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Getting married might sound like the ‘happy ever after’ many are searching for but there’s more to it than love and romance. There are some ‘sensible’ issues you should discuss too, including your financial situation and plans. Here are five money questions to ask before you tie the knot.

 

READ MORE: “BABY OR NOT?” 5 COMMON RELATIONSHIP ISSUES TO TACKLE BEFORE MARRIAGE

 

Do you have money issues?

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Come clean with your partner if you have any outstanding debts and also confess if you have issues handling money. Are you the type who eats instant noodles every last week of the month because you’ve spent all your money and are barely surviving till payday rolls around again? Be honest if you have indulgent spending habits. It’s not a good idea to be hiding designer shoes in the closet because you don’t want your husband to find out.

 

Do you use credit cards?

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It’s fine to pay things via credit but are you maxing out your cards? If you are, it shows you’re financially irresponsible and need to get organised. Also, we know the perks of using credit cards – accumulating points, for example – but it’s only a good idea if you’re paying your bills in full each month. Forking out for exorbitant interest rates is a definite no-no. Discuss your credit habits so you’re both prepared for any issues that might need to be addressed.

 

READ MORE: 10 QUESTIONS TO ASK BEFORE MARRIAGE

 

Who’s going to pay the bills?

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Set the rules for who pays for what once you’re married. Disclose how much you earn and any extra income or bonuses you might have too. Also take into account any other responsibilities like giving your parents money every month. It’ll then be easier to calculate how much money you’ll have as a couple and how you’re going to spend (and save) it.

 

Do you want a joint account?

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Whether or not you choose to pool your incomes together is a personal decision and will depend on what both of you are comfortable with. You could open a joint account, keep separate accounts or have a combination of the two – as long as both of you are on the same page.

 

What are your financial goals?

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Ask yourselves about your long-term plans. Is your goal to invest in property or stocks, or just to have a fully-paid-off house to live in for the rest of your lives? What about your retirement plans? Financial ambitions vary from person to person and you should both decide what you’re aiming for.