4 Monetary Conversations You Should Have With Your Partner Before Marriage
Once the initial honeymoon phase dies, much of how your married life proceeds is based on the financial condition of the family. How you use and save money has a lot to say about how happy you two as a couple are. Most often, two people have different ideologies about money and ways to spend it. In fact, perfect-looking marriages have shattered ‘coz while one partner believes in savings, the other is interested in an extravagant lifestyle.
Keeping all of this in mind, we list 4 monetary conversations that you must have with your partner before you tie the knot. The ones stepping into an arranged marriage, this one is especially for you folks!
The first thing in this list is wedding and honeymoon expenditure. Yes, extravagant, larger-than-life weddings are the norm these days, but there are people who still believe in simple, intimate affairs. Get talking about the kind of wedding that you had imagined and the amount of money that you're willing to spend on it. Also, add in the expected honeymoon costs.
Love and romance is okay but very soon you'll have to start thinking about expenses like house, car, and a baby. Shifting to a double-income family also brings along a number of new responsibilities. How do you plan to save for your kid's future? At what point in life do you need to buy a house of your own? All these important questions need to be asked.
Your partner's money habits may be different from yours and that's okay since marriage is all about two individuals striking a balance. How much do you rely on your credit card? How much do you save each month? Are you comfortable with taking a loan in future? Ask them all these things ‘coz you don't want to be stuck in a life-long bond where your financial sensibilities don't match.
Things On Your Bucket List
Marriage is no longer a full stop on your bucket list. Whether it's becoming an entrepreneur, or going on a world trip, or completing your long-due MBA, you need your partner's support for such heavy expenses. In fact, even if you plan on bearing the cost of your grandfather's medical treatment, speak openly to your to-be life partner about it.
Also Read: Yes, Your Sex Life Changes After Marriage!
Marriage is irrevocable, so ensure that even economical matters are transparent.