Marriage and romance will forever be intertwined, and after you tie the knot, so will your finances. While your heart may be a-flutter, try to keep your feet on the ground when it comes to your finances. As the infographic indicates, the average divorce can cost between $15,000 – $20,000. You should strive to come to an accord with your significant other about money and finances to prevent misunderstandings down the line.
Knowing where to start the conversation with your significant other can be difficult. While a prenuptial agreement may or may not be part of your discussion, the most important step is to truthfully lay out your marital and financial history, especially with regards to debt burden, outstanding loans, and credit ratings.
You can use this checklist to help create a starting point for this important discussion. Keep in mind that one of the top reasons couples divorce is disagreements over money. By having an open and honest discussion, you can put your marriage on a path to success.