Updated: Feb 3
Congratulations, you’re getting married.
Before you partake in a ceremony of holy matrimony there are a few things you should consider in order to avoid your first financially related argument.
Talk about your financial ghosts
As the saying goes, all great relationships are based on great communication. Talking with each other to understand where you’re both financially at is a great move to make before you commit to each other for the rest of your lives.
Create a Joint Budget
As two become one, two budgets also become one. Creating a budget to understand what goes in and out of your household is a great way to manage your finances.
Protect Yourself (with a Prenup)
Whilst the word 'prenup' screams Hollywood A-lister, surprisingly/not surprisingly prenups are becoming more and more popular with marriages. It’s a great way to provide clarity on all the things you have or don’t have if in the unfortunate event that you do split up.
Update your insurance policies to include your other half
It can often be forgotten to update items such as your car and house insurance with the details of your other half. This may get you into problems if, for example your partner is driving, gets into an accident and are not listed on the insurance cover.