Exploring Finances BEFORE Saying I Do

Personal Finance Tips For You.com

You really want to know something about your fiancés finances before you say I do. You just don’t know how your future spouse has paid their bills and you really want to know about this prior to getting married. You are hoping to avoid a possible problem with this issue later on in your marriage. Just getting you and your fiancés finances out front so to speak is where you’re hoping to be as part of your relationship.

Finance questions before marriage may help you and your future spouse understand where you both stand financially in the relationship. If your future spouse is not able to contribute financially or does not have stellar credit, you will know this before you say your vows. You may want to consider some of the following questions to ask your future spouse prior to getting married:

How much money do you earn?

Can I see a copy of your credit report and credit score?

Have you ever filed for bankruptcy and are there any judgments against you?

Do you pay child support? (If so how much and how often?)

Do you have a checking and savings account? (How much is in each?)

If we purchase a home will we own the home jointly? (Do you have utilies in your name currently? If so, are they current? Have you ever been evicted?)


How To Dicuss Finances During Your Engagement by eHow.com

  • Step 1 You should talk about what your financial goals are for the marriage. Do you plan to buy a home or rent temporarily? Who will be responsible for paying the bills? This is important if you want to start your marriage financially on the right foot

  • Step 2 What are your beliefs regarding finances? Find out if your partner believes in budgeting and saving. If you’re the spender, maybe your future spouse has concerns about your habit. You want to clear up any conflicts about how you handle money and be ready to compromise at times.

  • Step 3 Look over each other’s debts and credit reports prior to the wedding. What outstanding debts do you have that might hinder the financial stability of your marriage. It’s not fair for your future spouse to be expected to pay a majority of your past debts. It’s also dishonest not to disclose of your past debts if you value trust in the relationship. You should also use this time to try to pay down some of the debts.

  • Step 4 Discuss how you will save up for retirement and for your future children’s education. Are you going to use your employer’s retirement plan or are you going to open a Roth IRA account? Roth IRAs are good because your contributions and earnings are tax-free.

  • Step 5 Finally, how do you plan to prepare for life’s emergencies? You should discuss an emergency savings account and resolve not go into it unless it’s necessary.

    Read more: How to Discuss Finances During Your Engagement | eHow.com http://www.ehow.com/how_5520086_discuss-finances-during-engagement.html#ixzz0swzHkwJz

  • Advertisements

    Leave a Reply

    Fill in your details below or click an icon to log in:

    WordPress.com Logo

    You are commenting using your WordPress.com account. Log Out /  Change )

    Google+ photo

    You are commenting using your Google+ account. Log Out /  Change )

    Twitter picture

    You are commenting using your Twitter account. Log Out /  Change )

    Facebook photo

    You are commenting using your Facebook account. Log Out /  Change )


    Connecting to %s

    %d bloggers like this: