Families Managing Money in Hard Economic Times
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Families Managing Money in Hard Economic Times
Asha Holmes
Prairie View University
Abstract
This paper observes articles that analyze the outcome of families and how they manage their money in a tough economical time; the articles also show the things that are necessary with the rising of pricing and the toll it’ll take on a marriage. (Brown 2009) suggest joint accounts make it harder to keep track of money with the high prices, radical spending and the ease of two incomes available at all times. While on the other hand (Henry 2012) proposed that having a joint account is the best way to go having more than one account and is worst to keep track. Leading us into another important factor budgeting with children (Lock 2011) Stating that if a middle class family spent what a lower class family spent on their children they would save a lot more money annually. (Blanchard 2009) Leads the argument in stating how you can cut down on household cost by changing the high costing habits that are hard to overcome.
Managing money is hard enough; throwing marriage into the equation can be even more difficult, not only do you have to take in consideration your spouse financial needs and wants you will have to change how you once did things. Such as your weekly shopping spree, lunch out with the girls, or going to the bar with the fellas, every day you see marriages fall because of the lack of communication dealing with money prices rising and falling on the day to day basics. Once a person decides to take the vow to another person everything has change, what is yours is mine and what’s mine is yours. Not everybody can conform in such a manner; it’s something that you would have to acquire over a period of time. If it is not you would not be able to support your family and be financially stable in a tough economic time. (Brown 2009) says “the problem with regular joint accounts is that it is so easy for people to lose track of their money” says
Families Managing Money in Hard Economic Times
Asha Holmes
Prairie View University
Abstract
This paper observes articles that analyze the outcome of families and how they manage their money in a tough economical time; the articles also show the things that are necessary with the rising of pricing and the toll it’ll take on a marriage. (Brown 2009) suggest joint accounts make it harder to keep track of money with the high prices, radical spending and the ease of two incomes available at all times. While on the other hand (Henry 2012) proposed that having a joint account is the best way to go having more than one account and is worst to keep track. Leading us into another important factor budgeting with children (Lock 2011) Stating that if a middle class family spent what a lower class family spent on their children they would save a lot more money annually. (Blanchard 2009) Leads the argument in stating how you can cut down on household cost by changing the high costing habits that are hard to overcome.
Managing money is hard enough; throwing marriage into the equation can be even more difficult, not only do you have to take in consideration your spouse financial needs and wants you will have to change how you once did things. Such as your weekly shopping spree, lunch out with the girls, or going to the bar with the fellas, every day you see marriages fall because of the lack of communication dealing with money prices rising and falling on the day to day basics. Once a person decides to take the vow to another person everything has change, what is yours is mine and what’s mine is yours. Not everybody can conform in such a manner; it’s something that you would have to acquire over a period of time. If it is not you would not be able to support your family and be financially stable in a tough economic time. (Brown 2009) says “the problem with regular joint accounts is that it is so easy for people to lose track of their money” says