Money & relationships: What you should do if your husband doesn’t share financial details

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Try to seek the help of a mediator if your husband is reluctant to share crucial financial information
Among married couples with a single earning partner, a skew often slips into the financial equation. If the husband takes care of everything, from earning and spending, to saving and investing, there is a tendency to dictate terms to the non-earning spouse. In some cases, the wife has to ask, remind or grovel for money every month to take care of household or personal expenses. In many marriages, the husband shares money, but not information regarding his salary, spending or investments. It is crucial for both the spouses not only to be in the loop when it comes to finances, but also be equal beneficiaries of wealth. If you are not, and are having trouble finding common ground, go through the following points to know what you should do.

1. Know your financial rights
A wife has the legal right to secure basic amenities and comfort—food, clothes, residence, education and medical treatment— for herself and her children from the husband. So, understand that as a homemaker, you should not have to ask your husband for money; he is bound by law to provide it to you. Also, the wife has a right to know the details of her husband’s salary, as per a 2018 ruling by the Madhya Pradesh High Court. This is important because the quantum of salary will provide clarity to the wife about how much money she can have for household and personal expenses.

2. Show interest, split financial responsibility
If your husband does not share financial information, it is possible that at the start of the relationship, you did not evince any interest in financial transactions. If you want to change the status quo, have a conversation about it with the spouse. It is important to not only display interest, but also split financial responsibilities as per your individual skills. If you are good with investments, take on the responsibility, leaving the tasks of earning and paying bills to the husband. If investing is not your forte, you could handle the household budget and payment of bills, leaving investments to the spouse.

3. Get this information
If the husband is not sharing information out of habit or laziness, not malice, make sure you seek it from him periodically. Both the partners should be in the know about important financial aspects because if one were to pass away, the other should not be left clueless. While it is not important that you communicate on a day-to-day basis, both should be on the same page when it comes to goals and budgeting. Make sure that you know the accounts and passwords of all online and offline saving and investment accounts. You should also know about the investments in your or your spouse’s name, and have access to original documents of all insurance policies, be it life, health, vehicle or house. Finally, ensure access to will and property documents, essential for smooth transition of assets.

4. If husband refuses
If you have tried to talk to your husband about the need to share crucial financial information, and he is reluctant to do so or refuses outright, try to seek the help of a mediator. This person can be a trusted confidant or older relative, respected by both spouses, who can help clear the impasse. If this doesn’t work, approach a financial adviser, who can take an objective and pragmatic stance on the need to share financial details. If this, too, fails, seek a marriage counseller as a last resort because the issues and fissures are clearly deeper, involving your marriage, not merely your finances.

IF YOU HAVE A WEALTH WHINE, WRITE TO US…
All of us have been in a financial dilemma when it comes to relationships. How do you say no to a friend who wants you to invest in his new business venture? Should you take a loan from your married brother? Are you concerned about your wife’s impulse buying? If you have any such concerns that are hard to resolve, write in to us at [email protected] with ‘Wealth Whines’ as the subject.

Disclaimer: The advice in this column is not from a licensed healthcare professional and should not be construed as psychological counselling, therapy or medical advice. ET Wealth and the writer will not be responsible for the outcome of the suggestions made in the column.

[“source=economictimes.indiatimes”]

New technology should dramatically reduce cellphone scam and robocalls

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RALEIGH, N.C. (WNCN) There’s new hope in this new year that fewer scam or robo-calls will bother people thanks to new technology and blocking efforts by service providers who are being pushed by the FCC to make changes.

In March, Verizon says it’ll be providing its customers with a free app that will help filter out scam and robo-calls.

It will join T-Mobile and AT&T who also offer various forms of free filters aimed at reducing the annoying calls.

Robo-calls from telemarketers and scam calls are inundating mobile phones.

Many of the scam calls originate from overseas using technology that clones or spoofs legit numbers to make it look like the call is coming from someone you know.

It’s getting worse, according to a company that offers data solutions to mobile carriers.

First Orion says it’s anticipating in 2019 at least half of all calls made to cell phones will be fraudulent.

“What we tell people is if you don’t recognize the phone number, don’t answer it,” says Gavin Macomber who is a Senior vice president of First Orion.

He says when you answer a call and start engaging with someone — like pressing a number to connect to an agent, “as soon as you do that, you’ll start receiving a lot more scam calls.”

But there is technology being brought on line that may start eliminating scam or robo-calls right from the source of that call.

Last week T-Mobile began offering “Caller Verified” service.

It’s using a new technology nicknamed STIR and SHAKEN which the FCC wants all carriers to adopt.

STIR stands for Secure Telephony Identity Revisited and SHAKEN is an acronym for Secure Handling of Asserted information using toKENs.

It’s sort of like a digital fingerprint for phone calls.

Here’s how STIR AND SHAKEN technology work:

  • When a person makes a call, the caller’s service provider checks the source of the call and the number with an authentication service to make sure it’s legit.
  • It then sends the call to your service provider using a special authentication code.
  • Before the call is passed on to you, your service provider does a double check by sending the authentication code to another verification service.
  • That verification service checks the number against a database called a certificate repository.

 If it all checks out, and isn’t a robo-call or a cloned number, the call is then passed to your phone.

This all happens in a matter of seconds because it’s all done electronically.

The STIR and SHAKEN technology will work best when all carriers adopt it.

Otherwise, a scam or robo-call from a non-participating carrier can still get through to your phone even if your provider is using that tech.

Right now, only calls to and from T-Mobile phones are screened with this technology.

Other carriers have said they’ll get on board with STIR and SHAKEN soon  — and the FCC is pushing them to do it as quickly as possible.

[“source=cbs17”]