For many couples, a partner’s debt liability remains a secret. However, financial incompatibility is one of the major reasons for divorce. Avoid confrontation by communicating freely and putting everything on the table. Look at your portfolio individually as well as collectively, and execute plans jointly. This piece breaks down the post-marriage numbers game and explains how you can regain control.
Marriage is a relationship that’s based on trust and love. Once you get married, you need to sit down and discuss financial decisions, savings, financial goals, debt plans, etc. Although it would be ideal to have all these conversations before marriage, doing it right after getting married is the next best thing.
You may feel certain that you know your partner emotionally. But knowing each other financially would help you understand and trust each other even more. To live a happy life together, it is imperative to make financial decisions jointly, where both partners have an equal responsibility.
It’s not uncommon for couples entering into a nuptial relationship with their individual debts, be it in the form of an education loan, a personal loan, or even unpaid credit card bill...