Love is as wonderful as it is complicated. When you are genuinely taken with your partner, it is easy to overlook some possible issues that could harm your relationship. This is especially true when it comes to money. Not only is money a taboo topic for many. It can also be emotionally difficult to discuss. However, it is critical to have certain important conversations before you get married. With that in mind, here is a look at what I learned about love and money before we got married.
Few topics are as tricky to navigate as spending habits. First, some people are embarrassed about what they spend money on. This makes them reluctant to engage in the discussion. Second, how a person spends sometimes speaks to their priorities as well as their vices,and not everyone is open about the latter.
Failing to discuss your spending habits can have consequences. In order to manage the conversation correctly, it is essential to let your love for one another take center stage as you talk. Approach your partner from a position of non-judgment and make sure you are open with them in return. That way, you can get a grip on each other’s spending habits. Thus, ensuring you can budget properly in the future and that neither of you is surprised by the other’s actions.
As you prepare to get married, taking some time to get on the same page about saving money is also critical. It isn’t uncommon for partners to have different priorities or visions for your futures together. Those visions can lead to challenges if you don’t talk through the differences.
Again, honesty is vital during these conversations. Let your partner know what you value and make sure to give them the space to express their thoughts without passing judgment. Then, you can work together to outline the goals you share. As well as, select priorities and determine how to handle the points where you don’t exactly agree.
Your primary goal needs to be to align your objectives and get on the same page. Otherwise, disagreements about where money is going or what it should be used for can derail even the most loving relationships.
When you get married, your spouse’s credit score directly impacts you, and vice versa. While it may be uncomfortable to discuss your credit report and score with your partner, it is better to do it before you get married instead of after.
Your credit scores influence so much in your financial life, including everything from interest rates on loans, mortgages, and credit cards to whether you have to pay a deposit on utilities. Your credit history can even affect your car insurance rates, and that could come as a shock to spouses who have very different credit scores and decide to get a joint policy.
Before you get married, sit down together and create a judgment-free space. Then, review your credit reports and scores together, ensuring both parties understand each other’s situations.
While having these conversations can be hard, particularly if you are lovestruck and focused on the brighter side of life, they are very necessary. Otherwise, you could be inviting hardship into your marriage, and that is no way to start your life-long journey together.
Did you learn a valuable money lesson before you got married? Share it in the comments below.