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Hi I'm Joe Cuenco, I'm a marriage researcher and writer. Today we're going to be talking
about how to avoid financial difficulties during marriage. Now this is a real key issue
avoiding this financial difficulties during marriage because it's one of the top three
issues that either cause marriages to break apart or cause for marital disharmony. So
it's real important that you sit down and communicate between each other and determine
what your short term and your long term goals are. The experts will tell you that it's important
to have six months of discretionary income for family to deal with, with the unexpected,
work layoffs or some unforeseen circumstance. But, and it's really difficult to predict
something catastrophic coming along as you hadn't plan for, but it tells about six months
is a good target to have in terms of saving and disposable income. But you really need
to have a discussion about what it is that you want, short term, long term. Do you need
another car because of, because this one is six year older longer. Would you like to have
a boat for recreation? Would you like to take that special vacation or perhaps an anniversary
is coming on, something, something that nature needs to be budgeted for. But the real key
is that you develop a plan and stick to it. Perhaps you can work with a financial planner
or work with an accountant to help you work through. What are the staples that need to
be provided for, for household maintenance and also how do we invest appropriately and
also build for the future. So, working, working the details out, is important but you also
have to stick by the plan. Make a commitment to stick by the plan and if there any deviations,
you need to talk about it. And if you're going to spend more than amount of money that you
allocated in your account, you need to talk about it. In younger years, particularly younger
couples have a real issue with making major purchases and thinking they have to have everything
right up front. A good key indicator is if, don't make a major purchase without consulting
with the other person. But if you, if you are considering doing something of a large
nature, then wait perhaps two days, a week, to determine if you really need that. Because
sometimes if you go ten days thinking about buying that flat screen tv, you may not need
it as much as you thought you did. So again, working out a plans, sticking to a plan is
important, talking about it, communicating and making sure that it becomes a tool to
make you happy, long term plans become attainable as oppose to an issue managing your finances.
I'm Joe Cuenco, researcher and writer, love for life.