This blog post was originally published on SALT, April 19, 2017
My nephew Ryan is marrying his girlfriend, Whitney, the end of this month. As an aunt, I am excited to witness this young couple make a long-term commitment to each other. I just love a wedding!
But as a money and emotions expert, I know that it is important for any engaged couple to realize that marriage is a financial commitment as well. Unfortunately, one of the biggest contributors to divorce is financial conflict.
Because I love Ryan, I plan on having a little chat with him before his wedding day. Here are some highlights of what I will say.
Work As A Team
Too many couples fight about finances and work against each other when it comes to spending and saving decisions. My husband and I have been married for 20 years. One thing we have done well is work as a financial team, in both good times and bad. Any young couple should strive to do the same.
It is unrealistic to expect that you will always agree with each other. My husband and I come from different money histories, and we needed to spend time understanding each other’s money mindsets.
Celebrate these differences, and capitalize on each of your strengths. You will be emotionally and financially stronger as a result.
Go On Money Dates
My husband and I go on regular money dates. During these dates, we talk about money, ask each other curious questions about our respective financial histories and mindsets, and discuss how to proactively plan for our future together.
If you’re engaged, it may seem like you have plenty of years to talk about money. But do yourself a favor and discuss money matters now. Trust me—the last 20 years passed very quickly!
What money advice would you give to an about-to-be-married couple? (Click to Tweet)