{"id":213991,"date":"2019-08-06T10:00:03","date_gmt":"2019-08-06T08:00:03","guid":{"rendered":"https:\/\/germistoncitynews.co.za\/?p=213991"},"modified":"2019-08-06T09:03:12","modified_gmt":"2019-08-06T07:03:12","slug":"balancing-relationship-money","status":"publish","type":"post","link":"https:\/\/develop.citizen.co.za\/germiston-city-news\/lifestyle-news\/2019\/08\/06\/balancing-relationship-money\/","title":{"rendered":"Balancing your relationship with money"},"content":{"rendered":"<p>Money is viewed as a tool that enables our dreams of a better life, helps validate our success and amplifies how successful we really are.<\/p>\n<p>Our relationship with money is emotional and derived by our needs, wants and ultimately the fear of missing out (FOMO).<\/p><div class=\"stream-item stream-item-in-post stream-item-inline-post aligncenter\"><\/div>\n<p>\u201cLack of effective money management skills can put a strain on your pockets and even hamper family relationships. Ultimately, we should live within our means and ensure that our money is managed in accordance with current financial situation,\u201d said Ester Ochse, from FNB.<\/p>\n<p>The fundamental principle around effective money management is to understand your finances and acknowledge what your responsibilities are.<\/p><div class=\"stream-item stream-item-in-post stream-item-inline-post aligncenter\"><\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #ff0000\"><strong>ALSO READ:<\/strong><\/span> <a href=\"https:\/\/germistoncitynews.co.za\/213343\/maintain-savings-goals-despite-interest-rate-cut\/\" target=\"_blank\">Maintain your savings goals despite interest rate cut<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>\u201cWe need to trust ourselves enough to save more and spend less. This doesn\u2019t mean that we should suppress our desires, but rather focus on things that are important like a retirement, education or buying a house.\u201d<\/p>\n<p>Relationships are based on trust and transparency. By having a view of your household expenses and spending, we can ascertain how we use money or a monthly basis.<\/p>\n<p>\u201cFamily discussions around money are important and will help you determine how your finances have been managed and maintained in any household. Have a truthful conversation with your family as this will help determine were unnecessary spending takes place,\u201d added Ochse<\/p>\n<p>She advised households to consider the following money management questions when discussing finances.<\/p>\n<ul>\n<li>How much money do we earn each month?<\/li>\n<li>First save or pay our debts?<\/li>\n<li>What do we spend our money on?<\/li>\n<li>Do we have an appetite to save or invest once our monthly expenses are covered?<\/li>\n<li>Have we considered family emergencies?<\/li>\n<li>Is our budget up to date?<\/li>\n<li>Do we consider our needs, wants and responsibilities?<\/li>\n<li>Are we covered for future retirement and rainy days?<\/li>\n<\/ul>\n<p>These questions can help in defining your financial goals.<\/p>\n<p>\u201cSticking to your money goals is important as this will help you steer clear of financial burdens. This should be practiced from a young age.\u201d<\/p>\n<div class=\"stream-item stream-item-below-post-content\">\n<div class='tenancy_slot tenancy_slot_1 jannah_ad' style='display: none;' data-query-id='8e71891369fcfb6e8b415eb564fae677'><\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The common notion that money makes the world go around, stands true for many.<\/p>\n","protected":false},"author":57,"featured_media":213992,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"hasGravity":false,"cxt_article_byline":"Caxton local media","cxt_disable_google_ads":false,"footnotes":""},"categories":[3686],"tags":[11289,5992,6111,28048],"class_list":["post-213991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle-news","tag-finance","tag-finances","tag-money","tag-money-saving"],"amp_enabled":true,"category_labels":{"Category":"Lifestyle","SubCategory":"Entertainment"},"tag_labels":["finance","finances","money","money saving"],"_links":{"self":[{"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/posts\/213991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/comments?post=213991"}],"version-history":[{"count":0,"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/posts\/213991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/media\/213992"}],"wp:attachment":[{"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/media?parent=213991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/categories?post=213991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/develop.citizen.co.za\/germiston-city-news\/wp-json\/wp\/v2\/tags?post=213991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}