Building A Strong Foundation

DINKs should not be swayed by greater financial freedom; maximise the situation to your advantage to be future ready.

- Preeti Kulkarni

Marriage comes with responsibilities which includes managing family finances. For most people, marriage results in change in their financial circumstances and sets them on a course of major financial decisions that impact their future. Disagreements over financial matters has been the cause of several marital discords. To ensure you do not fall in a similar situation, test your financial compatibility and set ground money rules in your life after discussing with your spouse. Do not let the money conversations ever be one-sided.

Do not leave it for your spouse to handle money matter all by themselves. Be involved with finances; this will not only give you a sense on where you stand, it will also help ensure you both fully understand the situation in case of an emergency. For many, marriage is the first rude shock of waking up to financial consciousness—a step away from their carefree bachelorhood. They are no longer financially answerable to only themselves, which one must realise.

The change in relationship status is also opening to a world of realising financial goals and aspirations; the biggest financial decision of their life, buying a house, happens when they are married. The thought of having children and then getting into planning for their financial future, just the way your parents worked towards yours, could be daunting.All of these are easily achievable, if you follow the planned path.