Financial Issues You Should Think About Before Getting Married

Johnnie Puerto Rico
Stubborn couple sit on couch back to back avoid talking after fight, offended man and woman separated on sofa ignoring one another, husband and wife not looking in eyes. Family conflict concept

Finding the one person you want to spend the rest of your life with is an incredible experience and something to be excited about. However, you need to leave room for some practicality among all that excitement. Before you get married, it’s important to talk with your future spouse about finances. 

Combining Finances 

After getting married, most people will combine their finances and this can look different for everyone. Some people combine all their finances (bank accounts, credit cards, loans, etc.), while some will only combine a portion. Your first conversation should be about how you will combine your finances with your future spouse. Next, you need to talk about the state of your finances. Make sure to be honest about your current finances as well as your financial goals. You need to be on the same page with everything. When you talk about combining your finances, you could also talk about making a budget together and creating some financial goals for both of you. 

Paying for the Wedding 

The next big item has to do with your big day. Weddings are expensive and someone needs to pay for them. As you begin planning your wedding, you need to be clear about who is paying for what. It’s ideal to create a wedding budget as a couple and do your best to stay within that budget. To make things easier, you can try to find ways to save money on your wedding. Winter weddings are often more affordable than weddings during the peak season. Bundling certain items can make it more manageable to include everything and stay on budget. 

Financial Attitudes 

Before you get married, you need to understand the financial attitudes of your partner and how they will work with your own attitudes. For example, you can ask how they grew up financially, how they feel about saving/spending, what their money values are, etc. You need to make sure your attitudes align enough for you to work well together financially. If one of you is a chronic spender and one of you is extremely frugal, this can cause conflict. As you discuss your attitudes, you should both consider what adjustments you could make so you are on the same page. 

Finances can be uncomfortable to discuss, but you and your partner are committing to spend the rest of your lives together. You need to be aware of each other’s finances. Having these conversations early on can make things go smoothly in the future. 

Here’s more to read: A Caribbean Honeymoon Vacation In Puerto Rico At The Horned Dorset Primavera

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