The Business of Marriage
Money and marriage go hand in hand; so much so, the vows should end with, “till death or finances do us part.”
The truth is many marriages end in divorce. I won’t quote the over-used statistic that states 50 percent of all marriages end in divorce. As that may or may not be true, it is a fact that far too many marriages end in divorce and a large number of those unravel due to money.
Knowing that odds are stacked against you before you get married or even while your marriage is still intact, what conversations should you have? Here are few topics to start with and why:
Money management: Will you have joint checking accounts, separate or both? It is important to know where your money is going to be saved and who will be in control of bill paying. The person with the best money management skills should be in charge of paying the bills. Just because you make the most money doesn’t make you the best at handling it. Pick the right person for the job!
Family size: How many children do we want, can we afford them? What kind of education do we want for our children, how much will it cost and how will we save for it?
Career/location: Obviously, this is extremely important What do you want to do for a living and where do you want to live (neighborhood/state/region, etc.)? All couples should discuss these topics at length, and agree before they start their families and incur debt together. Disagreeing on this subject down the road is a quick way to put a major strain on any relationship.
It’s never too late to have a financial tune-up in your relationship. It is OK to change your course if you find that you’re traveling in the wrong direction. I know this may sound sterile and a bit impersonal, but this simple conversation could set you on the way to a successful marriage and turn your dream union into a reality.
Alicia Taylor, Sr. Manager Mortgage Solutions LLC
6655 W. Sahara Ave A-212 • Las Vegas, NV 89146
702-241-0206 Direct • 702-368-0059 Office • 702-385-0089 fax