Money and Marriage, Can They Be Mixed?

Getting married is one of the single most important things that you will do in your adult life. It shows maturity, both socially and emotionally, but did you know that marriage can also be a source of financial strife in a relationship? Money and Marriage, Can They Be Mixed?


marriage and moneyMore arguments between two married people happen because of money; either the lack of it or improper use of it is the two main reasons. Having the financial “talk” before you decide to get married is something that every couple should do as it will make your married life much more enjoyable and it will keep you both on the same page about your finances.

Below are some topics that you should include in your financial talk with your partner. Some are more common sense oriented, while others you may not have thought of before now.

INCOME:

How much a person makes is very important to them and you don’t want to make them feel as if they are inadequate because they are not making enough or as much as you. You are both in this together and should act as a team when it comes to the finances. Understanding each other’s salary and what they require will go a long way in keeping a marriage afloat. Talk about your expectations and let each other know how you feel about what you are making and what the other person is making and about each of your own potential when it comes to income.

DEBT:

How much debt each of you carries can have an adverse effect on the other person and what their own expectations and needs are. If you have a lot of debt, tell your mate about it; you can work together to find a solution that works for the both of you and will ensure you have a solid, debt-free future ahead of you.

FINANCIAL PRIORITIES:

Consider each other’s financial priorities and understand where each other is coming from. Knowing what each of you hold as important will keep you both on track with your spending and ensure there are no financial surprises later on down the road.

BILLS:

Many couples merge their finances and pay the bills out of one singular household account. This may work for some, but not for all. If you decide not to pool your financial resources, you will need to decide who will pay for what and how often. You can divide the bills right down the middle or by who uses what more often. However you do it, it should be settled before you get married.

Financial compatibility is important to any agreement especially a marriage. If you are not able to sit down and talk about your finances like two mature adults, you might not be ready for marriage.

marriage and money can they be mixed?

Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

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NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

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