Proverbs 18:22 – “Whoso findeth a wife findeth a good thing, and obtaineth favour of the LORD Yahweh”
Relationship Goals: Are You Financially Fit
Relationship goals are very important. One of you have to be financially fit.
While this is an exciting time, it’s also the perfect time to get to know your partner financial situation.
Majority of couples share at least one bank account.
It’s important to discuss how the managing of your money will work. Some couples prefer to maintain independence through separate accounts.
You will need to find the option that both of you are most comfortable with.
Be up front and honest about any debt you’re carrying. Do the right thing and tell your partner if you have debt.
It’s important to know if the both of you have good credit. Could you get approved for a home loan?
Credit reports and scores are for individuals. Your scores will not change after marriage.
If one of you have bad credit, it could make a difference on future purchases.
Being dishonest about your credit could cause big problems in a relationship.
The bread winner
If your spouse makes more money than you, who picks up the bills. These are questions you have to ask each other and figure out.
A large income gap can cause significant relationship struggles.
The higher earner is less likely to want to do chores around the house. Feels resentful of the financial burden placed on them.
Starts making money decisions without consulting their spouse. Assumed to be responsible for all bills, yikes!
No one should feel unappreciated. Having a heavy financial burden causes stress.
Everyone needs to contribute in a relationship.
Who handles what
Which person will pay the monthly bills? Figure out your monthly bills and go from there.
Discuss how much you both want to keep in your savings.
Do you plan to start your marriage debt free?
Regardless of the issue, differences must be realized and discussed up front.
Finances are usually something you share in a marriage. Communicating with your spouse is always a good idea.
Try to approach the conversation without pointing fingers.
Work to create a plan that sets you and your partner up to save, budget, chip away at any debt, and set up long-term financial goals.
If your spouse refuse to change irresponsible habits, protect yourself financially. Finances and money can be an uncomfortable conversation to have.
Conclusion
Being open and honest about your finances can be the best first step to effectively communicate with your partner and possibly get through to them.
Communication issues over money is a leading cause for divorce. Warning signs are right in front of our face sometimes but we ignore them.
Typically, one of you is the saver and one the spender. I know this is true in my marriage, I’m the saver.
You’ll have to do your part in getting them on board. Keep loving them.
DISCLAIMER: I am not a financial adviser. This site is for educational purposes only. It is imperative that you do your own research. I am sharing my opinion from personal research and experience with no guarantee of gains or losses on investments, finance etc.
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