Future newlyweds have so much on their plate when they first decide to tie the knot. They have to plan the wedding and take care of a thousand and one responsibilities so that everything goes off without a hitch.
Financial planning as a new couple is a conversation that’s often pushed way in the background. But should it be? What happens if you aren’t financially compatible? Where do you go from there as a couple?
Instead of ignoring your new financial life, do yourselves a favor and tackle it head-on. This is something that you need to do as a newly married couple. Since money problems are the main reason that couples argue, it makes sense to get on the same financial page in the marriage as early as you can.
Having the Dreaded (or Not so Dreaded) Money Talk
In a perfect world, you’ll realize that it’s important to have the money talk as soon as your relationship begins to get serious. Many couples find themselves financially connected before they actually get married. The sooner you have the money talk, the better it is for the relationship, and the better chance you’ll have at thriving as a couple.
Everyone has their own views about money. Some of us live like money grows on trees and that it is available in unlimited abundance. And depending on your financial situation – it might be. Others feel that money is a finite and limited resource. They work hard to scrimp and save so that they can get ahead and live comfortably in retirement.
Both members of the couple need to come together financially. Having the same money views is not necessarily required. But if you are too far apart on this topic, it could make it difficult – if not impossible – to live and grow together as a married couple.
Creating Common Financial Goals
If a couple seems too far apart on money issues, it may seem like all hope is lost for the relationship. But this doesn’t need to be true as long as you’re willing to compromise.
Instead of throwing in the towel, create common financial goals as a couple. When you begin working together to achieve common financial ground, not only will your relationship grow stronger; you’ll also begin t0 live happier lives and feel good about money and how it now has a positive impact on your relationship.
Have Regular Money Meetings as a Couple
Unfortunately, all of your money inconsistencies will not disappear after one conversation. This topic needs to be discussed regularly so that you consistently stay on the same page.
Money problems are going to arise. As a couple, you must commit to regular communication so that you can hash out money matters together. By holding regular money meetings, you can plan for your future together, set a budget/review your current budget, come up with ideas for a fun filled vacation, discover creative fundraising ideas, and so much more.
If you want to start off your married life as a happy couple, getting on the same page in your financial life is an absolute must. Heed the warnings shared with you today and use this information to guide your financial future.