Wedding Wellness: Financial Planning as a Couple

Wellness isn’t just about fitness and health. It’s also about finding ways to alleviate stress in your life! Money is one of the major arguments couples have. ?One of the best ways to nip money stress in the bud before it becomes a problem is to plan as a couple for financial survival. ?Stop the financial fighting and enjoy your new life together!
  • Have an Ongoing Discussion: It is important to be completely honest about your finances with your partner especially if you will be combining accounts.??Discuss the issues in a calm manner and create a plan that allows the two of you to work towards common goals and dreams.??Plan a money date each month.
  • Pay off Debt.??Make an agreement and a plan to pay off any debt together so that you can move forward towards your goals as a couple.
  • Prepare for Emergency Situations.???Keep a savings account filled with at least 7 months? worth of living expenses.??You never know if one of you loses a job, if there is a medical situation, a fender bender.??Living on one salary and saving the other is a good way to see what life would be like if you plan to have children and have one of you stay home.
  • Put money toward your retirement plan.??Contribute as much as you are able to to your 401(K) or 403(b) to get the maximum match from your employer.??Do this also for your individual retirement accounts or Roth IRAs.
  • Compromise is important as a couple.??Each of you probably have goals together as a couple as well as personal goals.??Be respectful of each.??Stay calm and be proactive by creating a plan before a problem arises.
?What wellness tips would you like to see from Meera?