Getting married is a very important event in everyone's life. Well, maybe not everyone; but almost everyone has had a dream of life beyond singleness.
For many of these people, men especially, it becomes quite complicated when they sit to think about their finances and how their relationship would be affected, after finally walking down the isle with the love of their lives.
If you have found yourself in this kind of troubling psychological situation, fret not; there's a whole world of other people out there that you currently have an edge over, just by reading this article.
Have this in mind, not planning for how money is going to be spent or saved will leave you bankrupt and poor.
How to avoid money issues with your partner before marriage is very essential, if you're not thinking about this then you're not ready for marriage.
I personally know how it worked for my parents. These simple plan of money management has helped thousand of couples to avoid financial warfare.
These are the three ways to follow on dealing with your financial issues with your partner before marriage
1. Our money "building unity":-
The first foundation stone in developing a financial plan is to agree that after marriage it will no longer be "my money" or "your money"; it will be "our money". At the heart of marriage, is a desire for unity.
The implication is that we will share our income and work as a team in deciding what to do with our money. This also means his or her debt will be "our debt" and we have responsibility to develop a plan to repay the debt.
This also means "your savings" is "our savings". If you are not ready for this kind of unity, then you are not ready for marriage.
2. Saving, Sharing, Spending:-
The 2nd step in developing a financial plan is to agree on a percentage of income that you will save, give away and spend.
The first purpose of saving is to have emergency funds. The 2nd purpose is to pay off a debt any of you may have.
The most common mistake young couples make is purchasing a house beyond their income. The process of negotiation and agreement will save you from struggling with this issue after marriage.
Another practical idea that can help is having an agreement that neither of you will make a purchase without consulting the other.
3. Who keeps the books:-
The final suggestion is to decide before marriage who will "keep the books" is the one who pays the monthly bills and keeps tabs on the account online.
This is the person who seeks to keep the two of you on track with the spending plan upon which you have agreed; such decisions are to be made as a team.
Remember you are team members, and both team members must be fully aware of their financial details.
It is my desire that the ideas I have shared on this platform will help the two of you.
Discuss and find agreement on the financial plan you will follow once you're married.