Finances, like all aspects of a marriage, require working together, communication and love. But here recently, the handling money as a couple scenarios has gotten a little more complicated.
Truth be told, most people do not have six figures in student loans, let alone multiple six figures. So when I share our story and how we work together with student loans.
When you get married your debt is their debt, and their debt is your debt. Joint accounts, separate accounts, no accounts, it doesn’t matter financially you are bound together in a marriage.
Over time we have adjusted social groups and made lifestyle changes in order to reach our goals as a couple. We work together on financial decisions and we use each other as a checks and balances system.
Lay it all out: For starters, make sure before you even get married you discuss finances as a couple with a trusted financial advisor. Make sure to discuss everything – no secrets.
Whether you are marrying someone with student loan debt or credit card debt, you still need a long term financial plan for your future family.