Financial Mistakes to Avoid In Marriage Episode 134, LIFE LESSONS AJ

 Marriage is an unmatched and important event in one’s life. To ensure the same we must take care of certain aspects before and after it. Let us look into the financial aspect of the same.

Hi friends and welcome to Life Lessons

There may be many events in life but not all of them are important as a marriage day. This is the day that comes only once in a lifetime. This is probably why people strive to make this day a very special one in their lives. It is nothing wrong with this sort of perspective. The problem arises when people plan marriages far greater than their capacity. Here capacity not only implies financial but also some other factors too. On the other hand. The financial aspect of this not only includes the marriage day but also those financial problems after the marriage too.

Let us look into some most common and evidently found financial problems or challenges in the upcoming lines.

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Probable Financial Challenges in context to Marriage

1.       Financial life:

When one gets ready for marriage, the person looks into his/her personal finances to be clear, but never thinks about the other. This is the reason why most couples find it difficult financially.  For example, there may be a difference in the spending habits between the both. This difference must be well understood beforehand to make a better and happy couple without any problems.

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2.       Starting on the Wrong foot:  

A wedding day is no doubt a memorable day in a person’s whole life. Thus people tend to overboard their marriage expenses without thinking about the personal capacity to stand against the expenses. We have witnessed many such people who made this day lavish with credits brought for the same. These people probably spend years repaying their debts for the single-day expense. This is not a great idea for sure. In fact, it is a very negative way to start a new life after marriage. This is evident to those people who pay their own marriage expenses rather than taking from parents. Experts suggest planning in a budget that we can really afford for this day is the best way to start a new life after marriage.

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3.       Up-gradation of Paperwork: 

        People seldom never focus on these aspects. It is important to take care of the paper works that would probably change after marriage. For example, the nominee space of the husband’s insurance should be upgraded with the wife’s name along with other family members. These sorts of updates are seldom neglected by many people, and these turn disastrous when any mishaps happen in the early marriage life.

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4.       The decision of lifestyle: 

        Many small things impact and determine the lifestyle of the couple. For instance: In some houses, the home expenses are handled by the wife and in some cases, the husband takes an active part in this. This decision is different for different couples but this decision should be taken in the initial stage to avoid future arguments. Not only this, but many other small aspects add up to a smooth lifestyle.

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5.       Earnings and Egos: 

     

        In some cases, both husbands and wives both earn for the family. In these cases, they should sit back and decide the expense style along with various savings and investments. It is always a good sign when the couple decides whether to merge the income or keep them separate with a predetermined saving and expenses schedule. In these sorts of cases, egos between them are the major challenge and it is their responsibility to ensure no problem arises in the future.

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Bottom line:

After turning out 25, I have been observing that some of my friends’ match is getting fixed, and I thought of the probable problems one may face in this context. Thus I researched a bit to know about probable challenges that one may face in this scenario. Thus I tried to dedicate a blog to these people and wishing them a happy married life. I hope I mentioned the importance and common of these challenges, let me know if I can address any new challenges through your comments below.

 

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