Managing Finances – Key to a Successful Marriage

Managing Finances – Key to a Successful Marriage
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    You have had a wonderful wedding, an even more wonderful honeymoon and now it is time that you have to get back to your normal life, regular work and get settled into your newly married life.


Managing Finances – Key to a Successful Marriage

While married life requires a lot of efforts on the personal front, it also requires a lot of work on the financial front too. The basic thing about a happy married life is that both the husband and the wife needs to work their way towards being happy and managing finances is a very important aspect that needs absolute care. When you have trouble with your finances things can get very stressful and often lead to divorce. There has to be a financial solution to this problem and budgeting is the best solution that you can have.

How managing your finances can help your marriage

The key to a happy marriage can really be lying in the way you handle your finances as well as responsibilities as a couple. It may seem like a lot of work in the beginning but once you get it streamlined things will become far easier. It is easy if both of you come to an agreement on who is responsible for paying the bills as well as other responsibilities in a given month. Before you were married you may have made a lot of independent decisions but as a married couple you may have to take a lot of decisions together including decisions about credit.

Here are a few tips on how you can be sensible about your finances and be informed about credit:

  • Know your position:
    Get updated information on your credit report and make sure that the information that your reports contain are correct and not misrepresented. In fact you are entitled to a free credit check each year and if you want more than once you can pay for them. If you find any misrepresentations on your credit report you may like to dispute it and get it corrected. Again, there may be credit card debts that you may like to take care of. These debts could be standing on your way of getting better rates.
  • Do not close pre-existing credit:
    Closing or canceling any pre-existing credit could be harmful for your score but leaving it intact may not have any negative effect on it wither. In fact, it is good if you can maintain some credit in your name in the event that you get into some sort of disagreement with your partner and end up getting separated or divorced.
  • Apply for new credit only when required:
    A new marriage is very exciting and often you may have plans of purchasing things as a joint venture. Credit cards with good offers can be really tempting but there are a lot of credit companies that make great offers and if you end up creating a new line of credit you could have a negative impact on your score instead. If your score gets lower lenders could be setting higher interest rates for your new credit requests.
  • Pay your bills on time:
    Late payments should strictly be ruled out because they sometimes involve large penalties. So, make sure that your partner and you are in the clear about who is responsible for the bills each month. This is why good communication is absolutely essential between partners and a sense of responsibility must exist too.

Budgeting in life is very important and if you can do that you can also save some money which is a very important thing to sustain yourself in any economy. Communicate well with your partner. This is the key to a good marriage.

Description: Married couples need to be all the more careful about managing finances better in order to become financially successful as a couple. gives you tips on how you can get better with money.

Author’s bio: Jonny Pean has helped several individuals with her finance articles. His articles are a great source for tips on being sensible with money.

Consumer Tips reference:

debt management guides

SaleBestseller No. 1
Money and Marriage God's Way
35 Reviews
Money and Marriage God's Way
  • Howard Dayton
  • Publisher: Moody Publishers
  • Edition no. 0 (04/01/2009)
SaleBestseller No. 2
Money Before Marriage: A Financial Workbook for Engaged Couples
12 Reviews
Money Before Marriage: A Financial Workbook for Engaged Couples
  • Larry Burkett
  • Publisher: Moody Publishers
  • Edition no. 0 (04/05/1996)
Bestseller No. 3
Your Money, Your Marriage: The Secrets to Smart Finance, Spicy Romance, and Their Intimate Connection
52 Reviews

Last update on 2020-03-20 / Affiliate links / Images from Amazon Product Advertising API


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