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Practical Planning Tip: Who You Decide To Marry - Dangers of Not Agreeing On Money Issues

April 12, 2024

Today we will conclude our discussion on why The Most Important Financial Decision most people make is Who they Decide To Marry.”

 

Specifically, we are going to discuss the dangers of not agreeing on big money issues with your spouse.

The big financial matter to keep in mind is that Divorce is costly: A failed marriage is the quickest way to lose half your wealth. I used to think that day trading, gambling, or buying the latest cryptocurrency were the most effective methods of losing money. However, all these things pale in comparison to the cost of divorce, which, incidentally, is often precipitated by disagreements or strain over the family’s finances.

Not every marriage lasts and there is a system for handling divorce. However, it’s important to do everything you can to ensure that you and your spouse are on the same page about money from the onset, or it can lead to very unfortunate and costly consequences.

In conclusion, I’ll admit that Personal finance is not a particularly romantic topic. Nor is it what most people think about when searching for their bashert. But it should be! Money is a tool that will allow you to live the life you want. If you are dating, take the time during the courting stage of your relationship to ensure that you are both on the same page about money. If you are married, it’s worth investing time in discussions about your finances and the role it plays in your lives. Be honest and introspective on your views, behaviors, and history with money. It may make an extremely positive difference in your relationship.



You can WATCH the full video here.