Have you gotten engaged recently or maybe a while ago and now you’re planning your wedding? It is such an exciting time, isn’t it? I know discussing finances while planning one of the most special moments in your life may not be the most romantic thing to do. But it is a very important part of a marriage that often gets overlooked during the initial stages of courtship. Statistics show that money is one of the most common reasons marriages fail.
When my wife and I started dating, money was one of the first things we discussed even before getting engaged (although we both knew early on that we wanted to get married). It is one of the best things we did for our relationship. One really helpful book that we used to guide our talk was http://getfinanciallynaked.com/ by Manisha Thakor and Sharon Kedar. The author’s provide useful practical tips in a friendly, easy-to-read manner that won’t put you to sleep. Here are a few things to consider:-Share your credit reports
-A list of red flags to watch out for in a partner
-How to create a budget for a combined household
-Who will be the CFO of your marriage? Or will you manage the finances as a team?
-Joint bank accounts or separate accounts?
We hope you find this post helpful and if you have any additional thoughts or insights, please let us know. We look forward to sharing other additional tips that my wife and I hold dear in our hearts.
Happy wedding planning and congratulations on getting engaged!