5 Budget Areas to Review Before Saying I Do

Home News Budget Basics 5 Budget Areas to Review Before Saying I Do
5 Budget Areas to Review Before Saying I Do
Share this Blog Post:

I recently installed a related posts plugin. It creates a list of links to articles with similar topics. The nostalgia has me reading old posts and strolling down memory lane.

In four years of blogging and working to encourage #teamdebtfree members to maintain family budgets, save money, and strive for debt free living; we’ve amassed a large collection of articles. In addition, we’ve shared some pretty interesting guest posts too.

One of our first guest posts to a popular blog, Black and Married with Children, was White Board Economics. This funny story about a white board and pre-wedding, Come-To-Jesus meeting one of our financial coaches had with her then fiancé. To this day, we laugh heartily at how a white board saved a marriage and helped bring two together as one on the same page financially.

Coincidentally, they’ve just celebrated their 10th wedding anniversary. You can read the entire story here. I do apologize in advance for the formatting. I guess 4 years of updates can wreak havoc on old articles.

For a quick summary, before you say I DO these 5 areas NEED a review.

1.       Schedule a Kitchen Table Review. Have a sit down with your spouse to be. Disclose all financial details and make a plan for addressing them. Honestly share your past and present missteps and wins with money. Talk about future goals. Keeping secrets (especially in the money department) is no way to begin a new life.

2.       Create a Realistic Wedding Budget. When we first wrote this, the average wedding cost $20,000. Today that figure is closer to $30,000. Wow! Plan your wedding with an eye on your future. Use the engagement period to save up and pay cash and fund the wedding you can afford. Taking wedding related debt into a new marriage can add additional, unnecessary stress. Adjusting to marriage is enough work on its own.

3.       Attend Premarital Counseling. If the counseling does not contain a financial management component, seek more counseling!

4.       Merge Only After Marriage. An engagement is not a marriage. This should be a time to test the waters. Keep your affairs separate until you say, “I Do”.

5.       Stand Your Financial Ground. If a potential life mate shows no regard for improving financial habits before hand, alarm bells should ring. You may need to postpone or consider ending an engagement until habits begin trending in a better direction.

How much would you pay for a wedding?

This post parties with Broke Girl Rich and Debt Discipline.
Share this Blog Post:

Leave a Reply

Your email address will not be published.