Getting married can be a whirlwind experience. Between venue searching, trying on dresses, renting tuxes, assembling the bridal party, booking a DJ, and cake tasting – it can be easy to forget all that getting married means. Underneath the ring exchange and sharing of vows, there is a potentially life-long financial contract which you should also be prepared for.
Before you marry the love of your life, you need to get financially engaged with one another. Right now, disagreements over money are a top reason for separation and divorce. You have already popped the big question, and now it is time to ask a few more.
Here is a list of financial questions you should ask before tying the knot:
- What does the ideal marriage look like and how does it fit into our career goals?
- What is our savings plan going to look like? Our budget?
- Should we keep our finances separate, or join them together?
- Who will be responsible for making sure which bills get paid?
- What types of insurance will we need and how will we pay it?
- Do you have any loans or debt that needs to be paid off?
- Do you want a family, and if so – how big do you want our family to be? When should we start saving for college?
- What does our ideal retirement look like and how do we get there?
There are many keys to a successful marriage, but together you can make sure you leave out the poorer in “for richer or poorer.” Openly discussing your finances can keep you happy, healthy, and wealthy in your marriage.
Article Source: Tyler Atwell for CUInsight.com