We all know that once you make the decision to marry someone you are tied to them for life (or at least that is the intention!).  With this in mind, you know with all your heart that you truly love this person, but do you know everything there is to know about them.....financially?  Romantic, right?  Sure, talking about money is not what every newly-engaged couple wants to discuss, but if you don't know everything there is to know about your partner, you can get yourself into more trouble.   

I recently got married and I knew enough about my husband-to-be that I had questions to ask before and after we tied the knot.  I knew that at one point in his life my husband filed for bankruptcy; what I needed to be clear about was how that affected me.  Well, I found out that if you are married to someone who owes money (or does business practices that come back on them negatively) and it gets to be an extreme case, those who your spouse owes can also go after you and your income, if you file taxes jointly. 

Not that I am worried about that with my spouse, but it's a better reason for us to be very open about our finances and what is and is not hanging over us.  Same thing with taxes - how do you file?  I reached out to the firm that does our taxes each year and had a sit down session with them to answer all my questions and my spouse's questions.  It was important for us to truly understand each other's financial status, in order to grow a stable future together.  Remember, he is taking on my debt too! 

Other financial tasks that might slip your mind after saying "I Do" include: updating forms, such as your beneficiary for your insurance and retirement plans.  Talk about what you want to do regarding bank accounts - joint or separate.  All of these things affect your marriage and security.  It is important to share the responsibility. 

Check out this article I found.....simple and so true:  "6 Financial Mistakes Couples Make".

So don't forget to say, "I need to know" or, "I need to tell you" before saying "I Do" - no one likes surprises - especially when it relates to financial security! 

Related Posts:

Save Your Marriage and Money

Communicating With Your Spouse about Finances

One Down....Two to go 
 

Katie Simmons

Katie is a participant in the CareOne Debt Management Plan. Katie is a contributing writer for the Single & settling in blog. Katie's story is not unique.  She lived beyond her means and it caught up to her!  Over 2 years ago she made the decision that no one could get her out of the mess she created with her debt, but her.  Since then, she has embarked on an adventure of learning how to take care of herself without credit cards in her life and how hard it can be to be single and in debt.  She is experiencing every challenge and every success while working her hardest to be debt free. Compensated CareOne Blogger.

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