Financial mistakes could be disastrous for your marriage and should be avoided at all cost and if you’re about tying the knot this info is timely for you. Love is ideal for a home but for a long-lasting relationship between man and wife, all your ‘money-matters’ need to be handled upfront and delicately at that.
Merging of accounts
While this is a sweet gesture, it might also be the fastest route to a divorce. In the spirit of love and to prove their trust in their spouse, some people make the mistake of forming a joint account. What a lot of people forget is that ‘you are first an individual before you are a husband/wife’. As such, you have private needs and wants. If you must have a joint account, then do so but maintain your personal accounts as well. See the joint account as your family savings account and both of you should discuss the terms of operation of the said account.
Being secretive about money
The truth is that to avoid drowning yourselves in deep waters, you need to be open about money. Talk about your income, your debts, your credits, your spending habits; put everything out in the open. Most marriages suffer because of lack of communication. Although it’s better to have this talk before marriage and it’s not late to do so now.
Marriage requires teamwork not just for reproduction, but for money too. Marriages where only one partner carries the financial burden of the family are most likely to crash. Couples should be able to split the burden in order for the family to make any head way financially. You don’t want to be a burden to your spouse so figure out a way to help them out.
Ignoring money problems
Don’t put things off when they are related to money. This also boils down to communication. Tackle issues sooner before they become even more complicated. This is why you need both communication and clarity.
Having zero- savings and no financial goals
Forever is a long time to live without solid plans. As a couple, you need to sit down and plan for your future together. You took a together-forever oath so you don’t expect to just take it one day at a time. A lot of marriages fail as a result of this mistake. Aside from your personal savings, it’s advisable to make savings as a family.