As seen in South Lake Neighbors Magazine (April 2019)
By Marc D. Langva, CFP®, Founder & CEO at WorkOptional
When couples get engaged, they are excited to plan for their special day. But newly engaged couples need to think past the wedding day and figure out how they will begin to manage their financial lives together. As most of us know, money in the number one issue that couples argue about.
Engaged couples, now more than ever, are discussing their finances prior to marriage, however, more is needed then just a simple conversation. Finances are an emotionally charged topic, and avoiding the topic can create communication issues in the future.
One option, that many people find successful, is bringing in a third party, a Certified Financial Planner (CFP®), which can help ease couples into an otherwise hard conversation. Communication can reduce the surprises, as nobody likes surprises. When couples can openly discuss details about budgeting, debt, financial goals, savings and retirement, financial stresses begin to become less stressful.
For couples that find themselves continuing to struggle financially or having on going money matters, don’t blame yourself, or each other, for your financial situation. American’s are not programmed to know how to manage their finances.
So besides bringing in a CFP®, what else can you do?
Changing your financial behavior is not easy. Being on the same page about spending habits, saving plans and future financial goals can help form a unified family and begin to build a successful financial future for years to come.
Margaret Leto April 11th, 2019
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