Financial Counseling Before Marriage

2006-05-18

When a couple decides to walk down the isle to join in marriage, there are four areas that they need to be in agreement on to make the road a lot smoother - religion, children, parents, and money. As we focus on the financial counseling, it is important to be on the same page regarding money issues. By seeking the guidance of a skilled financial counselor you can start your marriage on a secure foundation.

This involves more than just agreeing on who will balance the checkbook. Financial counselors can help you with negoiating the tough decisions. There are some big financial decisions to make now and many more in the future. Financial counseling can help solidify each persons financial place in the marriage and what their responsibilities will be.

It is critical you are on the same page in regards to housing - will you buy or rent, and how much you are comfortable with spending within a written budget. You need to decide which credit cards and personal loans will remain open and which ones can be closed to properly manage the family debt. You need to decide are you both going to work now and after you have children, and how much you plan on saving to accomplish your goals and establish an emergency fund in the case of a lay-off.

You see by seeking financial counseling now, you will create more harmony in your marriage. Communication is key to a successful marriage. And those that are happy and financially sound tend to make things wok over the long haul.

For more help setting up a budget for you and your new family, visit our Budget Calculator or our Family Cash Flow Calculator and for more information on budgeting and financial counseling visit the related articles below.

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» Budgeting: Creating a Personal Budget for you or your family

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