Young Entrepreneurial Couple Shares How They Split Bills and Navigate Finances in Life and Business

• A young entrepreneurial couple who is making waves in Mzansi shared how they split the bills in their household
• In an exclusive interview with Briefly News, the owners of Shalom Home shared insight into how to navigate financial decisions together as partners in both life and business
• The adorable duo also gave tips to other entrepreneurial couples on how to manage their finances effectively

In an era where financial strain and entrepreneurial risk often strain relationships, one couple in Mzansi is redefining the new standard for balancing business and personal finances. Emmanuelle and Ntsako Mgiba have built successful individual enterprises and crafted a blueprint for other entrepreneurial couples to follow.

The heart of their financial strategy

Emmanuelle, an impact consultant and development practitioner and Ntsako, a tech startup founder and designer, attribute their financial success to a policy of complete transparency.

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"We are very transparent about our finances both in business and in our personal lives. We work together and ensure that the financial decisions we make are in the best interest of our businesses and family unit," Emmanuelle explains.

Unlike many couples who struggle with dividing bills, the entrepreneurial couple has opted for a joint financial system, which allows them to contribute to their home "while ensuring we still have some money to spoil ourselves and each other," says Ntsako.

Prioritising family and business

When prioritising and managing their businesses' finances as a couple, the Mgibas say they are meticulous in ensuring that their financial decisions do not jeopardise their family's stability.

"We prioritise our family's needs above all else; we ensure that we are able to cover our expenses and any investments into our business are carefully considered and planned for."

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The couple shared that they maintain separate accounts for their businesses, which helps them clearly distinguish between their personal and professional finances. This separation allows for better tracking of business expenditures and ensures that their finances remain unaffected by business risks.

Budgeting is the way to go

The Athari Bantu and Darkies in Tech owners are strong advocates for budgeting, which helps them track their expenditures and manage their finances. This allows them to understand their spending patterns and make adjustments when necessary.

'We also have separate accounts for our businesses. That way, we are able to manage business income and expenditure in a clear way," they both explained.

Tips for entrepreneurial couples striving to manage finances effectively

• Don't rush to leave your 9-5 job: The Mgibas advise you not to leave a stable job until the business can comfortably cover all expenses and provide a consistent income.
• Transparency and teamwork: Being open about finances and working together is crucial. They stressed the importance of making financial decisions that do not negatively impact the family’s cash flow.
• Budgeting and professional help: The key to managing finances effectively is using a budget and seeking professional help.

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From Bushbuckridge to tech titans: Ntsako and Emmanuelle Mgiba's entrepreneurial journey and more

Cardi B says couples should split their bills 50/50, peeps weigh in

Briefly News previously reported that Cardi B had spoken about couples splitting their bills equally.

The Set It Off rapper called out the women who expect their partners to cover all the expenses of the house, saying they needed a reality check. Bodak Yellow hitmaker Cardi B addressed the never-ending topic of couples going 50/ 50 on their bills.

Source: Briefly News