Financial Blog Corliss Group: 3 Financial Tips for Engaged Couples
FINANCIAL BLOG CORLISS GROUP
3 Financial Tips for Engaged Couples
Planning a wedding comes with excitement -- not to mention arguments and compromise. Many couples spend a lot of time securing the right caterer, venue, and honeymoon location. But merging two people's finances is no small feat, either, and it's even more important to plan how they will handle money together after the honeymoon is over.
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By implementing these three financial tips, you'll keep the marital arguments to a minimum and the newlywed bliss alive and well.
1. Honestly discuss your financial pasts
The goal of this discussion is to truthfully disclose everything. Tell your significant other about your income, assets, and all of your debts. This is the time to air your financial secrets; it shouldn't be a lecture about whose money management methods are better.
Use these conversations to listen without judgment and learn more about your spouse-to-be. No decisions have to be made about how to handle any of these issues. First, it's most important to disclose your past, understand your partner's, and open up the lines of communication.
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2. Talk about what type of person you are when it comes to money
It's likely that one person is a spender, the other a saver. These "permitter" and
"restrictor" archetypes will appear hundreds, maybe thousands, of times over the course of your marriage. But for a much more harmonious union, both partners will have to compromise when it comes to money matters. Through that compromise you'll be able to develop a game plan for how much to save, how much to spend, and how much to contribute toward goals like traveling, buying a home, and securing your retirements.
3. Craft your road map
Talk about your financial goals. Discuss how you'll construct, manage, and monitor your household budget. Determine whether you want to commingle your assets and incomes or keep them
3 Financial Tips for Engaged Couples
Planning a wedding comes with excitement -- not to mention arguments and compromise. Many couples spend a lot of time securing the right caterer, venue, and honeymoon location. But merging two people's finances is no small feat, either, and it's even more important to plan how they will handle money together after the honeymoon is over.
Visit Corliss Group
By implementing these three financial tips, you'll keep the marital arguments to a minimum and the newlywed bliss alive and well.
1. Honestly discuss your financial pasts
The goal of this discussion is to truthfully disclose everything. Tell your significant other about your income, assets, and all of your debts. This is the time to air your financial secrets; it shouldn't be a lecture about whose money management methods are better.
Use these conversations to listen without judgment and learn more about your spouse-to-be. No decisions have to be made about how to handle any of these issues. First, it's most important to disclose your past, understand your partner's, and open up the lines of communication.
Read more articles from Corliss Group Blog
2. Talk about what type of person you are when it comes to money
It's likely that one person is a spender, the other a saver. These "permitter" and
"restrictor" archetypes will appear hundreds, maybe thousands, of times over the course of your marriage. But for a much more harmonious union, both partners will have to compromise when it comes to money matters. Through that compromise you'll be able to develop a game plan for how much to save, how much to spend, and how much to contribute toward goals like traveling, buying a home, and securing your retirements.
3. Craft your road map
Talk about your financial goals. Discuss how you'll construct, manage, and monitor your household budget. Determine whether you want to commingle your assets and incomes or keep them