Pre Wedding Financial Checklist

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Wedding season draws near as surely as Spring, so let me include one more thing couples should be thinking about – how are you going to combine your finances?  Here is a checklist engaged couples should discuss before the wedding.

Pre-Marriage Financial Checklist

Discussion and coordination should begin even before the wedding – especially before the wedding.  Discussing your finances and goals before getting married may seem hard, but will lead to fewer problems and surprises later.  Here is a checklist to discuss and coordinate before getting married.

  • Discuss your financial goals; for example, debt, children, home, saving, travel, etc. Be specific on near term goals and, as always, be prepared to compromise.
  • Review your joint financial state, income, debts, and savings. Do not keep debts hidden; future surprises yield more mistrust than frank discussions.
  • Know each other’s credit rating so if there are problems you know how to handle them.
  • Decide how to merge financial assets and accounts.
  • Agree who will pay the bills and balance the checkbook – one person, both alternating, or splitting responsibilities – but remember that both need to know where you stand financially regardless of who actually pays the bills.
  • Determine if you need a pre-nuptial agreement because one partner brings substantial assets to the marriage.

Collaborating on the wedding can give useful insights as to how the partners manage money and can coordinate when married.  Make the pre wedding financial checklist part of your wedding preparations to get your marriage off to a sound start.

About John Kimball

Over the past few decades, I have experienced most of these financial issues with both mistakes and successes. I sure wish someone had told me these things when I was first starting out. So many times I have cried out, "I want a do over!" when I learned a new financial lesson or tip. I aim to pass along to you the financial insights I have gained from experience, reading, analysis, and living the financial aspects of managing, saving, investing, and spending your money. I am an analyst with a large organization and happily married with two children on their way to an expensive college, no doubt. I read numerous financial blogs, websites, newsletters, magazines, newspapers, and books to bring you the latest news, insights, tips, and lessons combined with decades of experience.

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