Yesterday, I attended my cousin’s wedding, and amid the celebrations, something caught my attention — The Third Phera.

Pandit ji reciting the mantra, “Om rayas santu joradastayaha,” he chanted, followed by the Hindi explanation:
“Aap ek doosre ko apni aay aur vyay bataoge… apni sampatti, dhan aur samriddhi ek doosre ke saath saanjha karoge.”

In simple words:
You will share your income and expenses. You will share your wealth, money, and prosperity.

It struck me then, this wasn’t just a prayer for wealth.
It was a promise of financial transparency.

The Wisdom Hidden in Plain Sight

The third phera isn’t about becoming rich.
It’s about becoming aligned.

Long before spreadsheets, apps, or bank statements existed, our traditions understood something deeply human:
That money, when hidden or avoided, quietly creates distance between partners.

As I looked around at the married couples attending the ceremony, a question lingered -
How many of us truly live by this vow after the wedding rituals are over?

The Modern Financial Disconnect

Over the years, while interacting with couples and families, a pattern becomes clear. Money is rarely the problem; silence around money is.

Let’s look at two extremes:

The Avoiders
Couples who never talk about money. Finances remain a sensitive, uncomfortable subject. Each partner manages their own income, expenses, and decisions, often unaware of the other’s realities.

The Separatists
Couples who say, “Hum to daily hisaab clear kar lete hain. Uska kharcha uska, mera mera.”
It sounds practical, but slowly, the relationship starts functioning like a shared apartment, efficient, yet emotionally disconnected.

Between these extremes lies the real issue:
Money becomes one of the largest sources of stress in marriages.

Different spending habits
Unspoken expectations
Lifestyle pressure
Hidden purchases or liabilities
Impulsive decisions made alone

None of these start as problems, but they grow into them.

What Financial Harmony Actually Looks Like

Most financially happy couples don’t necessarily earn more.

They:

• Talk openly about money, without judgment

• Plan goals together instead of individually

• Respect each other’s money personalities

• Align on priorities like home, children, and long-term security

• Avoid financial surprises by making decisions jointly

At The Financial Mall, one quiet observation stands out:
Couples who feel at ease financially are not those with perfect plans, but those with clarity and shared understanding.

The Financial Date: An Underrated Ritual

Couples plan date nights, holidays, and celebrations.
But how often do they plan money conversations?

Think of financial check-ins as another form of care:

Monthly Check-ins (30 minutes)
A casual review of income, expenses, and upcoming decisions, over coffee.

Quarterly Conversations (2–3 hours)
Revisiting goals, adjusting plans, and discussing big expenses on the horizon.

Annual Financial Reset
A longer, calmer session to reflect, realign, and plan life events.

These don’t need jargon. They need intent.

Honouring the Third Phera in Real Life

1. Start with honesty
   Share incomes, liabilities, assets, and even past financial mistakes.

2. Set shared goals
   Short-term comforts, medium-term milestones, and long-term dreams.

3. Create a system that suits both
   Joint, separate, or hybrid, what matters is clarity and agreement.

4. Build financial intimacy
   Understand each other’s money memories, fears, and habits, without judgment.

Sometimes, couples want to have these conversations but don’t know where to begin. That’s where The Financial Mall helps, not by telling couples what to do, but by helping them see their complete picture together, calmly and clearly.

More Than a Ritual, a Responsibility

Marriage has always been a partnership, emotional, spiritual, and financial.
The pheras were never meant to be symbolic alone. They were meant to be practical wisdom.

The third phera reminds us that financial stability isn’t an individual pursuit; it’s a shared responsibility.

When couples honour this vow, they don’t just build wealth.
They build trust, reduce friction, and create a future rooted in transparency.

Your Financial Partnership Starts Here

Whether you’re newly married or years into your journey, it’s never too early, or too late, to revisit the promise of the third phera.

At The Financial Mall, we believe financial harmony grows from clarity, ongoing conversations, and shared awareness, not complexity or pressure.

Because when couples align financially, they aren’t just planning numbers.
They’re strengthening the foundation of their relationship.

How do financial conversations look in your relationship?
Easy, awkward, or avoided altogether?

Remember: The goal isn’t perfect agreement on every financial decision, but rather open communication, mutual respect, and shared commitment to your collective financial well-being.

Frequently Asked Questions (FAQs)

1. What does financial transparency mean in a relationship?

Financial transparency means openly sharing income, expenses, debts, assets, and financial goals with your partner, without secrecy or judgment.

2. Should married couples manage finances jointly or separately?

There is no one-size-fits-all approach. Some couples prefer joint systems, others hybrid models. What matters most is clarity, agreement, and shared long-term planning.

3. How often should couples discuss finances?

Ideally, couples should have:

• Monthly financial check-ins

• Quarterly goal reviews

• An annual financial reset

Regular conversations reduce stress and improve decision-making.

4. How can couples improve financial communication?

Start small. Choose calm moments, avoid blame, listen actively, and focus on shared goals rather than individual mistakes.

5. How can couples get clarity about their financial situation together?

Using structured tools, organised discussions, or neutral platforms like The Financial Mall can help couples see their complete financial picture clearly and calmly.

Ready for a couple review? Lets Chat and align it with your goals.

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Written by: Neeraj Chauhan, CFP
Edited by: Madhav Chauhan, CFA, CFP®
Got a question or need a quick financial insight? Lets Chat

Last month, a client was rushed to a reputed private hospital in Gurgaon with a cardiac emergency (CAD). He had a ₹10 lakh health insurance policy from a PSU insurer. On paper, it looked sufficient.

In reality, it wasn’t. Within 7 days, the entire sum insured was exhausted. By Day 15, the hospital bill crossed ₹20 lakhs, driven by complications and additional procedures.

With savings stretched and no adequate buffer, the family was forced to shift the patient mid-treatment to a government hospital.

Not because they wanted to. Because they had no choice.

This isn’t an exception anymore. This is becoming the norm.

The Silent Crisis: Medical Inflation vs. Health Insurance

Medical inflation in India is rising at ~14% annually—almost double the growth of most household incomes.

What does this mean in real terms?

• A single hospitalisation in a Tier-1 corporate hospital can cost ₹10–25 lakhs. Complications can push costs even higher

• ICU stays, advanced diagnostics, implants, and specialist fees escalate bills rapidly

According to a report published by The Economic Times:

• A kidney transplant that cost ~₹5 lakh in 2013 now exceeds ₹18 lakh

• A heart transplant can cost up to ₹34 lakh in some cases

Yet, many families still rely on ₹5–10 lakh health insurance covers, numbers based on an outdated cost structure.

Source: 🔗 https://www.outlookmoney.com/insurance/health-insurance/surgery-costs-surge-by-300-per-cent-over-last-decade-learn-to-manage-expensive-health-bills

The Big Question: Why Are We Still Underinsured?

Because for years, health insurance was sold as a checkbox, not a financial safeguard.

A ₹5 or ₹10 lakh cover today is like using a candle in a thunderstorm. It exists, but it doesn’t protect.

And the problem is compounded when people assume:

• “My employer’s cover is enough”

• “I’m healthy, I’ll upgrade later”

• “Hospitalisation won’t happen to me”

Unfortunately, illness doesn’t follow logic, age, or any timelines.

What Thoughtful Health Insurance Planning Actually Looks Like. At The Financial Mall, our approach has always been simple: anticipate reality, don’t react to crisis.

Here’s what responsible coverage looks like today:

1. Cover Early

Buying health insurance when you’re young isn’t about saving on premiums; it’s about locking in insurability and avoiding exclusions later.

2. Cover Adequately (Base + Top-Up)

Instead of relying only on a basic policy, combine it with a top-up or super top-up to handle high medical costs efficiently.

3. Review the policy every 2–3 Years

Your health cover should grow as your:

• Age increases

• Family expands

• Medical costs rise

A static cover in a dynamic world is a risk.

4. Don’t Depend Only on Employer Insurance

Employer covers are:

• Limited

• Temporary

The TFM Philosophy: Planning for Dignity, Not Just Bills

At The Financial Mall, with over three decades of experience, we’ve seen one truth repeat itself:

Medical emergencies don’t just test your health; they test your preparedness.

Good health insurance is not about numbers on a policy document.

It’s about:

• Continuity of treatment

• Financial dignity

• Peace of mind for the family

• Avoiding forced compromises during critical moments

Because when life knocks unexpectedly, your insurance should be ready to answer the door.

FAQs

Q. Is ₹10 lakh health insurance enough today?

With healthcare costs rising rapidly, especially in private hospitals, many families find that older coverage may not align with present-day expenses. At The Financial Mall, such questions are usually addressed by reviewing existing coverage in the context of current medical realities, helping families gain clarity rather than rely on assumptions.

Q. Can I rely only on employer-provided health insurance?

Employer health insurance often offers limited and temporary protection, which may change with job transitions or retirement. At TFM, these aspects are typically discussed early on, so individuals can better understand the role of personal health insurance alongside employer cover, ensuring continuity over time.

Q. What is the role of top-up or super top-up plans?

Top-up plans are commonly used to manage higher medical expenses without significantly increasing base premiums. At The Financial Mall, this structure is often explained in a way that helps families understand how additional layers of coverage work, rather than viewing insurance as a single fixed number.

Q. How often should health insurance be reviewed?

Health insurance is not a one-time decision; it’s a long-term commitment. Changes in family structure, age, and medical costs can affect adequacy. At TFM, periodic reviews—typically conducted every 2–3 years—are viewed as a means to maintain coverage alignment with evolving needs, without waiting for a medical event to trigger action.

Q. When is the right time to upgrade health insurance?

Insurance decisions tend to be most effective when made in advance, not during emergencies. At The Financial Mall, the focus is often on timely conversations and early awareness, so families are prepared rather than forced to make decisions under pressure.

Q. Does health insurance really keep pace with medical inflation?

Medical costs rise faster than most insurance covers. Unless reviewed and updated, a policy can lose relevance over time. At The Financial Mall, periodic reviews help ensure coverage stays aligned with today’s healthcare costs rather than relying on outdated limits.

At The Financial Mall, conversations around health insurance are focused on clarity and preparedness, so decisions are made calmly, well before they are needed.

Conclusion:

Insurance Should Reduce Stress, Not Create It

A ₹10 lakh health insurance cover may have once felt reassuring. Today, it often offers false comfort.

Medical emergencies don’t arrive with warnings. They escalate quickly, emotionally and financially. And when insurance falls short, families are left making impossible choices about hospitals, treatment, and outcomes, at the worst possible time.

The real risk isn’t getting hospitalised. The real risk is realising too late that your cover was never designed for today’s costs.

At The Financial Mall, it has always been about aligning insurance with reality, reviewing it periodically, and ensuring families aren’t left vulnerable when it matters most.

Because illness doesn’t knock politely. But your insurance should be ready to answer the door.

Ready for your free coverage review? Lets Chat and align your insurance with reality.

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Written by: Neeraj Chauhan, CFP
Edited by: Madhav Chauhan, CFA, CFP®
Got a question or need a quick financial insight? Lets Chat