Wedding is a big event in your life and to have a perfect wedding you need to plan a lot of things. Other than selecting your wedding gown, venue and cake you must sit with your fiancée to plan your financial life. Money and love are the two ingredients of a happy married life. Hence, if you’re getting married within few months, then you must take some premarital financial moves as per your requirement.
• Have regular discussions about money:
Regularly talk to your fiancée about the financial issues. Ask him that how he will want to spend money after receiving a financial windfall. Try to know if he follows a budget and know how he handles his personal finance. If he had taken out loans, make sure that he has a proper plan to repay it. Know about his financial dreams so that both you can work to achieve your dreams.
• Know the secret of financial happiness:
Since both of you have different perspectives of life, both of your approach to financial life will be different. Discuss together and develop a strategy to have a happy financial life. Save money for your vacations and develop a habit of talking about financial matters in every 3 months. This will help you find out where you went wrong and what you can do to rectify it.
• Discuss about your past financial matters:
When you’re going to spend the rest of your life with your fiancée, you must know about his romantic and financial past. Find out if your fiancée has racked up a huge amount of debt. If he is knee deep in debt, then talk with him and find out a way to get out of debt. If required check his credit score and help him to boost it. Show your credit reports to him and see what he says to make it better. Don’t have financial secrets between yourselves otherwise you’ll ruin your relationship.
Don’t merge your personal loans with your fiancée. It is a sure shot recipe of a disaster. If your fiancée has credit card debt on his shoulder, then don’t move ahead and share it. Likewise, don’t transfer your credit card online loans to your fiancée’s credit card. Try to keep both of your personal loans separate.