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    Now that you have met the love of your life, you are probably thinking about settling down and entertaining the idea of getting married to start a family. This is something that many people find fascinating to do in their 30s or as long as they feel confident about the person they are with. There is the promise of having a beautiful life together, with a nice house, a few children, and a harmonious relationship with their partner. Naturally, you want all of these to happen with your partner, so it is best that you know him or her inside and out. Otherwise, you two may end up regretting your decision of getting married if certain issues remain a mystery to you both.

    But the thing is, you also have to be practical when it comes to marriage. You may be financially stable, but are you certain that your partner will not leave you concerned about your finances? How sure are you about your partner’s financial situation? The last thing you want to happen is to discover that your sweetheart is buried in debts, and you run the risk of having to shoulder the expenses at home because of the payments your partner is making each month. Moreover, you may be good with saving money, but having a partner who barely thinks about putting in some cash in the bank can be a huge deal breaker in any relationship.

    So, before you consider tying the knot, here are a few important money questions you should ask your significant other just to get everything straight. Then, you can start thinking about living a life together once you believe that you are on the same page when it comes to your spending and money-saving habits or you may also read on how you can get instant personal loans to help you get over this period.

    1. What are your spending habits?

    This is a very important thing you need to know about your partner since you are completely aware of where your money goes to, but do you know your future spouse’s way of spending his or her money? The thing is, you can either be a spender or a saver, and being with someone who does not share your philosophy about money can be very difficult. You may end up getting into plenty of discussions about money, which can impact the flow of your relationship.

    With this in mind, sit down with your partner and talk about your spending habits. During the discussion, make it a point to maintain an open mind and a deep understanding of where each person is coming from. Afterwards, focus on the goal and issue at hand instead of blaming one another. Come up with a plan to manage and grow your wealth together as you work towards living a life together as husband and wife. By doing so, you can prevent money problems in the future and live harmoniously with each other.

    2. Do you think you are overspending for the wedding?

    Sure, a wedding is something that people have been dreaming of since they were young. They have ideas about their way of celebrating this big moment in their life, which is just normal with every couple. But then, is it really necessary to spend thousands of dollars for this one-day event?

    If you and your partner are hoping to save more money, then it is best to choose an off-peak month for your wedding day. In Singapore, the best months to get married without having to worry about paying more include November, March, and April. On the other hand, getting married in February or December can cost you more as these are the popular times of the year that couples choose for their wedding. Aside from the cost of the wedding party and the ceremony itself, spending your honeymoon during off-peak months can be a huge money-save for you and your future spouse. Hotels and flights are cheaper, yet you can still have a great time in your preferred location.

    3. Should you proceed with a prenuptial agreement?

    This is really a delicate topic to talk about with your future spouse, but it is best to be practical when it comes to your finances. Normally, this issue tends to imply a lack of trust or anxiety towards your spouse, as well as a plan for divorce in the future. Also, the marriage may end up appearing more of a business matter than a personal thing if you begin discussing about property and monetary division in case a divorce occurs. So, you need to think about the perfect timing to talk about this matter and handle the conversation with honesty, transparency, and love.

    4. Are you currently paying off debts?

    A big issue that couples encounter in their relationship is dishonesty. This is why right from the start, you have to be transparent with your partner. Discuss all your financial obligations whether you are currently in debt or there are debt payments you are making. If you do have such financial concern, you should also be vocal about when the payments will be over. By doing so, your partner is aware of the where your money is going and the reason why you are saving less than you should.

    If possible, it is good to talk about the present credit history of your partner. After all, this can impact your own credit score once you have a combined bank account. Thus, you need to know the remaining debt and other financial concerns that revolve around this topic before you say “I do”.

    5. Should you have a joint bank account?

    A joint bank account has benefits and drawbacks, and your financial institution can tell you more about it. But at the same time, are you prepared to do this with your significant other? For instance, you may be thinking that this type of account may come in handy for your emergency fund or when it comes to paying your household or utility bills. Then again, how does your partner feel about this?

    Sit down with your future spouse and go about this topic with an open and logical mind. If you prefer to have a separate account, there should not be anything wrong with this. The most important thing is you come with an agreement once you have decided on having a joint or separate bank account. This way, there are no ill feelings or suspicions towards each other in the long run.

    6. How do we divide our financial obligations?

    In this modern era, it is no longer the husband’s sole responsibility to pay all the bills. This is particularly true if you are both working, which means the expenses must be divided between the two of you. Otherwise, you may get into an argument if you feel that you or your spouse are shouldering much of the expenses, which may not be the initial agreement.

    Culture has a strong impact on the way expenses are shared by spouses. If you and your partner are from different racial backgrounds, then it is very important to talk about who will pay which bill. But for example, there are credit card rewards or rebates that you two are aiming for, then it may be good to use your or your spouse’s credit card for these perks. But make it a point to discuss how you will make payments once the credit card bill arrives.

    Most Importantly…

    The key to a harmonious relationship lies mainly on transparency and honesty of both partners. You should handle all essential topics before tying the knot, specifically money issues. What if one day when trouble arises, the both of you do not have enough capacity to tide over, then what are you supposed to do? Despite having so many ways to save up money, you can if nothing works, you can always consider money lenders online to get you through this tough temporary moments.

    At the end of the day, should couples fight and have unresolved conflicts because of money, you should set some time to discuss this huge aspect of your life. This way, you can have a better plan for your future and grow your wealth together for a more comfortable life that you both would wish to have. Share to: