Money Matters: Getting Married and Staying Married
We are approaching the wedding season and while it is a happy time for all involved, money issues can crop up quickly for young couples if “things” aren’t discussed before walking down the aisle.
You have two separate financial situations as well as histories coming together. How much do you know about your future spouses financial background? It would be quite a shock to join in holy matrimony and suddenly be saddled with the love of your life’s debt issues that you had no clue about!
It all boils down to one word: COMMUNICATION!
Practical Money Skills for Life offers some great advice. First, get to know each other’s financial histories, strengths, goals and challenges. Discuss your experiences with money, saving and credit. Ask about your partner’s financial history and what he or she expects when it comes to marital finances and financial planning. One of the biggest reasons for divorce? We’ve all heard it…finances.
Also, consider financial planning. Before you tie the knot, it can be useful to meet with a qualified, objective financial planner together. A financial planner can help you develop financial goals as a couple and create a shared budget. This is also an excellent way to ensure you are in agreement about important financial topics.
- Tax Implications of Getting Married (turbotax.intuit.com)
- Here’s a 7-step blueprint for a happy marriage, money-wise (usatoday.com)
- Money Matters: What are You Worth? (wistatetreasury.wordpress.com)
- Tips for Talking Money With Your Spouse (newser.com)