When we get married, it’s best to own our own roof over our heads. Renting is not the best option. Yeah, my father-in-law was the one who reminded me to buy a property BEFORE I got married to his daughter. That was 17 years ago. Anyway, the main reason we should buy a property is because it shows a minimum standard where financial stability and understanding is concerned. At least, a certain amount of our monthly salary is already put into an asset for which appreciation should just follow the inflation rate and thus the wealth we have continue to increase or at least not lose its value; hedge against inflation. If we did not take care of the financial aspects, the chances that the marriage will have more issues will be higher.
Article in edgeprop.my here. According to Deputy Women, Family and Community Development Minister Hannah Yeoh, financial problem is the main cause for divorce among Malaysian non-Muslims. She said 2,971 out of 6,901 cases of divorce among non-Muslim couples last year were due to financial issues. “Financial problem is a huge thing, based on National Registration Department marriage tribunal statistics, the majority of divorce cases was due to financial problems,” she said. Yeoh said it was even more worrying that the number of divorces also contributed to the rise in child abuse cases involving mothers. “Financial problems, divorce cases and child abuse are inter-related, when divorce is due to finance, the mother would lose a source of income and is pressured which could lead to child abuse,” she said. Article in edgeprop.my here.
It’s clear from the statistics that if we do not manage our finances well, it may just become the main reason for divorce. In fact, it will also lead to many other worrying domestic issues as well. It does not matter how much we earn if we did not know how much we could and should save. This is the major reason why down payment for a home is not possible even for professional couples who have worked for many years. This is also the reason why banks reject many loan applications even when it’s just the first property for a household where both are working Malaysians. This is also the reason why the savings rate for Malaysians continue to fall. (Here’s one report for reference) Hopefully good changes are coming…
Article written and edited by Charles. News article summarised by Dina Batrisyia.
<Featured Image is courtesy of Stock Photos from fizkes >
Next suggested article: Malaysia in the same watchlist as China by the U.S.