Getting married can be a whirlwind experience. Between all of the venue searching, trying on dresses, renting tuxes, assembling the bridal party, booking a DJ and cake tasting it can be easy to forget all that getting married means. Underneath the ring exchange and sharing of vows, there is a potentially life-long financial contract which you should be prepared for.
Before you marry the love of your life, you need to get financially engaged with one another. Right now the divorce rate is over forty percent in America with disagreements over money being the top reason for separation. You have already popped the big question, now it is time to ask a few more. Here is a list of things you should ask about before tying the knot.
1) What does the ideal marriage look like to you and how does it fit into your career goals?
2) What is our savings plan going to look like? Our budget?
3) Should we keep our finances separate, or join them together?
4) Who will be responsible for making sure which bills get paid?
5) What types of insurance will we need and how will we pay it?
6) Do you have any loans or debts that need to be paid off?
7) How big do you want our family to be? Should we start saving for college now?
8) What does your ideal retirement look like and how do we get there?
There are many keys to a successful marriage, but together you can make sure you leave out the poorer from “for richer or poorer.” Openly discussing your finances can keep you happy, healthy, and wealthy in your marriage.