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How To Manage Finances In A Marriage

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Financial problems of couples

The Wedding is a beautiful word which connects the two different thoughts and lives to a single entity with lots of love and affection towards each other. Rest of their lives will be spent with their dear one after their wedding.

Though you are going to start your new life on this auspicious day, yet you have to face the problems that occur after this special day. So a good planning is required for a couple to lead a prosperous life.

Often many breakups occur early in a relationship due to the financial arguments. Since money is one of the main cause lets know how money affects the relationship.

1. Engagement ring:

 Beautiful and attractive engagement rings are popular for marriages and as the popularity increases price also goes up. According to a survey camp “More money spent on wedding ring shortened the marriage life.”

 Most of the people always perform the actions without thinking its consequences, the same thing happen here as they buy and spend more money on engagement ring by loaning the amount.

 Diamonds are women best friend and it is also important to give her a good wedding ring but not at the cost of your entire property.

 Love and affection are more valuable in this world than any piece of metal worn on their fingers. So a beautiful ring of average price is enough to make her happy by sharing your future with her.

 So express your love in terms of care and affection not by buying the costly ring which puts you in the financial crisis.

2. For a wedding:

 It can be said that one of the most valuable things in one’s life which will make memories both in terms of happiness and sorrow.

Happiness is for the future that you are going to spend the rest of the lives with your beloved ones and sorrow is for the future that how you are going to spend the rest of the lives after investing huge amount on this auspicious day.

It is common that people dream of having their wedding by gathering both groom and bride’s relatives under a beautiful place and have a nice dinner. This in turns out to be too expensive for a single day spending a huge amount.

Make the weddings simpler by inviting the closed ones with a decent dinner and concentrate on the quality and quantity, not on the amount that doesn’t make any better.

3. Talking about finances before marriage:

 In the beautiful marriage comes the financial problem, the couples who always discuss each and every moment in their life among each other, fail to communicate the financial problem as they think it may cause a big problem.

These type of problems are based on the trust and loyalty and hiding secrets in a relationship which is stronger than any other clashes between them ending up in divorce or breakup.

Don’t bring this money come between your relationships and end up badly. Spend quality time with your love instead of money.

4. Marriage affects your taxes:

 Marriage brings happiness in the life as well as brings some problems regarding taxes. In the eyes of law, after marriage, you are considered as couples.

If both yours and your spouse income is high, then you are forced to pay high tax. Marriage in-turn increases tax for both of them individually. So it eventually pushes you into higher taxpayer bracket.

5. Marriage affected by student loans:

 If your partner has a student loan to be cleared by the time of marriage it will be a hell of a problem. If the loan is not cleared after the marriage, you cannot buy a house together.

It also affects your other financial obligations. It means that your partner needs to have extra funds than earned to pay the debt occurred by the student loan. The debt collectors will be hounding your back.

You can lose your patience, time and get irritated and frustrated frequently which is not good for health and for a good relationship. This also causes the divorce and breakup in a relationship soon.

So know your problems before marriage and help yourself out of it first and then marry your love. Don’t step in marriage blindly without any proper planning and financial background. Know better about taxes that have to be paid as a couple instead of as an individual.

Make your expenditures very wise in the selection of wedding, ring, places visited as a couple which directly helps your savings which in-turn helps you lead a happy future. Having financial crisis in a marriage can also affect the life of your kids if any.

A permanent job in high position must be secured to have a smooth wedding life. Hope everyone makes a right choice in marriage and don’t make money a cause for your divorce or breakup. Always think about the future before doing anything as for how it will affect our lives.

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  1. Pingback: Marriage And Finance Issues – AlloutFinance.com

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