Financial Partnerships Start at Home: A Raksha Bandhan Reflection

Table of Content

1. Boundaries

2. Shared values

3. Open book

4. Share details

5. Communication is key

6. This Raksha Bandhan

When you talk about partnerships, you often think of business deals, team projects, or marriage. But the first financial partnership most of us experience begins much earlier. Often, it starts at home with a sibling. Your brother or sister may have been the first person you saved up with, argued over money with, or even borrowed from. These moments, though small, shape how we view money, responsibility, and trust.

Boundaries

Growing up, money isn’t just a tool. It’s part of every relationship. Your sister might have taught you to plan before spending. Or your brother might have encouraged you to buy something together. The choices you made such as to save, to split, or to lend, started building your financial instincts. Raksha Bandhan is a reminder of this bond. Beyond gifts and sweets, it’s also about being there for each other in meaningful ways, including financially.

Siblings often teach each other boundaries. You learn that just because one has more doesn’t mean they owe the other. Or that trust doesn’t mean hiding debts. These early lessons form the base of what we later apply in adult relationships such as those with partners, spouses, and children.

And as we grow older, those lessons matter more than ever.

Shared values

Marriage is another kind of partnership. But unlike with siblings, money becomes more complex. It’s no longer about ₹50 borrowed and forgotten. It becomes a shared system one with bills, goals, emergencies, and dreams. And like any shared system, it can only work if both people know the rules and have access to the controls. Yet, in many Indian families, only one person manages the money. 

There’s nothing wrong with one person leading the financial planning, but there is a problem when the other has no clue. This is more common than you think. There are cases where families only find out about life insurance, savings accounts, or fixed deposits after the main breadwinner passes away. Sometimes, they don’t find out at all.

This is not just a gap in communication. It’s a gap in care.

Open book

If you are truly in a partnership, whether with a spouse or a sibling, hiding information isn’t trust. It is risk. Responsible financial behaviour means your family knows where things are, what policies you hold, and how to access them in case something happens to you. It also means having the right protection, in the form of life cover in place, not just for yourself but for them.

That’s where term insurance steps in. The idea isn’t just about claiming something after a loss. It’s about clarity while you're still around. Clarity about roles, decisions, and how your absence won’t cause chaos. A good term plan should first and foremost have adequate life cover in place for you and your loved ones. This means that the financial needs will be taken care o in case of an unfortunate event. 

Additionally, it should be flexible enough to evolve with your life’s needs. Customisation with riders helps giving additional protection, so you know that your would have the funds to cover the cost in case of an emergency.

Share details

In many Indian families, parents tend to live with their sons. This means that most of the financial and medical decisions are taken by them. It is necessary that siblings share information and responsibility for their families. 

Having a policy is only half the job done. The other half is sharing the details. Ensure both you and your sibling know about the policy. Keep the document accessible. Add a nominee. Review it regularly. Don’t make them search through files or bank apps while grieving. This is not only about planning. It’s about love, clarity, and respect.

The same principle applies to savings and investments. Set up joint accounts if needed. Or at least make sure someone knows where the money is. Don’t assume they’ll figure it out. And if you're the one not handling money, ask questions. It’s not interference. It’s involvement.

Too many of us mistake silence for peace. “She doesn’t need to know.” “It’s not the right time to talk about money.” But when the time finally comes, not knowing can be a costly mistake.

Communication is key

Partnerships thrive on communication. That means agreeing on spending, sharing updates, and supporting each other through ups and downs. It also means setting boundaries. Money decisions should not come with guilt or confusion. They should come with shared understanding.

Remember that your habits are being watched, especially by children. If they see you plan, share, and take care of each other financially, they grow up with the same mindset. They learn that money isn’t a weapon or a secret. It is a responsibility. That’s the kind of role modelling we need more of.

You don’t need to be rich to do this. You just need to be honest. Start with small steps. List out your policies, tell your partner where they’re stored, explain how claims work, and if possible, sit together once a year to review everything.

If you’re unmarried, discuss with your parents or siblings. Ask them if they’ve nominated someone. Tell them about your plans. Financial partnerships don’t always need signatures or shared accounts. They begin with openness.

This Raksha Bandhan

Raksha Bandhan is not just a day to tie a thread. It’s a chance to renew a promise. Not just to protect each other physically, but also financially. In a world that changes so quickly, a little planning goes a long way.

So this year, don’t stop at gifts. Start a conversation. Check if your sister has a term cover. Ask your brother if he has an emergency fund. If you’re married, sit down and share account details.

These talks may feel awkward. But they are acts of love.

Because when you care, you prepare.

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ARN: ED/07/25/25060

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