05.01.2012 / Tis the Wedding Season!
Wedding season is just around the corner and we know many of our customers are at the stage when they are either getting married or thinking about it. While you are thinking about the ceremony, the new house or the registry, you also need to be thinking about finances. Do not know where to start? Here are a few things to think about before you get ready to tie the knot.
"Here are a few things to think about before you get ready to tie the knot."
- How much do you know about your fiancée’s financial outlook? If you haven’t had a discussion about the state of your finances – what the two of you owe in credit cards or student loans and what your financial goals are – now is the time to do it! Make sure you focus on what you owe and what you want to have long term so that both of you can get on the same page about your finances.
- What kind of accounts do you want to have? Do you and your intended want to have joint accounts, keep everything separate or have a combination of both? Do you want the credit cards to be in both your names, or should you each have your own? While there isn’t a one size fits all solution, eventually couples figure out what account situation works best for them. Discussing before the wedding helps prevent headaches after the wedding.
- What does your budget look like? Just like we recommend learning about your fiancées current financial state, make sure you discuss your current budgets – and what you want your budget to be once you get married. Many couples find that they have very different ideas on what certain things should cost. Don’t wait until after the wedding to discuss how much is too much to spend on groceries or whether or not Husker season tickets are a must-have or a “nice to have.”
Getting married can be a wonderful time, and with some advanced planning and discussion on your part, you can enter your new life financially ready!
