IndiaLends Advisory

By IndiaLends Advisory

Jan 25, 2019

How To Establish Financial Stability In Your Marriage

Marriage is life-changing, there is no doubt about that. So when everything about you changes, why should your finances be any different? There are all sorts of expenses that you have to manage once you get married. Here are a few ways to establish financial stability in your marriage-

Wedding Expenses

The D-day itself incurs more expenses than we plan for. You both can talk about how you want to spend on the wedding and whatever does not seem important, cut those expenses out. Another wise thing that you can do is to not touch your savings for the wedding and not trouble your parents too. Get a personal loan for your wedding and spread the wedding expense in smaller chunks and pay it together to achieve financial stability.

Consolidate: Debts And Assets

The moment when you said “I do” to each other, you made a promise to share your griefs and joy. Finances are also a crucial part of your life and hence yo need to consolidate that as well when you get married. You might choose to keep your earnings separately or joint as both of you decide but you should make an action plan for all your existing debt if you wish to establish financial stability.

Related Article: Why You Should Go For A Personal Loan When You Are Getting Married

Say No To Unnecessary Subscriptions

Saving money is not an overnight thing. You have to make a budget and adhere to it. There are a lot of things that we subscribe to, unnecessarily. For example, are you really going to hit the gym this time? Will you be able to take out the time for that book club? Are you going to take your sports membership seriously? If no, then don’t keep piling on your expenses and choose your financial stability over everything else.

Free Customer Rewards Programs

Sign up for credit cards that offer reward programmes. Analyze your expenses and understand what you spend on most. Once you have that figured out, get a credit card that suits you best. Take this decision after careful research and you must check out the best credit cards before you make a decision.

So there you go, these were a few ways to establish financial stability in your marriage. Do not forget that the key to achieving anything within a marriage is communication. If you have any couple finance related questions, we would love to answer them in the comment section below. Until next time!

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