Getting married is a happy and exciting time. With so many things to consider with your significant other, one of the issues that can put a damper on the positive energy is money. Financial issues can create a lot of stress and even animosity in a new marriage.
In this installment of The Smart Money Gal, Jennifer addresses this concept and provides ten helpful tips for newlyweds to get their finances in order. It can be much nicer to discuss the topic of money before it becomes a necessary issue and tensions are high.
So sit back, relax, and grab your notebook because these tips are sure to help you start your marriage off on the right foot!
Timecodes:
00:42 - Overview on today's show topic
01:12 - We are about to be in a massive wedding season
03:00 - We want to avoid financial animosity and stress
03:36 - Tip 1: Agree on a set of financial rules and goals
04:20 - Tip 2: Create two wills!
07:00 - Tip 3: Put all your financial cards on the table
08:20 - Tip 4: Control your expenses
10:25 - Tip 5: Talk about handling any family financial issues
12:00 - Tip 6: Update your beneficiaries
13:15 - Tip 7: Create a budget together
14:40 - Tip 8: Decide on a banking structure
17:25 - Tip 9: Choose one person to pay bills and schedule meetings to go over them
19:00 - Tip 10: Decide on a limit for purchases that don't require collaboration
20:20 - Recapping the 10 tips for newlyweds
26:26 - Avoid the drama and have open communication up front
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