Run Your Marriage Like A Business

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Well at least financially, that’s what an article I just read advises and most of that advice doesn’t look half bad. Here are a few excerpts from the MSN write-up on marital finances.

Marriage makes people richer.

Not all marriages, of course, and “richer” is relative. But overall, people who get married and stay married build significantly more wealth than single folks:

  • The median net worth of married-couple households in the latest Census Bureau wealth study, conducted in 2002, was $101,975. For single men, median wealth was $23,700. For single women, $20,217.
  • A 15-year study of 9,000 people found that during that time, people who married and stayed married built up nearly twice the net worth of people who stayed single. Even when all other factors are held constant — stuff like income and education — just the fact that they were married contributed to a 4% annual rise in these couples’ wealth.

Here are the business skills they outline as most important.

  1. Do your due diligence
  2. Determine your goals for your partnership.
  3. Create a plan to attain those goals
  4. Appoint a chief financial officer
  5. Stay up-to-date with your reporting requirements
  6. Work out your conflicts

To read the entire article and check out the description for each point above you can check out the article here.


About the author

Lamar and Ronnie Tyler are the creators of the award-winning blog BlackandMarriedWithKids.com . They also are behind the Amazon.com bestselling DVDs Happily Ever After: A Positive Image of Black Marriage, You Saved Me and Men Ain’t Boys that explores manhood in the African American community. The Tylers are also the proud parents of four children.



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Comments (5)

  1. Felicia - FPE Services Monday - 15 / 03 / 2010 Reply
    Wow! Very interesting. When my husband and I got married our response was "This is our first business merger. Are you ready?" We said yes and never looked back. And like in business it can take a while before you see a profit, but we are certainly enjoying journey.
  2. Carlton Monday - 15 / 03 / 2010 Reply
    Point #1 is one that should be shared with every young couple looking to walk that aisle. Do your due diligence. Make sure that there is some financial compatibility between you and your intended. My wife and I got a lot of jokes about how "business-like" things were for us... We still do! We teach our kids this equation, Better Decisions = Better Results. .-= Carlton´s last blog ..God's Man | Job 29 | The Blessed Home =-.
  3. John Curtis Tuesday - 16 / 03 / 2010 Reply
    Could not help but comment since I have written a book on how to do just that.... Can you build a successful marriage the same way you would build a successful business? Would you find happiness, even life-long love? Absolutely! Think about it... the top objective of any business is long-term success! "Marriage Built to Last" is the first book that shows how to use proven business strategies to create a marriage with long-term success... a marriage built-to-last! "Marriage Built to Last" can even result in a turn around of a once-rocky relationship. Dr. Curtis explains why so many young people are cohabitating and postponing marriage later than ever and why many believe that single people are happier than those who are married. The book & workbook provide a step-by-step approach on how to take strategies used to build a successful business to build a successful marriage, such as writing a marital vision statement or a detailed job description for the husband and wife, or how to create a "love logo" or set up a performance appraisal process & compensation system for a marriage. Yes, even in marriage you deserve an "emotional" paycheck
  4. Anna Saturday - 20 / 03 / 2010 Reply
    Run Your Marriage Like A Business ~~~~~~~ I have always thought this, " Marriage is a business". If some people can't look outside the box and think of running their own business, look at it this way. Consider what you do at work and how hard you work. Take as much pride as you do "climbing that ladder at work" and use it in your marriage. If you use post its at work, post little love notes for your spouse. If you answer phones at work, call your spouse on their cell phone while both of you are at home. If you smile when someone walks in the door at work, smile when your spouse walks in the door at home. If you take payments at work make sure your spouse has their wallet open to make a payments at home. LOL. On a serious note, I do wish people would look at marriage more as a business. Make sure that you and your spouse are on the same page. It does make for a better Business Deal/Marriage. Two incomes are always better than one and if we don't know what/how to invest seek an adviser. Remember, if you can have fun and laugh at work, you can do the same at home. Stats do show that married people have better credit scores, get sick less and live longer. No offense to the single people. Being single has it's advantages, I just don't remember what they are. LOL. 2 Carlton March 15, 2010 at 3:53 pm Point #1 is one that should be shared with every young couple looking to walk that aisle. Do your due diligence. Make sure that there is some financial compatibility between you and your intended. My wife and I got a lot of jokes about how “business-like” things were for us… We still do! ~~~~~~ When I read your comment about you and your wife having a lot of jokes about how business like things were for the both of you, I did smile and laugh and that's why my comment is what it is about the post its and use of a phone. Make use of our resourses people. It's ok to take what you do at work home with you, just don't take the post its.
  5. Julie Magro Monday - 22 / 03 / 2010 Reply
    As someone who is married to my business partner, I think this is great advice. Because my husband and I operate as a team inside and outside of the office, we constantly have these discussions. Our business and our home wouldn't operate as efficiently if we didn't have these discussions to come to a common goal. I also find it interesting that the angle of people being in business with their spouse is often looked down upon by most people, starting with the phrase "I'd kill my husband if I worked with him," when the many generations before us were always in business with each other....it was called farming. The husband had his work on the farm, the wife had her work on the farm. They worked together side-by-side to survive and thrive. Thanks for covering this important issue. .-= Julie Magro´s last blog ..Maternity Leave and the Woman Entrepreneur =-.

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