How Men Manages Relationship and Money

Finance and relationships are the two most discussed topics in the world currently. In the Singaporean-Asian Culture, some older folks choose not to talk about it because money and financial management is a relatively sensitive topic to address. On the contrary, Singaporean millennials and Gen-Zs are getting excited talking about cash flow, personal finances and financial freedom. It is definitely a subject that people get enthusiastic about as there are many layers to be unearthed and a lot more than meets the eye.

Bring the discussion of finance and relationship in a company of men and you are most likely to ruffle some feathers. Coupled with excitement, you will witness wrinkles of concern form over men’s foreheads.

Why are men more likely to get concerned than excited?

How has the definition of a modern man evolved in terms of financial decisions and risk-taking abilities?

Most importantly, how do men’s financial decisions reflect their behaviors and beliefs in personal relationships?

Risk Taking Vs Avoidance

There are two types of men: the risk averse and risk takers.

Men who are risk-averse like to keep things calm, steady and measured. They are the ones who are in for the long haul and they plan far ahead into the future. Such men have been shown to be calm and cool yet passionate; risk-averse yet eager for success. They like to avoid high-paced, volatile investments, and whilst they never back down from challenges, they overcome them in an unhurried manner.

Alternatively, there are certain men who are risk takers. They tend to rely more on their instincts and are confident and bold when it comes to financial decisions. Men who are risk takers are the first to take advantage of a lucrative investment opportunity and are always leading and winning. The excitement of beating the inflation rates and outperforming bank interest rates enthralls them and gives them a sense of achievement. They like fast-paced investments and takes on the challenge if the risk-reward ratio makes sense to them.

It is important to highlight certain similarities between the risk averse and risk takers. Both types of men are active participants in growing their wealth and finances because they take action. Whether they wish to earn larger returns in the short term or over a longer term, they make calculated moves, save wisely, and invest smartly.

The Evolved Singaporean Man

For time immemorial, men have been conditioned to believe that they should be the sole breadwinner. Such outdated ideas have limited women’s employment opportunities and have also caused men to carry additional burden of responsibilities.

The modern Singaporean man prefers a relationship that is based upon equity and equal sharing of financial responsibilities and decisions. After all, the women today are educated and equally well-equipped so four earning hands are better than two!

Because of this, there has been an evolution in the way our Singaporean man manages his finances—Unlike the men of the past, he no longer just brings dole back home, and live hand to mouth. There is room to talk about savings, investments and how to grow their wealth! Interestingly, the millennials and Gen Zs in Singapore are becoming so aware of the need for proper financial planning that they start to discuss about their retirement planning the moment they start work! They prefer work-life balances and want to achieve quality lifestyles!

Men, Relationship and Money

Financial issues can be a significant cause for stress in romantic relationships. When setting up a home in Singapore, it is not a simple issue of getting just that BTO as a commitment. There are renovation loans to consider, wedding planning, children planning and grocery and living expenses splits to consider. These could cost rifts and strains in the relationship if they are not well-discussed or managed.

The modern sensible men, therefore, need to make sure they talk about financial decisions with their partner. One must always think of financial assets as “shared” assets because when two people are romantically involved with each other, they are likely to share a future together.

There is nothing that brings a sense of calm and certainty in a relationship than shared financial decisions and sharing of any losses. In this sense, financial planning can actually be pretty romantic!

Conclusion

The ability to make sound financial decisions is a necessary life skill. While some may have been borne with it, some men need to acquire it by learning.

What about those who cannot find the right path towards financial freedom?

For such men, we recommend hiring a financial planner who will help you channel your desires and drive for success in the right direction that will help you to invest, grow, and protect your wealth and all of your relationships!