Aaron Hill is a third year student at the University of Dayton School of Law, externing at Holzfaster, Cecil, McKnight & Mues.
Have you discussed with your significant other how the household finances will be managed? This is an often overlooked question that newlyweds fail to discuss. Among other reasons, “money problems” are cited as one of the leading reasons for divorce. It is, therefore, paramount for couples to share a similar outlook on money matters before they get married.
Communication and Compromise are the Key
Communication and compromise are the keys to any successful relationship. Couples who discuss what their financial goals and responsibilities are before they get married are starting their marriage on the right foot. It is crucial for the couples to sit down and communicate both long and short term goals. Short term goals include who is going to be responsible for paying the bills, handling the investments, or whether to establish joint banking accounts. Long term goals can include having children and how many, when to retire, and what kind of lifestyle to lead. When couples communicate these long and short term goals, their relationship is much more likely to succeed. When couples do not … Read More... “Is Money Really the Root of all Evil?”