Co-founder & CEO, FinPeace | Capital Expertise: Mutual Funds ,Fixed Income
Nirmal Rewaria FinPeace.in
Getting married is an important decision in life and each one of us has different plans when it comes to marriage. It is a relationship where you share happy and gloomy moments, cheerful and terrible times with someone you love and care for. But there are thousands of things which you should keep in mind before tying knot with your partner.
Many unmarried people generally shy away from asking financial questions to their partners. They should understand that it is important to ask key questions about the financial stability of the partner. Financial talks make things easy for both spouses.
A frank conversation between a girl and boy is very essential to avoid disputes later on. Try to interact more and discuss each other’s hobbies, likes and dislikes. Make each other feel comfortable while talking.
When you feel the comfort level, casually ask about:
*Annual income and where does s/he invest *Try to figure out if s/he is more of a spender or a saver: *How much s/he spend on herself or himself *How much income s/he has to share with her/his family after marriage. How shall be her /his other family liabilities like helping younger siblings in studies and marrying them *Financial obligation like home loan, education loan or other loans. Credit card dues and how frequently s/he uses it *After marriage where will you stay, at parents’ house or he has his own house or he is planning to buy one post marriage *Will you be part of all financial decisions or not? If both of you are earning, discuss how would you both like to spend your money on house expenditures and other things
It is the right of every person to feel financially safe and stable in the marriage.
Many countries have prenuptial agreements for couple to provide them financial stability in case the marriage fails. These agreements are very common among celebrity couples. There is nothing wrong in discussing money before marriage.
So plan your life well and don’t forget to discuss financial matters with your partner before getting engaged.