Thursday, February 23, 2017

So You’re Getting Married…Financially Compatible

Where there is no vision, the people perish. Proverbs 29:18a

According to 100 relationship experts that were surveyed, finances are one of the top ten causes for divorce, surpassing infidelity (The Huffington Post). When there is no plan, then plan to fail – this credence rings very true when managing house hold income. If couples do not see eye-to-eye in overseeing their finances, then their marriage is doomed. You may be the mate that likes to spend money for the here and now, while you’re potential mate may be the saver, looking towards the future. Here are a few questions you will want to ponder with your significant other before getting engaged:

·        How much do you make annually?
·        How important is money to you?
·        Are you currently paying child support or alimony?
·        Do you believe in prenuptial agreements?
·        Do you set a limit on purchasing big ticket items, such as, cars, T.V.s and high-end jewelry?
·        What are your financial goals?
·        Do you have a set budget, if so, how do you go about establishing a budget?
·        How much debt have you accrued?
·        In a marriage, who should be responsible for handling the finances?
·        Do you believe in purchasing items on credit?
·        Do you have a savings plan and/or retirement plan?
·        Outside of paying for necessities, such as, food, housing, and transportation, what do you mostly spend your money on?
·        Has money ever been a factor in a break-up?


Remember ladies; pay attention to your man’s spending habits. If he isn’t very forth coming with answering your questions or he’s choosing to hide financial information, then take the high road because he’s not the man for you.

XOXO,



Jay



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