Along with planning your wedding day, don’t forget about planning for your marriage. Before getting married, it’s important to start thinking about what your financial lives will look like after you say “I do.” If there’s a ring in your future or already on your finger, here are some great resources to get you started as you plan your special day and the rest of your life together.
Planning a Wedding
Weddings can be expensive and it’s very easy to stray off budget. Here are a few tips to help you control wedding costs while still planning the wedding of your dreams. The Knot also has some great resources and checklists to help guide you as you plan.
Combining Your Finances
It’s important to evaluate your overall financial picture as a couple so you can be in a good place before you get married. Alleviate any disagreements or issues before being married by having an open conversation with your future spouse. Your lifetime commitment to each other and your shared finances will determine so much about your future including where you live, when you start a family, and your overall quality of life.
As you prepare to merge your lives and finances, here are some other questions to address together:
- What does your budget look like?
- Are you both saving enough for retirement?
- Do you have life insurance to care for your loved one in case the unexpected happens?
- How will your bills – including everything from utility payments to cellphone payments – change?
- Whose insurance company will you use?
- What financial institution will you use?
- Do you need to add your significant other as a beneficiary on your accounts?
Dupaco offers couples free Money Makeovers that will examine your total financial picture, help you tidy up your finances, and see if there’s a way you can save money in other areas of your life to help pay for your wedding expenses.