Getting married is a joyous occasion that should be about bringing two people together to love each other and want to make a life together. But sometimes once the wedding is over, problems can arise. One of the main causes of marital problems is financial difficulties between partners. Figuring out your finances together before you get married can help you to avoid this problem.
Discuss Finances Openly
One of the worst things you can do for your marriage is to avoid talking about finances altogether. Having open financial discussions will make it easier for you and your future spouse to deal with financial issues when they come up. According to WSECU, when partners are not comfortable talking to each other about finances, issues will often arise that can be detrimental to the marriage. Often people make assumptions about how finances work once they’re married, but if you don’t have an open conversation your assumptions may be incorrect and that can lead to arguments.
Consider a Prenup
In some situations, you want to consider having a prenup in place before you get married. According to Dorie A. Rogers, prenups are more valuable when one party has significantly more assets than the other. The prenup can protect you financially and help to mitigate arguments about money later on in the marriage. That said, a prenup doesn’t necessarily make sense if you and your partner come from similar income brackets. It’s important to discuss the possibility of the prenup together so that no one is caught off guard or surprised.
Set Goals Together
If you want to avoid financial difficulties as a couple once you’re married, according to Clever Girl Finance, it can be helpful to set financial goals with one another. This also means understanding each other’s financial habits, so you can set reasonable goals and have appropriate expectations. For some couples having joint accounts makes a lot of sense, while for others, individual accounts are more practical. Some people prefer a mix of the two. What really matters is that you talk to each other and get on the same page so that you can continue building your relationship and not get caught up in financial problems.
You should not stop talking about finances once you’re married. Instead, you should make talking about finances a regular part of your relationship so you can check in with one another and help each other. Your finances don’t have to be a major issue of contention if you keep open communication and work together.
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