fbpx
8
Nov
2020
1
Money before marriage is the most important conversations you will have

Money Before Marriage-Until Credit Do Us Part, Part 2

Money before Marriage

 Money before marriage is an essential conversation everyone should have prior to marriage when you consider the divorce statistics associated with money before marriage

Financial surprises after marriage run the gamut from, “I assumed he owned his home”,  and, “I did not know he was deep in debt to his x-wife”. These are just two of hundreds of surprises newly married couples encounter.

The problems go both ways, there are men who are surprised that their new wife got married only to quit her well-paying job shortly after marrying. And there are women who are surprised to learn their new husband has been laid off his job and didn’t tell her.

Learn the 3 Wealth Building Tips They Don’t Want You to Know.

These are very serious issues, and they signal the fact that too many couples are taking money for granted before they marry.  Before getting married, couples should have more in common, than not.

Besides respect and understanding for each other, having good financial habits in common are important.  If not, after the honeymoon period is over, fights may ensue over the smallest money issues.

Marriage partners bring their bad money problems or good money habits to the marriage, so understanding what your partner’s money habits are before you marry is crucial.

Money quotes, Skills should not be predatory

Psychologists say the glue that holds marriages together is the number of things you have in common. The more you have in common the more likely you will stay in a happy long-term marriage. At the top of that list, is finances.

The more you have in common with great finances, the better your marriage will fare, financially. I have listed some of the financial habits you should have in common, that will foster a healthy marriage relationship, below.

The Financial Aspects You Should Have in Common Before Marriage,

Both of You Should:

  • Believe in living within a budget
  • Live within your means
  • Purchase products you can afford
  • Have supplemental savings accounts before you marry
  • Have good credit reports before you marry
  • Invest in a pension or other retirement account at work or personally
  • Be interested in buying an affordable home after marrying
  • Identify and alleviate poor money habits before you marry

Most couples are still in the admiration phase of their relationship before they marry, so they assume that all is to be admired on the financial front also.

But, unfortunately, just as the experts will tell you, people don’t change for marriage. It may take some time to understand that your spouse has poor money management skills, and in most cases, those habits were there before marriage.

The Three Wealth-Building Tips That Can Bring You The Joy of Wealth

Home buying the right way take skill

How Do You Determine if Money Before Marriage is a Problem?

There are many ways to spot financially dysfunctional behavior in a potential spouse. You have to be willing to understand what a wasteful person does and be willing to look honestly at money with your fiance.

Some people don’t understand what financial problems look like and some are hidden. Your best bet is to look for signs of financial mismanagement. Here are many to consider:

1. Does he or she live in an apartment with no furniture? – sounds funny, but this could mean your partner is super frugal-paying off bills, unreasonably cheap, or can’t afford furniture because of financial mismanagement.

Even if it is second-hand furniture. The functional sign would be that he/or she is super frugal and waiting to buy furniture after some crucial bills are paid off.

Take the FREE Wealth-Building Workshop Now!

2. If he/or she makes a modest income, but owns an expensive car. The problem with an expensive car is that not only is the monthly payment painful, but the upkeep could consume most of a monthly paycheck. This is a very bad sign of financial dysfunction.

3. If he/or she lives in and owns a home that is too expensive for their income and assets.

4. That he/or she takes expensive vacations and their salary is modest.

5. That he/or she carries a large number of credit cards and pulls out a different one each time you go out.

6. The absolute must is to share your bill/credit history with each other. Excessive bills for his/or her income is a huge sign.

7. Your partner should be willing to pay down excessive bills before marriage.

8. If your partner can’t make a pack with you to keep debt low during your marriage, you may need to reconsider your choice and alleviate a lifetime of financial pain.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Get this Amazing Course When You Join, MsFinancialSavvy.com!
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

How Money Before Marriage, Until Credit Do Us Part

You may also like

powerful positive money affirmations
Powerful Positive Money Affirmations
How to Make Your Personal Finances Personal
Personal Finances Should be Personal
3 Common Types of Mutual Funds
3 Common Types of Mutual Funds
Until Credit Do Us Part, Money and Marriage Finances

8 Responses

  1. Cherish Angel

    These are great signs to look out for. I am married myself and I always wanted to make sure we were on the same page in regards to our finances. Money is so important and I feel like it can either make or break you.

  2. hari

    money habits before marage is a serious topic that most individuals should know/learn about.
    but unfortunately, that isn’t the case.
    so happy that you’ve written a fabulous post about this topic.
    thanks for sharing.

  3. Natascha

    great article, I totally agree. I’m currently about to move in with my boyfriend and it’s interesting to see how he can spend A LOT of money on a big TV, while on other things like a decent carpet he doesn’t want to spend that money hahah,
    It’s important to be on the same page, and to find a good balance in what you and your partner find important to spend money on.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.