Some advice for young newlyweds

Just read an article at Forbes related to a core value we emphasize in our pre-marriage mentoring sessions. It's reassuring to see the same advice from a Financial Planner...

Financial troubles can wreck a marriage.

Many young couples aren't comfortable talking about financial issues and to avoid conflict, many simply don't discuss them.

Our number one suggestion is that couples develop a budget outlining income and routine expenses.  Without a budget, many young couples simply spend money as quickly as they earn it and are unprepared for the first bout of unemployment. You don't want to be between jobs without a rainy day fund.

Secondly, talk about your finance picture. And if you find yourself in deep weeds, get counseling.

Question: Do you want to stay together or not? Put away the goo-goo eyes and get serious about your financial future.

Comments

[Bowden]

Great post! Are you familiar with "You Paid How Much For That?: How to Win at Money Without Losing at Love" by Natalie Jenkins and Scott Stanley?

[Jim]

[You Paid How Much For That] Familar with Scott Stanley, but haven't read that book. I'll check it out.