Do you make money mistake while marriage? There’s an article about 10 most common mistake make by couples related with finance :-
1. Not discuss about finance with their couples. Talk about money ain’t easy. There’s an ego between them especially for male. This is need to change. Take a time to talk about money at least one time per week. You must know what you know and don’t know about finance. Discussion with your loves will solve your financial issue.
2. Think that you can buy love. Love is not about diamond ring or luxury car. Maybe it will make your couple happy but the important thing is about your future. A study from Brigham Young University found that couples with two materialistic spouse could worse off and have high risk to divorce.
3. Ignoring conflicting spending habits. Some of couples don’t want to interfere with spending habits of their couples. It is not good. The studies from Northwestern University and University of Pennsylvania found that individuals gravitate toward spouses who look, sound and act as they do except for money.
4. Not agreeing to divide money. Marriage is about joining. You need to divide your expenditure. Your financial plans include on how to divide money to spend it.
5. Taking on too much debt. Many couples have many loan in their lives. Sometimes they make a personal loan for their wedding ceremony which they need to pay for their entire life.
6. Hiding purchases or debts. Maybe you don’t want your wife/husband know what your loan or purchase. Hiding it not the best way. They will know and it will make worst when the secret revealed.
7. Lending or borrowing money from family. It not good way to get money. Even though they are your family but it will effect relationship if the deal goes bad. If you want to borrow, avoid with related family because it will effect your future.
8. Believe to split up financial responsibilities. Some of couples split the responsibilities such as woman manage the day to day finance while men in investing and financial planning. It look good but it can’t really work. Let’s know the couple strength to do the job.
9. Financial disagreement for long time. Couples need to settle their financial agreement fast and don’t delay it. Delay it will make it worst.
10. Not enjoy the money together. Don’t make law ‘your money is your money and my money is my money’. This is not a marriage. Share your money together with your couple and you will live happily.
Source :- Finance Yahoo
That’s some 10 common money mistake from marriage couples. Maybe it will help you to manage your finance.