In my early adulthood, my dad pointed out that in addition to love, marriage is also about becoming an economic unit. Having spoken to numerous couples about their finances, I have to agree. I asked my friends over at DivineMatchmaking about their experience setting couples up –where did the financial aspects come into play? Check out their response, and if you have had experience either starting a relationship (like Krystal) or well into the relationship and sifting through how to work cooperatively on finances, I’d love to hear, so leave a comment below.
Everyone knows that money can be a deal breaker. Most relationships end in divorce due to money matters or infidelity, and it is because of this that couples need to be aware of and focused on their financial situations before taking it to the next level; and they must also know how to manage the green situation once they’re in.
Here are a few basic tips for sorting out the small stuff, before it becomes big:
1. Openly discuss your finances with your partner, and develop a plan. Do you want joint bank accounts or separate? One car or two, etc.
2. Understand each other’s credit history so it’s no surprise when you go to buy that house together.
3. Give yourselves time to save up to buy that new house
4. Get debt under control before making the plunge.
5. And most importantly, stay focused- don’t let money problems get in the way of your love for one another. Life is too short.
Money is one of the last things you want to talk about when you’re falling in love, but the first thing you should talk about when things get serious. No longer do we live in a society where the husband is the sole breadwinner and the woman is the homemaker. Today more than ever, people entering into relationships share equal weight of financial responsibility, and most likely bring something to the relationship whether it is a little security or a lot of debt.
Especially in today’s economic and cultural situation (i.e. the bigger the better), it is important if not essential to know how, when, and to what extent you and your partner have to manage your money. Money matters have become both a blessing and burden; couples are more likely to discuss their sex lives than the state of their bank account.
Bottom line: money does matter; managing money in an economical, functional, and appropriate way can make or break a relationship.
Divine Intervention. Matchmaking of the Highest Order.
Readers – what do you think? Are relationships as much about being an economic unit as love?