Thread: Mother In law controls money matters
Mother In law controls money matters
My DH has many joint accounts with my MIL......She takes care of his investments.....I have no idea how much she spends and how much she invests and where she invests.......My husband ' s salary is half of my salary.....We presently live at MIL's home......She is a drama queen......I and DH share my daughters educational expenses half half ....all other expenses are taken care of by DH and MIL.....
I have a financial insecurity that if ever my DH expires I'll have nothing much in hand monetarily.The same has happened to my MIL....After my FIL expired she didn't get the property ....As they say History repeats I want to be financially sound....How can I knock sense into my husbands head ,that he has to take policies ,investments in my name instead of his mother.....
If you have gone through this phase...Please guide me
This is kind a tricky situation, tell your husband to invest money in good financial institutions like bank, mutual funds etc...There are lots of investment schemes available, you can also try with those. Tell him to take insurance on your name, if in case anything happens to your husband, then you will get the money. There is nothing to be worried about your future.
Hope you understood!!!
Communication is the key
Financial matters in home are always a sensitive topic, specially when we combine all our money, not sure if it is a good idea always. All you can do at this point is talk to your husband and try to know more details about the money in the family and investment. Hope he is not a mama's boy and has his own voice and opinion. You guys can always sign a "Will" form which will decide how much percentage will everyone get if someone is to decide. Only problem is Indian families are not quite open of the fact of talking about will while alive.
Family is a beautiful thing which is given to each and everyone. There are both joys and sorrows faced in a family. When you are in a joint family it is very much hard. The financial situation matters the most. Always you should have the money management skills. You have mentioned in your post saying after your husband there is no financial support for you. My sincere advice for you is talk to your husband about the financial matters; please do adopt budget. Tell your husband to invest in some of the best mutual funds, or you better take up a job that will help you in the future, you can stand in your own leg. There is no need of financial support from anyone.