How To Invest and Save Money
|Britt Erica Tunick is an award winning financial journalist who has spent the past 17 years writing about virtually every aspect of finance. She has mastered the art of boiling down complicated financial topics for readers to understand.|
Starting a life together as a couple requires a discussion about finances and how you will handle joint expenses, even if the conversation can be difficult at times.
How to Manage Money as a Couple
By Britt Erica Tunick
Wedding season is in full force, and even more so than usual, following a year of social distancing that forced many couples to delay wedding ceremonies. If a wedding is in your near future, you probably have your big day planned by now, but have you taken the time to plan out how you and your soon-to-be spouse will approach collectively managing your finances? Like it or not, divorce is a reality that many married couples eventually face and arguments over money are the second leading cause for failed marriages. To avoid marital money issues, now is the time to sit down and determine how you and your future spouse will approach money management as a couple.
Getting married and living together means collective expenses, from rent or mortgage payments, to utilities, grocery bills, insurance payments, credit card debt and many other unforeseen expenses. Add children into the equation and money management becomes even more complicated. While it may be uncomfortable to discuss finances with your fiancé, doing so is a necessity for a healthy relationship. Following are just a few things to consider when it comes to discussing and mapping out how you will handle your finances as a couple once you are married: