Invest in relationships: how the choice of a partner is associated with education and career Bashny.Net

 



© Vladimir Kush

In Russia money is not what is usually discussed with the family. And yet, according to economists, the choice of a husband or wife is the result of the choice of forms of education and place of work (although, of course, sometimes Vice versa). Together, these three elements allow us to create a personal financial strategy that causes UPS and downs.

In April, the economists of London's Institute of financial studies (IFS) Pierre-andré Chiappori, Monica Costa Dias and Costas Policy published a paper which tells about the relationship between education choice, "market" brides and grooms and the labour market. From the point of view of scientists, training, career and marriage (or civil official) to the interrelated elements of strategy that build our biography step by step: sometimes — from naked ambition for international recognition, and sometimes from reasonable hope for a complete collapse.

In order to assess how the three elements of the life of the scheme influence each other, the IFS experts created a mathematical model of the first 15 years of life after adulthood — from 18 to 33 years. They divided this period into three stages, but as an investment I decided to consider not only the money (e.g., cost studies), but also the so-called "human capital" — skills, the application of which generates income. "At the first stage the person usually invests in education, write the economists, and the decision here depends on innate abilities, cost, and potential benefits of investing forces. In the second stage it is usually already aware of their preferences in marriage and falls on the "marriage market". By the end of this period, someone builds a relationship, and someone is alone, sometimes permanently. At the third stage, with the beginning of working life, a person begins to evaluate your income, consumer spending and decisions on the labor market".

Of course, people often create family and after starting a career. But from an economic point of view, the choice of a spouse becomes a consequence of the choice of the University and the company, defining the main terms of communication. If we invest in the education money and career — power, you can get the "profit" in the form of appropriate love relationships. And I think it's a good deal.

"In the list of factors that affect marital choice is not only income, but also confidence in the future, risk tolerance, tax circumstances and insurance solutions"Like if before every vital decision to find a balance between an impulsive desire to follow dreams and plans for the distant future, you can create quite a successful strategy. Measured steps and thoughts every time help to dispel the short-sighted decisions and to assess what could be the consequence of an act (or transgression). Bad passing the exam, fearing career call or refusing to take into account the fact that the partner behaves with money is not as you can be in the wrong University at the wrong job, and next to the wrong person.

But what is a "suitable" husband or wife, and how to evaluate relationships? IFS experts explain that in family life, people usually create the overall positive or negative "balance" — the difference between income and expenses of both spouses, which distribute among themselves. That's why when choosing a partner we always assess its human capital. Does this mean that most people choose the richest? Scientists believe that there is. After all, a lot of human capital occurs not only on the basis of the developed capabilities and high expectations, but through willingness to take a risk. For example, the human capital of the young Steve jobs was more than its peers from wealthier families, although the income of the latter was higher.

That is why in the list of factors that affect marital choice is not only income, but also confidence in the future, risk tolerance, tax circumstances and insurance solutions. In the end, how we manage our money determines our lives. If a person is willing to stake everything he has, and his partner going to save up until retirement, they will struggle to find a common language.

The authors of the British study also talk about the concept of "useful life time", which consists, in their opinion, three components: subjective utility of marriage (or loneliness), cost spent on training efforts and the amount of accumulated "economic benefits" (real estate, savings, stocks, benefits, etc.). For calculating scientists use mathematical formulas, however, to evaluate the usefulness of their own lives without them: just look at their financial prospects and to assess whether you have the feeling that you are moving in the right direction.

IFS experts said that in financial terms the marital relationship tend to be useful for both partners, even if economic equality is not. "The balance of marriage" in this case would still be distributed evenly. Often "shares" the husband — and-wife admitted in a dependent position, though, and receives income.

According to the calculations of British economists, women are more likely to rely on financial equality in marriage, if he received higher education. For them the decision to go to University or pursue a career becomes an investment in life strategy and allows you to get equal treatment, not only in terms of Finance. To create an economically successful marriage, according to scientists, you need to consider what partner wants as a consumer, and whether he is inclined to risk money. If the views do not coincide, there is a possibility that "love boat" really "break for life".

Experts say that considered only financial factors of the relationship and did not take into account psychological compatibility, sexual preferences and other not related to the economy issues. And still, if to use their evaluation model of marriage or loneliness, you can look at your personal life from a different angle, to make it in the financial scheme and to appreciate things that before seemed something not related to money.published

 

P. S. And remember, only by changing their consumption — together we change the world! ©

Source: theoryandpractice.ru