Getting married is really wonderful and it is the start of a period of hope for the future. It may not seem extremely romantic to discuss money at this stage but you have to in order to get the best start to your marriage. Discuss these issues before you walk down the aisle.
What are your Individual Spending Styles?
You may find that you and your partner have very different attitudes when it comes to spending money. This may become a huge bone of contention in your marriage if your spending styles are extremely different. It can also be disastrous if you have two partners that are both irresponsible spenders.
Before the wedding, you must each list your monthly expenses and income. Make notes about what you spend your money on. This gives an idea of what your spending habits are. You should each get onto the same page when it comes to spending money and this will probably involve compromises by both partners. If one partner wants to forgo annual holidays in order to save but the other feels that they are vital, you can come to a compromise by taking shorter mini-breaks or less expensive holidays.
What are your Goals?
What is it that each of you want in the immediate and long-term future? Do you have the same goals when it comes to finances? Where can you come to compromises and which issues are you not willing to compromise on? You need to now, as a couple, set goals that you can work towards together and that are of mutual benefit. For example, pay off your mortgage in ten years. Both partners must be able to see the benefits of the shared goals and commit to making them a reality. Set in place steps that will get you closer to achieving your goals.
You also need to decide on how you will finance things in future and what financial vehicles you will use. If you hash out these issues before you get married, you are giving your marriage a boost in the right direction. Financial issues are one of the biggest stressors in a marriage and can, if not dealt with properly, cause the marriage to break down. Be proactive and give your marriage a solid base.