“For Richer Or Poorer”

It’s no secret that money is a major pressure point for many marriages not only in Pennsylvania but all over the world. The many monetary obligations couples have such as paying mortgages, bills, insurance, retirement, and children’s education, among many others, weigh on a relationship. It doesn’t come as a surprise that this monetary pressure and the stress it causes is one of the top reasons that couples argue and choose to file for divorce.

Going into a marriage couples are aware of most if not all, the monetary obligations that will be involved in the relationship. There are of course cases in which a financial obligation will come up, but for the most part, you know before tying the knot the kind of bills and expenses you are going to be paying as a couple. Since you have this knowledge, use it to your advantage. Before the wedding, you should talk to your future spouse and discuss how expenses will be covered and prepare for any unanticipated costs that may come up.

You should consider having a very serious conversation not only about how bills will be paid but also about how much will be saved. You should discuss if the money will be invested in stocks, kept in a savings account, or a combination of the two.

Things you should be sure to talk about include:

• Retirement plans

• Saving for current/future children

• Saving to buy a home or pay a mortgage

• Student loans

• Credit card debt

It is important to have a roadmap and your goals laid out so that once you’re married, you can work together to stay on course and achieve these goals. If you plan appropriately, it should mitigate the amount of stress and tension financial crisis and conflict may cause.

Having this conversation sooner rather than later will limit the amount of tension involved in the conversation if you and your future spouse have differing goals or opinions.

Your Pittsburgh Family Lawyers also recommend the use of a trusted financial advisor to help you plan for the future.

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