Before you tie the knot, it pays to know a few things. Everybody has a different way of managing their finances, and if you and your partner aren’t on the same page, you might find yourself struggling to navigate financial issues when they arise. In fact, an article in the Wall Street Journal notes, “One in five couples identifies money as their greatest relationship challenge.” It’s best to get ahead of this issue before it even becomes one. So, how can couples set expectations for their financial future? Here are a few tips.
By discussing these questions, you and your partner can more easily discuss whether you want separate accounts, a joint account, or both! Explaining your values and setting expectations for your financial future allows you and your partner to see things from the other’s perspective and better understand where their views come from. Remember, while money can be a divisive topic, you’re in this together. Marriage is all about building each other up and strengthening one another, so don’t get discouraged. Discuss and be open to compromise, and you’ll set your financial future up for success!
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