One of the reasons why I started www.RemarriageWorks.com is that it is very important to go into a second marriage with eyes wide open. After all, approximately one million people get remarried every year and 65-70 percent of these remarriages end in divorce. Financial issues are often cited at the top of the list of reasons why remarriages break up.
Strong warnings about the combination of remarriage and financial problems have been issued in a flurry of press coverage recently. If you are planning to remarry, whether after divorce or widowhood, I urge you to read them. But, don't get buried with worry or fear. Instead take a positive approach as a remarrying couple and have healthy discussions about the content. Dig deep into the details as much as possible.
I wish I had. Before my husband and I got remarried, we thought we had thoroughly discussed our finances and philosophies about money. We talked about our intentions for our five children's college educations and really thought we were on the same page. Several years later when it came time for my stepdaughter to go to college, we suddenly realized that we hadn't explored the topic between us in enough detail.
Happy reading and discussions to you! There is plenty of material in the following list about remarriage, stepfamily living, finances, and money to get you started. Just promise me you won't run scared for the hills!
- The Case Against Remarriage by Catey Hill, SmartMoney.com
- Are You Remarrying? If So, Don't Forget the Financial Implications by Meghan Streit, Erickson Living Tribune
- What a Second Marriage Does to Your Money by Jill Krasny, MainStreet.com
- Blended Families Require Financial Planning by Matt Krantz, USAToday.com