You just got married; the honeymoon’s over; a lot is changing quickly; and many things are competing for your attention, including your new spouse. While you hope romance will be foremost, Life will inevitably take on greater importance, with no greater reality than the major way money will impact your life. To help your prepare, let’s highlight some of the more important financial issues that you’ll likely face. As a reminder, we covered two aspects of Couples Finances in other
Getting married is one of the most exciting decisions you’ll probably ever make. For both bride and groom, planning a wedding can be an emotional roller coaster – on one hand, you’re filled with euphoria, and on the other, you feel stressed from the countless decisions to be made. In addition, as with most important life events, planning a wedding can be a source of financial stress because you have to balance your wedding dreams
In the previous article, Couples Finances: Long-term Relationships, we explained the importance of having a pre-marriage financial conversation in order for both persons to understand each other’s financial health, philosophies, and goals, as well to obtain agreement on certain key decisions. As a reminder, we view a long-term relationship as a commitment to share your life with someone, whether formally or informally. But to keep the description simple, we just refer to both these arrangements broadly as “marriage”.
Courting someone you are attracted to is one of the best experiences life has to offer. While you are getting to know your companion, romanticism is the priority, and the time is emotionally charged. One of the reasons why it’s so great is real life does not have to intervene for a while. But once you decide to commit to a long-term relationship, the practical aspects of life take on greater importance, money being one of biggies.