Op-ed: ‘Is his money, our money?’

One question has dominated social media and daily conversations in Uganda for the longest time; ‘Is his money, our money?’ What began as a debate about daily spending and traditional gender roles has shifted to financial security.

For generations, the financial script was simple, men provided, women nurtured. A man’s income paid the bills, secured the family’s future, and carried the title of “our money.” Women’s contributions of caregiving and household management were essential, yet rarely quantified or recognized as economic value.

But that script is changing. Today, women are more educated, more ambitious and increasingly occupying leadership roles.

In many households, women now earn as much or even more than their partners. This shift has sparked conversations and shifted narratives-‘Is his money really our money?’

In a world of rising uncertainty, economic shocks, health crises, and climate risks, income alone is not enough. Protection, planning, and financial literacy are critical. Insurance, savings, and investment strategies transform income into security and legacy.

With insurance, love is a plan! The focus is on saving for a partnership and growth investments rather than on spending thus providing a permanent solution.

For many young couples, this debate isn’t about selfishness; it is about the lack of a shared safety net. According to the recent industry insights from the Insurance Regulatory Authority (IRA), the tension often stems from the fear of the unknown.

The debate usually hits a dead end because most partners focus on the wallet and not the future. Insurance companies are now rolling out partnership plans specifically designed to bridge this gap.

Regardless of who earns more, the child’s education is a shared goal. With education plans, make regular contributions, and when the time comes for school fees, the funds are paid out as planned. When you save early and consistently, the pressure reduces, and you gain peace of mind.

Instead of arguing over monthly contributions towards the joint savings account, couples should opt for unit plans for themselves and their loved ones.

When you invest in a Unit Trust, your money is combined with that of other investors. This pooled money is then managed by professional fund managers who guide you in making investment decisions.

Fund managers are the financial professionals who analyze market trends and select securities to maximize returns. This allows investors to buy and sell their units at any time, making it easier to access funds when needed.

Whether you believe that his money is “ours” or strictly “his”, the reality is that individual wealth is fragile. Insurance companies are offering a way in which Ugandans can maintain their autonomy while fulfilling the most important duty, which is protecting loved ones and growing together financially.

So, the next time that you and your partner argue about the budget, ask yourselves this question, “If my money is mine and yours is yours, whose money will pay the bills if one of us is no longer here? What’s your plan?”