Why Spouses Need Separate Rainy Day Funds

This article discusses why spouses need separate rainy day funds. What would happen to you if your spouse left you tomorrow and you were left with only one income? Could you pay the bills and still survive, find another place to live, hire an attorney? Use this article to help you out.

Why Spouses Need Separate Rainy Day Funds
By [http://ezinearticles.com/?expert=Mishaun_Taylor]Mishaun Taylor

There is nothing wrong with trusting in your spouse to always be there. There is also nothing wrong with preparing for your future if your spouse should happen to move on to someone else! While this may sound terrible, it happens all the time. A husband of 20 years may decide that suddenly, he is no longer in love with his wife and wants a divorce. A wife of a couple years might realize she's more devoted to her career than her husband and wants to leave. This article discusses why spouses need separate rainy day funds!

Planning for the Future -

We often take care to pay our life insurance deductibles so that we're prepared incase we die. We make sure our retirement plans get plenty of attention so that in our golden years, we can enjoy our lives. It's wise and very smart to prepare for your future - but have you thought about what would happen if your spouse should decide that he or she wants a divorce? What if you decide you're no longer happy in the marriage? If you were getting a divorce today, would you have the money to stay somewhere else, hire an attorney and get back on your feet? This is the purpose of a rainy day fund - so that if the weather really does get bad, you will be prepared.

How Much to Save?

While you don't want to bleed your family dry, it is important to give attention to your savings account. This way, you will have the money when it's needed. Think of a percentage that you can take from your paycheck each week that will help you fill your account, but that you won't notice missing. For instance, you might take 10% out or eliminate some of your extra spending and put it into your savings account instead. This will help you build up your savings without much trouble.

Talking It Over With Your Spouse -

The best thing you can do is talk it over with your spouse and encourage him or her to have their savings account as well. This way, it's completely fair and you're both protected. Let them know that although you don't expect anything bad to happen, it's important that both of you are protected incase of an emergency or incase something happens between you. If your spouse is reasonable, he or she will understand the importance of both of you being protected and having the extra money in the case of an emergency.

Although you never expect anything bad to happen to your marriage, you should be fully prepared so that you can take care of yourself incase something does happen. If nothing else, the money in your separate savings accounts can go to something you want for yourself. Of course, this would be after you've saved up enough money to take some out and still be alright! Use these tips and suggestions to help you prepare for emergencies and the little things that happen in life which we're not usually prepared for.

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