Seven steps to a financially successful union.
According to the New York Times, when it comes to marriage, financial compatibility is more important than romantic compatibility. The paper posits that even though these days love usually takes precedent over loot, "marriage at its core is still a financial union" and your partner's spending habits have a massive impact on your monetary situation and happiness. They quote a divorce lawyer who says money is a "huge factor in breaking up marriages." Hopefully you'll marry your financial soul mate, but if you don't, the Times has some hints for pecuniary harmony.
1. Before tying the knot, discuss your financial goals and expectations and make sure you're on the same page. You could even have weekly meetings to make sure everything is on the table.
2. Treat your marriage and home like a business. Keep a budget, make decisions together and make sure both partners are up to date on your financial situation, even if one spouse handles the bills.
3. Support each others' careers.
4. Don’t spend too much—make sure you have enough in the bank so if your investment in miniature poodles doesn’t pan out you have a cushion to fall back on.
5. If you can't agree on money matters, bring in a third party like a financial advisor or therapist to help sort out your differences.
6. Keep some money in your own piggy bank—don't pool all your resources; you should be able to buy those python-print pants, but don't do it from the joint account.
7. Spend money on your marriage. Having a lot of money won't do you any good if your marriage is emotionally bankrupt.
Did the Times miss anything? How do you handle money matters in your household? Let us know in the comments.