Couples who started businesses together face financial chaos; love alone couldn’t save them Singapore News [Video]

As couples celebrate their love and commitment, those starting a business together embark on an exciting yet financially demanding journey. The road to success in business can be rewarding, but without solid financial planning, it can create considerable stress on both the business and the relationship. While shared goals can strengthen their partnership, overlooking financial challenges can lead to tension, highlighting the importance of careful financial management from the outset.

Transforming financial challenges into growth opportunities is key to fostering both your entrepreneurial ambitions and personal harmony. Here are some crucial financial planning factors for couples to consider when starting a business together, according to an article from Money Control.

The power of separate emergency funds

Running a business is inherently uncertain, which makes having a financial safety net crucial. But here’s the catch: one emergency fund isn’t enough. Couples should create two separate emergency funds—one for personal expenses and another for business-related costs.

According to Amit Suri, …