3 Financial Decisions You And Your Partner Must Make Before Tying The Knot

1. Cancel out all outstanding debts:

If you enter a marriage union with a large amount of debt hanging around your neck, you and
your family may have serious financial difficulties after your wedding.

This will be setting limits on your spending power as a couple.

This may not seem like enough of a push, but you should remember that marriage is a different ball game than that of the single world.

Because of that, you must take care of at least one other person.

How do you intend to satisfy the needs of your family and settle your outstanding debts?

Is there additions to the income you earn monthly?

Certainly, it would not be easy for anyone to achieve overnight, but it is worthwhile to have an honest & open conversation about it with your partner.

Then, before you get married, try to do all you can to take care of all your debts.

So that when you get married, your total income will go to the needs of your family and you could have a better future. Build yourself and the ones that you love.

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2. Rethink your wedding costs:

I know you want to take it to sex and the city levels, with all the magazines that are very popular creating vivid extravagant wedding scenes.

But you must remember that there is more to marrying than a day of celebration and extravagance.

The wedding will come and go, but your marriage will last more than a day.

How to carry out your wedding plans can have a devastating effect on your marriage.

The other option is to save over a longer period of time so that you can feel more comfortable about achieving the dream wedding.

Let the costs of your big day be very special for you without having to ask for a loan later.

Even if you have too much money, stick to your vision but don’t spend money only to impress other people.

Instead, make plans and estimates for the future.

None of the people you want to convince will be there to offer financial support when challenges arise.

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3. Discuss your financial goals:

Most marriage councellors are concerned that couples do not sit down and make appropriate financial projections for themselves.

Before getting married, you and your partner should sit together, and with a pen and a notebook, make a list of financial goals for your marriage.

Do this now:

• Where do you see yourself in the coming years?
• What do you hope to achieve?
• What careers will you be happily striving for?
• How will you support each other’s goals?
• What are you planning to create together and how much will it cost?

Write them down and adapt your budget to follow these objectives.

If you are an abundant thinker, you can use this as a visualisation together.

It doesn’t have to be painful, you can use it to help create the life that you both desire together.

As a knock-on effect, you know how to spend your income each month and what you will save for your goals.

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Finally, in the absence of a specific plan like this, you will not be able to manage your income and your needs without problems arising in the form of disagreements.

Address the topic of money calmly and respectfully early on.

Faithful in your success!