Getting Married Or In A Long Term Relationship?

Embarking on a long-term relationship is a wonderfully exciting time. But after years of being financially independent, it can be difficult to start talking about joint finances.

Merging your funds and assets may be beneficial in terms of bank charges and fees. You may want to consider preparing a joint budget, including major expenses such as a wedding that you may want to start saving for.

It may be worth considering what would happen to your joint assets if your relationship ends for whatever reason. While full pre-nuptial agreements are not to everyone’s liking, some form of agreement can be an effective way to safeguard the interests of both partners.

And if you are thinking of getting married, you will need to discuss how to make financial provision for the wedding without adversely affecting your long-term financial goals. It also means there are new financial obligations – for example, should one of you die prematurely, the spouse left behind could face a very uncertain future if the right planning is not implemented.

Financial planning may not be the most romantic of concepts, but it can significantly contribute to a happy long-term relationship.