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Love can sometimes be blind, especially in the midst of an engagement and wedding planning. While I don’t think that love suddenly disappears after the honeymoon, like many would suggest, I do think the reality of finances can hit couples hard after they settle down. Here are three smart financial moves every couple should
consider before tying the knot.

Reduce debt
You might not think your credit card debt and car loan are that big of a deal. In fact, you can probably afford to part a certain part payment easily each month. But your budget might start looking too tight when you combine your debt repayments with your spouse’s debt repayments, and then add on a bunch of new costs.
It is important to know how much your combined debt will be when you get married. Both you and your loved one should disclose any debt or financial obligations. Once you know your combined total of debt, try to reduce it by 50 percent before the big day. This might mean taking more hours at work, doing side jobs, or getting a second job. It is much easier to do this drastic debt attack before marriage then afterwards.

Discuss your financial goals
Both you and your partner should spend time writing your goals on index cards and talking through them. Goals might look like this:
-Being debt free
-Going to school for a higher degree
-Staying at home with children in three years
-Take a vacation every year
-Buy a home in two years
Whatever your goals are for the next 5-10 years, you have to incorporate them into your budget. If you both agree to have children and the wife will stay home with them in three years, then you need to take the right steps in the beginning of your marriage. You should be living off of one income right away, while establishing a strong savings account.


Rethink your wedding costs
You might want to cut costs wherever possible if you are paying for your own wedding. Being saddled with some debt for one day of celebrating is a bit extreme. Pay for cash for your wedding whenever possible, and remember, the day is about you as a couple, not about making the wedding look like it belongs in a magazine.
What is the point in impressing your guests with a lavish wedding if you are stuck paying for it for 10 years afterwards?
Getting married is an exciting time for all couples. I strongly suggest taking time to discuss your finances, financial goals, and budget before walking down the aisle. It might not be sexy to talk investing and budgeting, but it will prevent a lot of issues later in your marriage.

Culled from BusinessDayOnline



http://businessdayonline.com/2015/08/3-financial-moves-to-make-before-getting-married/#.Vb9IsflViko

hm

how try nest time

ok

@OP ure very correct, irrespective of d fact dat love is greater dan money people still 4get d fact dat when poverty comes in tru d door, loves runs out tru the window.

Great thread!!!
People need to get financially wise esp with this cash guzzling ceremony called 'wedding'


Fp material!

Where them cc: Ishilove, Lalasticlala

True talk.

Nice write-up. Hard truths.

“They say that love is more important than money, have you ever tried paying your bills with a hug?” — Nishan Panwar

“Money may not buy love, but fighting about it will bankrupt your relationship.” — Michelle Singletary

Ok

Seen

Some people just jump into marriage and after fee months they go broke and blame their woes on The FG.

If you don't have enough to blast you and your wife for five years don't get married.

Great talk!

4. Think about how you will place the standard of living of you and your partner after the marriage especially on the part of the groom

Nokia torch for sale

Okay ooo

well observed

Hmmm....good...
Tohpahz or Ishilove here i come.
Naijaboiy will you be my bestman?

I don't plan to spend much on that wedding

Hmmmmmmm

ok
the truth is that a lot of couples spend more time preparing for the "wedding" than the actual "marriage"

after all the "owambe", a bank account that looks like sahara desert stares at them straight in the eyes

the take home message is this......

"those who fail to plan,plan to fail"

People need to get financially wised-up from the age of 5 (both genders)

Girls need to know about boys, sex, self-esteem and self-independence by the age of 8

k

.

people will be spending money for weddings like it's gonna last forever forgetting that after the ceremony the new family will need lots of money to sustain themselves.

And it's not as if they are rich ooo or from a wealthy family. After the wedding ceremony they'll end up in long term debt

Invest more in your lifetime marriage than a day wedding!!!
In the end all you have is waste product as a result of excess meal

F

ok,i will tell my future Fiancee

Naso

nice one. an eye opener

That wedding cost could be a bit of a problem.