It is no secret that one of the most common challenges of newlywed life is finding financial balance. We compiled a list of ideas that could help you feel more confident about the way you handle your money as a couple.
One of our first tips is this: Talk about your financial goals and habits. Do not stress out if you and your spouse have different approaches to saving and spending. You can create a plan that will work for both of you.
Then it is time to look at the numbers. Tally your assets and your debts, and determine your net worth by subtracting what you owe from what you have saved up. Honesty is key. Once you know where you stand financially, start planning ahead by setting goals and deciding on a budget.
Listen to for more tips in both today's episode and tomorrow's.
When it comes to anything about marriage, this quote from Gordon B. Hinckley is a good one to keep in mind:
“In my judgment the real essence of happiness in marriage lies not so much in romance as in an anxious concern for the comfort and well-being of one’s companion. Marriage, in its truest sense, is a partnership of equals, with neither exercising dominion over the other, but, rather, with each encouraging and assisting the other in whatever responsibilities and aspirations he or she might have.”