Does Marriage Affect Your Money?

Do you think that marriage helps you make more money? Or do you think it hinders your growth? Being a child of a divorced family, money was always a big problem. On one side of the equation, one parent viewed me as an asset and the other parent view me as a liability. So, being that the divorce rate is around 50% is it worth losing 50% of your net worth to the same odds of a coin flip?

For most of my life, I would have said, “No,” but now that I’m recently engaged my answer has changed to a big fat, “YES.” It all comes down to mindset, if you’re not changing over time, then you’re not adapting to the world as it’s adapts to the new environment that we now call 2021.

You work hard for your money, each day is a constant grind, and the last thing you want to happen is to have your assets decrease by 50% in value overnight.

Here are a few reasons why I believe that marriage actually helps you make MORE money than being single.

1.    Teamwork.

There’s an old saying that says, “If you want to go fast, go alone, if you want to go far go together.” The same goes for a marriage. You’re working as one cohesive unit. No matter how you cut it up 2 is always greater than 1. So, it will help you get more accomplished, by having someone that cares about you on your team.

Being single allows you to be more selfish and do everything you want to do when you want to do it. The catch 22 that single people are faced with is the amount of time they spend, looking for a partner. That same energy can be directed into building a long-lasting, fruitful relationship. And a relationship that lasts in perpetuity will pay you dividends over a lifetime.  

2.    Commitment.

It takes strength in order to commit yourself to 1 person. We’ve all heard the mantra that, “there is plenty of fish in the sea.” But, if you don’t know what kind of fish you’re looking for, it will be overwhelming trying to pick out what sort of marine animal is your favorite.

 Finding a significant other is no different. You got to know what your favorite fish is in order to know exactly what you’re looking for. Otherwise, you will fall into the trap of working harder, not smarter. Once you figure out what you want, you got to commit.

 Commitment, to someone, that will eventually lead to marriage, is one of the many catalysts that will project you into prosperity. Being it’s 2021, we need to be aware that behind every great person, there’s a better spouse that helped them get where they want to be.

3.    Sharing.

Once you take a leap of faith to enter into a long-lasting relationship, you can’t focus on yourself. You need to be able to share your time, possessions, and efforts in order to lead into a marriage. This can be tough.

All people are different. Different religions. Different interests. Different political views. But, if you’re truly looking for that one special person, you’re going to not just take, but share with them. Sharing comes in many different forms. This can be anything from sharing meals, to share experiences.

It takes work in order to share with someone. This is one of the main reasons people aren’t as successful in their lives because the secret to building wealth, is to have a badass team supporting you on your journey.

4.    Sacrifice.

With marriage, comes sacrifice. You’re going to have to say, “No” to many activities and events that you’re accustomed to saying “Yes” to. When declining events, you’re going to find out who your true friends are. Someone who asks you to go out with them once, maybe twice, and you never heard from them again, isn’t a true friend.

If you find a friend who is willing to put in the effort in order to make plans, that’s someone you definitely need to hold onto. The best advice I ever received in order to see the people you care about the most is to keep advancing your plans forward. You can achieve this by planning the next time you get together, while you’re still together in the present.

It’s a lot easier to pull out your calendars to coordinate your next get together, rather than going back and forth via text message.

5.    Balance

Life is a constant balancing act that pulls us in a billion directions. We have work responsibilities, home repairs to make, and as humans, we like to have some sort of social life too. Being in a marriage or relationship with someone will help keep you in balance. If you’re a workaholic, then your partner can give you the breaks you need in order to prevent burnout.

Not only will they balance you, but they will also be able to introduce you to their networks that you may never have been able to connect with otherwise. This will open you up to creating new friendships, new experiences, and continuously growing into the person you want to become.

Your Guide,

Joshua Krafchick

Additional Reading to learn about creating long-lasting relationships.

1.    We Got Married & Bought a House.

2.    Own a Pair of Fuzzy Slippers.

3.    Dating in Your 30s.

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