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Speak About it is the Best way to Manage your Finances


Budget management by the newlyweds can bring them together as it can be a factor of stress and even conflict. Here are some tips for making communication on financial matters as pleasant and frank as possible.


Some couples evade pecuniary questions before marriage, as these subjects seem to them to be un-romantic. It is, in fact, an error to avoid. Financial problems can cause stress and misunderstanding in a couple's new life. Moreover, it is often said that financial problems  kill love. The bride and groom should begin by asking themselves some simple questions that will help them to easily trigger the conversation on such a tricky subject.


1. How to manage the budget after marriage?

Do not wait until after the wedding to hear you on how to manage your budget. Do you share the costs? Do you plan to deposit your money and savings in a single bank account or open separate accounts with, in addition, a joint account for common expenses, savings and future investments...? The best time to talk about it is before your wedding and not when it comes to start paying bills.


2. Do you have any debts to pay?

As nowadays, almost everything can be bought on credit, it is very possible that one of you has some drafts to pay. Talk about it, without any hesitation, to your futur spouse because in case of a problem, you will be two to solve it. Moreover, to hide a similar fact would be of bad taste and denotes a lack of confidence which could even shake the ties of your couple.


3. How did your parents manage their budget?

We all tend to follow the example of our parents, for better or for worse... same behavior regarding financial matters. Your attitude towards money and how to manage it most likely reflect what you have seen in your parents house. However, the parenting model in financial management may not be ideal, appropriate, or you may simply be outdated. Did your respective parents talk to you about financial matters? Were they arguing for money? Was the subject of any dispute? And above all, what was your feeling about this? Speak frankly with your future spouse. Speak about it is the best way to manage your finances.


4. Do you have a retirement savings policy?

The time to start planning your retirement is the day you get your first job. Generally, nobody thinks of it at first. But it is never too late to do it. Adopt this policy in your life as a couple. Try to systematically save 5 to 10% of your salary or income. Put them aside in a separate account or integrate retirement savings programs of some banks.


5. Have you planned a meeting to discuss specially financial issues?

Determine an exact and precise appointment where you will discuss this subject exclusively. A kind of a business meeting, during which you will clarify the finances of your futur home down to the smallest details. Do not leave anything behind, which could subsequently lead to unfortunate misunderstandings. There could be several meetings, each raising one aspect of the issue. For this, it is preferable to draw up a detailed list of the points to be discussed and the suggested solutions.


This will serve as a guide and as a reminder in your couple's life… back from the honeymoon.