Saving Money as a Newlywed Team
As a newly wed couple, you may not always agree on things; however, when it comes to financial survival, the both of you will need to put your heads together and make some decisions with regard to money management.
For this reason, it is always wise for a married couple to seek financial marriage advice. A financial planner can help with matters such as whether or not to get a prenuptial agreement, and what percentage of your income to put into a joint bank account, and some wise investments to start out with.
Other decisions are best made between the two of you. What are your spending habits? Who will balance the checkbook? Who will pay the bills? What investments do you wish to make? What are your financial goals and what is your plan to reach them?
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Another aspect of marriage that may require planning is your wedding budget. That would include everything from the price of engagement rings all the way to the actual wedding cost.
Planning your financial future together is crucial for a healthy marriage. If the both of you choose to undergo premarital counseling, take a few sessions to communicate about your financial issues. Get started early, and continue with couple counseling after tying the knot, as well.