Tying The Knot: Time For a Good Talk About Money

adult-2242162_640There are few moments in life as thrilling as getting engaged. Partnering up for the rest of one’s life can be a wonderful thing. There are a few important topics that should be talked about prior to the nuptials, however. Early engagement is a sweet time, and it’s also the right time to discuss money matters. In the interest of happy couples everywhere, we are pleased to present a few simple tricks that may make “the money talk” easier.

Money styles

What does money mean to you? What does it mean to your future spouse and life partner? Now is the time for you and your beloved to clarify your feelings about finances. Have a nice sit-down meal and go over your saving, spending and investment strategies. If you tend to overspend and your mate prefers to save for a proverbial rainy day, now is the time to work things out, not after the wedding.

Discuss how you perceive the future, especially as it pertains to children you may have someday. Do you envision sending your kid to a pricey private school, or are you of the mindset that everyone, including your kids, should work their way through college? Austerity and a spendthrift attitude may not be the best match. That’s why it’s crucial that both partners are clear about the other’s financial intentions. If you get married in a community property state, everything you earn and the debts that you accumulate will be shared equally, as per Bankrate magazine.

He said, she said

While we’re at it, we might as well tell you right now. Men and women see money differently. The more you discuss –and work out– these differences before the wedding, the less likely you and your new spouse will argue about finances in the future. Learn to discuss the pros and cons of big money decisions, and the better you’ll be able to make smart choices as a couple. Speak casually and calmly, and don’t try to convince the other. Neither should you attempt to work out all your money matters at once. A small talk several times a week may be far less stressful than a single long and drawn out conversation, according to Money Under 30 magazine. Discuss values as opposed to prices and don’t let money wreck your brand new marriage.

Other financial concepts to discuss

Talk about more than spending money. A dialogue about earning and saving is important, as well. The way you talk about your business, your investments and your jobs informs the way you will manage money with your partner for the rest of your life together. The “money talk” can leave one partner feeling vulnerable, especially if they earn less than the other. Be kind and take it easy when you talk about things related to money. If one partner is deeply in debt, a visit to http://debtsettlement.co/ may open a discussion about getting out of debt before the wedding.

Above all else, remember why the two of you wish to marry one another. Love is the biggest factor to consider. Money is important, but it should always come second to romance.

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