Provided by Lingxiao Li
Congratulations, IF you've found Mr. or Ms. Right, fell in love and now the Big Day is right around the corner. If you're planning to say "I do" during this traditional wedding month, save yourself some arguments later by talking about your money now.
More important than the cake, flowers or even the invitations is preparing for your financial future together. Make a date to sit down, discuss your goals and expectations and come up with a plan for an effective merger of your financial lives. It may not sound romantic, but considering that quarreling over money is one of the biggest causes of marital discord, a money talk may be just what Cupid ordered.
1. Where would you like to be in five or ten years?
2. What are our assets and liabilities?
3. Should we keep our finances separate or combine them?
4. What about our investments?
5. How will we handle daily spending decisions?
6. Who will be responsible for paying the bills and preparing the taxes?
7. What is your tolerance for financial risk?
8. What are our insurance options?
9. How does your credit report look?
10. How will we tackle existing debt?
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It is good to sit down and evaluate how couples will split their finances before they get married. Money can be a big problem if it is not discussed with your partner.
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A 50% divorce rate shows that the majority of couples do not sit down and talk about these things that eventually come up. It would be much better if people knew what they were getting in to. -Zachary Pienkowski
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