November 25, 2008

Sorting out finance before marriage

As if getting married was not stressful, enough there is also the financial side that needs to be considered as well.

The trouble is that these days almost nobody has a clean slate when they eventually find that special person who they would like to spend the rest of their lives with.

It is one thing to trust a person in marriage, but what about before you met.

Most people these days would have had some sort of relationship before, they may have even been married or in a long term relationship, this could have resulted in join finances and even debts, so it is essential that both parties sit down and be honest about past finances.

Here are some points to think about:

How are both of you going to manage your money and your expenses?
What are the ’sins’ that each other are committed to?
Are there financial dependent family members from either side who needs to be cared for?
What are the financial ‘burdens’ that your partner is carrying over?

Source [Money Churner]