The Bride's Heart

A recent article in the Chicago Tribune has been giving many engaged couples some food for thought and made them question how much they really know about each other’s past.

This is not the past involving dating, or even family: It is finances. When a couple decides to wed, they are usually sharing financial responsibilities and will have the best chance of success if they share similar approaches to saving and spending. This is one of the major reasons that financial disclosure before wedding is so important.

The article discusses some of the reasons that discussing money before the wedding can help prevent trouble in the future. Sharing financial information is so important because it can change the way money is dealt with after the wedding.

When financial disclosure before wedding happens, the couple can decide if merging accounts is wise or not. In some cases, such as a spouse with a bad credit history, it may be best to avoid mingling finances so that the spouse who does not have bad credit won’t be affected.

Another smart move is to consider a prenuptial agreement. When an agreement is in place, there will never be any doubt about how the money will be handled, so it never has the chance to become an issue. A few simple moves now can save a great deal of heartbreak in the marriage later.

Source:

http://www.chicagotribune.com/business/yourmoney/sc-ym-0228-marriage-money-20100225,0,7978166.story