A Comprehensive Study on Female Spouse Participation in Financial Communication during Family Financial Decision Making

Money discussion is always a taboo in any relationship especially in that of marriage. Couples don’t want to discuss much about financial matters which although is very important in this inflationary world. Sharing responsibilities within marriage is equally important as sharing financial responsibilities for the family. There cannot be bifurcations based on genders or any other categories. So, during family financial decision making, role of female spouse becomes equivalent important as she is both privileged & accountable for the repercussions like her spouse. Involvement of female spouse in financial decisions starts with the step of involving her in financial communication related to it communicating, how could one involve her? Thus, whole study will focus on these female spouses’ involvement in financial communication regarding their family financial decisions. Here, implications of financial communication marital life, personality, status of involvement, family type, etc. will be discussed & accordingly suggestions are recommended.


INTRODUCTION
Communication is a process by which people create & share information with one another in order to reach common understanding (Rogers, 2000) exchange of an information ,thought or emotion between individuals or groups. Basically, @ IJTSRD | Available Online @ www.ijtsrd.com | Volume -2 | Issue -2 | Jan-Feb 2018 Money discussion is always a taboo in any in that of marriage. Couples don't want to discuss much about financial matters which although is very important in this inflationary world. Sharing responsibilities within marriage is equally important as sharing financial responsibilities . There cannot be bifurcations based on So, during family role of female spouse important as she is both & accountable for the repercussions of it as Involvement of female spouse in financial decisions starts with the step of involving related to it. Without communicating, how could one involve her? Thus, the on these female spouses' financial communication regarding Here, several financial communication on a person's marital life, personality, status of involvement, family type, etc. will be discussed & accordingly suggestions Money discussion, Financial Communication, Family Financial Decisions, Female a process by which people create & share information with one another in order to reach (Rogers, 2000). It is the ,thought or emotion between individuals or groups. Basically, it's an activity of conveying informa receiving its feedback.
Financial communication is also on aspects of general communication conversations between two or persons related to financial matters. This article is about financial communication attributes which is i.e. husband & wife. Financial issues play a significant role in marital relationships add anything to beautify the relationship but its problems & imbalances can mess up & part ways for them. So, they carefully. Mostly, couples do not communicate in general, which acts a back burner in their relationship (Shebib, 2016).
Talking about finances between the couples is considered as unusual. Husbands usually don't want to discuss monetary things with his wife very little with her in maximum situations. So, this thing becomes a concern in this inflationary world where a single wrong financial decision can prove costly to the family. Second part has a series of close ended indirect questions which were designed in frequency or involvement in their family financial decision making through financial communication.
Third part consist of open ended question to personality development changes a women needs to bring in herself in order to be a financial decisions & their expectation from their husband so that they understand their importance.
The data was collected through filling of questionnaire prepared by Google mailed to the respondents. Around approached for this purpose out of which 80 were finalized.
For the purpose of data -1. Presentation-Charts were used . 2. Analysis-SPSS tool & Ms 7 hypotheses were framed. 3. Interpretation-Results obtained through above tools were presented.

Data Analysis & Interpretation
After getting the questionnaire filled by the respondents the data was summarized & now presented as follows- Second part has a series of close ended indirect questions which were designed in order to know the frequency or involvement in their family financial making through financial communication.
Third part consist of open ended question to know the t changes a women needs to in herself in order to be a prominent part of their & their expectation from their husband so that they understand their importance.    Here, after analysing the two variables I concluded that both are strongly related with each other through co-relation coefficient which came to be 0.824 & it was significant at 5% level. Mutual Decisions are always better as compared to taken by single ones. They generate feeling of trust upon each other, boost the confidence level on other's decision which are very important to run a successful marriage.  After reviewing the data for the above two variables value obtained through t test were t value=2.31 & p value (α)=0.023 which is lower than significant value of 0.05 or 5% level which tends to reject the hypothesis. Here, it becomes quite self-evident that the experience earned through managing money all over the years has improved her techniques which are benefiting & will benefit the family regarding the money resource management with limited sources. During the analysis of data for the above hypothesis, the value obtained through t test were t value=7.71 & p value(α)=0.000 which is lower than significant value at 5%level of significance. Here, the hypothesis tends to be rejected & proves that educational qualification of females affects their participation in financial decision making. In maximum cases, strong educational background prompts more involvement in communication with the spouse & family on financial matters. presence of elder members of family while nuclear family promotes equal involvement of both the spouses during any decision. she is considered a last person to be included in it. Elder members of joint family specially father-inlaw, mother-in-law, other in laws can exclude her intentionally or non-intentionally presence where nuclear family promotes her involvement with financial decisions more as there are less people to discuss or interfere.

Suggestions
 Money discussions should be frequent between a couple because home management is a joint effort & both are equally important for its success or failure.