The Family and Human Life Unit at the Catholic Church of Divine Mercy is currently running a marriage class for intending couples, particularly couples that have cohabited; sometimes for long periods but had not formally tied the knots. It was my turn this Saturday, May 24, 2025, in the afternoon to speak on the theme of family finance. I reminded the participants of the very common and popular maxim, which says that money is the root of all evils. I quickly added that non transparent management of family finance could quickly lead to discord and sow the seeds for distrust and acrimony in the family. There is peace if families are on the same page with regard to family finance.
It makes it seamless to bear any burdens and make any sacrifices arising therefrom. It is necessary to accept that the period the husband alone chartered for the family is a thing of the past. It must now be a joint effort. I emphasised that the essentials for harmony in the family are open communications, trust, generosity, loyalty, and friendship. If couples are friends that underwriters peace in the family. People talk of love and affection between couples. But such only count within the realms of sentiments, feelings and emotions. If couples are good friends to boot, they have each other’s back covered. There are not many secrets, and there is empathy.
It is good therefore for couples to target friendship in their relationship and love each other unconditionally. I reminded the class that the acceptable overall Christian attitude to money is that money is necessary within the family. But couples must be wary not to inadvertently overly focus on money as an end in itself. When that happens, couples risk committing idolatry as money begins to take the place of God in the family where all options are on the table to get money. Things are so difficult these days that both couples must aim for financial freedom. With the high inflationary environment, there is a need for multiple income streams.
The era of sit at home wife is now virtually behind us. But in the event of a sit at home spouse, there will be the need for the payment of an agreed stipend. It is advisable to decide upfront the areas of expenditure by the family, particularly where aged parents are in the picture. Other expenditure heads to cater for might include rent payments, school fees, housekeep, etc. There will be a need for a joint family account where income inflows are domiciled as agreed. Where that is so a joint signatory approach is recommended. It reduces pressure if individual couples maintain their separate accounts. There must be a deliberate plan to save and invest for the inevitable rainy day. The discipline here is to only undertake planned expenses and avoid impulsive buying.
In this regard, it is advisable to go each time for routine purchases from the market with a deliberately considered list of items. Money saved by the family should be kept in a fixed deposits account to earn handsome interests. There are also the options of the purchase of Commercial Papers and government Bonds There are, of course, many other investment outlets, including real estate, etc. Depending on the ability to mobilise sizeable amounts of money. The point of emphasis is that savings and investment mindset must be fostered within the family. It is also advisable to include in the family budget the support for God’s work. The church does not have a different source of income but contributions by church members. Couples must note that they are expected to make contributions by also denoting their time and talent.
Some are comfortable to give tithe offerings; 10% of their income. We should support as the spirit moves mindful of the fact that to be impactful, our contributions must touch the substance of our income, not only the surplus. It helps if there is a budget for charitable works remembering the saying by the Lord that whatsoever you do to the least of my brethren that you do unto me. The session was brought to an end by the usual interactive Questions and Answers sessions. I thoroughly enjoyed myself as for me it remains always a pleasure to offer service. Shalom.
• Dr. Boniface Chizea is a Financial / Management Consultant, Lekki, Lagos
