{"id":6458,"date":"2013-03-13T08:00:51","date_gmt":"2013-03-13T13:00:51","guid":{"rendered":"http:\/\/www.topweddingsites.com\/wedding-blog\/?p=6458"},"modified":"2014-04-15T13:22:12","modified_gmt":"2014-04-15T17:22:12","slug":"a-future-family-finances-are-you-ready-for-marriage","status":"publish","type":"post","link":"https:\/\/www.topweddingsites.com\/wedding-blog\/wedding-planning\/a-future-family-finances-are-you-ready-for-marriage","title":{"rendered":"A Future Family & Finances: Are You Ready for Marriage?"},"content":{"rendered":"

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Money and kids are two major facets of life, especially for couples who plan to marry and share the rest of their lives together. Are you ready?<\/p>\n

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Joint Finances & Disclosure<\/h3>\n

In preparation for marriage, settling finances is paramount. Couples must be open\u00a0\u00a0\u00a0 about their financial histories and future monetary goals. Joining bank and credit card accounts should also be an in-depth topic of discussion before the big day. DailyFinance.com<\/a> contributor Ross Kenneth Urken\u00a0explains that for a married couple, separate accounts can diminish trust within the relationship, thus complicating the family budget and everyday spending. Urken\u00a0strongly recommends that couples disclose any student load and credit card debt, income, assets and personal perspectives on money management.<\/p>\n

Ask and honestly answer questions such as, “can I give up my financial independence?” “Am I hiding anything?” “Do we share the same opinions about major anticipated expenses?” Ultimately,\u00a0Urken emphasizes that merging bank accounts can help “achieve both wedded and fiscal bliss.” A unified, solid bank account signifies the “alliance of the marital bond.” Free money management software offered by Mint.com helps monitor spending, set budgets and track goals. Mint also offers a mobile app for monitoring expenditures, tracking pending transactions and sticking to a budget, which serves beneficial for day-to-day financial decisions.<\/p>\n

An often overlooked aspect of settling your finances prior to marriage is protecting and securing those documents as a new couple. MyID.com mentions that marriage licenses and certificates, confidential financial documents and credit reports are targets for expert identity thieves. Prevent devastating identity theft by storing documents in a safe place and never casually carrying them in your wallet. Before joining accounts, comb through credit reports to check for suspicious material and unauthorized purchases. Release personal financial information on the Internet with hesitation. Protection services offered by Lifelock<\/a>\u00a0help protect from credit card fraud and identity theft<\/a>, which can alter you and your spouse’s eligibility to apply for auto financing or a home mortgage.<\/p>\n

Family & Children<\/h3>\n

Complementing a discussion about finances is a conversation about family. Both individuals must share the same familial desires as well as agree upon parenting techniques and the type of home environment to foster.<\/p>\n

If you’ve both decided that children are in your future, communicate<\/a> beyond that decision to avoid complications and a strained relationship down the road. Although you’re in love and enjoying engagement bliss, ask and answer the following question with your fiance:<\/p>\n