It is not uncommon for couple to break up because of debt. After all, money does buy happiness. In this instance, a man wanted to start business and put in $50,000 capital, despite his wife’s objection. The business went bust, and he incurred more debts by borrowing from friends. He started making forex trade and other trades, and incurred total of $250,000 debt. He was eventually made bankrupt.
On the surface, the family finances looked fine because they owned HDB and Condominium. He moved out to live in HDB on his own, and racked up outstanding debts of $1,000 in unpaid HDB conservancy charges, $3,300 in property taxes and unpaid utilities, and $600 in town council charges. His wife eventually filed for divorce which is granted by High Court as the man’s unreasonable behavior has taken emotional toll on her wife and affected her health.
CONCLUSION
Money management is important factor in marriage. Financial stability is crucial to keep a family running smoothly. Just like running business, cashflow is important in family finances as well.
