A Personal Finance Checklist for Newly Weds

Finance Checklist

Getting married is one of the most important events in your life. There is so much to consider—the flowers, the jewel, the dress, the venue, the photography—the list goes on. Once you are back from the honeymoon, the daily life of marriage begins and also begins the challenges of managing the finances of a new household with your spouse.

In recent studies, many couples ranked financial matters as one of the most essential factors when it comes to happiness in a marriage. It is one of the key factors causing marital stress.

Money Compatibility

First thing to do is to check how compatible you and your spouse in money management. You may be conservative and your spouse may be aggressive. You may think that the best place to invest is stock market and your spouse may think bank FDs.

You should communicate your money management style to your spouse as well as you need to understand the money management style of your spouse. Both of you need to analyse the merits and demerits of money management style of each other and their own. Then you need to create a mutually agreed combined money management style.

This will be vital to you both throughout your married life to help minimize stress from disagreements about money.

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