If you are in the middle of marriage preparations, you
may want to consider talking about your financial plan before
officially tying the knot. For example, if one of you has
sizable assets, you may want to consider consulting a marriage
lawyer to draft a prenuptial agreement for the both of you
to sign.
Are you planning on having a joint bank account? It’s
not necessarily a bad idea, but a newly married man or woman
may not have the same money management ideas as his or her
spouse does. It can come as a shock to one spouse when the
money from a joint bank account seems to be draining out
faster than water spiraling down a kitchen drain.
So, here is some marriage advice: now that the engagement
ring is on your finger, have those conversations about money
management with your fiancé (e). Be honest about
your spending habits. Come clean about your debts
Statistics show that newlyweds will argue about money more
than any other issue. If you don’t communicate honestly
about it now, you will likely need to get couple counseling
to talk it over, later.
Get the financial planning stuff out of the way now; that
way, once you’re a married couple you can talk about
bigger and better things, such as family planning. Wouldn’t
you rather do that?
