though, we reversed the roles. Having my wife there not only makes such moves easier, as there is someone to split all the work with when it comes to changing addresses, setting up utilities, and all the rest that comes with settling in to a new place, but she’s there to help share the cost of moving, help with packing and unpacking, and act as a friend to learn and explore with in our new locations.
More From This Contributor:
Preparing to Publish My First E-book
Why My Blog Doesn’t Make Any Money
How I Differentiate My Blog