Take your financial precautions before getting married

[Himon2413]

To get their marriage off to a good start, couples must be honest about their income, expenses and debts.


Before saying "yes" the bride and groom must be transparent and inform each other about the most relevant aspects of their financial situation. Here are some questions that must be resolved to avoid conflicts.*1. Do they have any debt?*If one of the two has an outstanding loan, being up to date with the payments and paying off the debt as soon as possible should be one of the couple's first tasks.
Personal finance specialist Alfredo Ramírez says that from now on, any payment problem one person has will affect his or her spouse. For new loans, banks kuwait number screening will evaluate the couple's payment record.
2. Will savings and investments be made together? Ramírez says that this will depend on the objective of the savings and investments. "If it is for the purchase of a home or some common asset, the savings should be made together. But if it is for an individual purchase, it could be done separately," he points out.
3. Who should manage the income? One of the two can take the lead or they can decide to do it together, the important thing is that it is done with discipline, he points out.
"If you already know that one of you is a bigger spender or doesn't know much about personal finances, then you can ask your partner to manage part of your income," she notes.
4. Who should pay for the household expenses? Shared expenses such as housing, food, utilities, etc. should be shared equally. "Once this has been deducted, each person can manage their own expenses," stresses Ramírez, director of the financial portal comparabien.com.