Financial Advice for Men Before Marriage: How to Improve Your Financial Health
A little financial advice for men before marriage can prove useful for many men and their relationships. It can be difficult to keep money matters in check, but when you plan to bring someone else into it, it is better to have your financial standing as organized as possible. Simple changes can improve your finances and help to prevent fights regarding one of the most challenging topics in a relationship - money.
Organize Your Financial Records
Have you ever been asked for a bill or tax records and said, “Just give me a few days to find it.”. This should not be the case. You should not only know where your financial records are, but should be able to find what you need immediately. Buy file folders, a lot of them, and break down your financial records into categories. Next, alphabetize the folders and, if you do not have a filing cabinet, rubber band them tightly together and put them where you can find them.
Take Charge of Your Financial Situation
The first step to realizing what your financial situation is, is to put it all out in front of you. Make a list of every financial issue in your life; denial does not do you any good. Maybe you are carrying a credit card balance or you have no idea what is going on with your investment accounts. Next to each item, write what you can do to make positive changes and immediately start on them. The sooner you start, the sooner the issues can get resolved.
Cut Down on Unnecessary Expenses
Do you stop at the ATM several times a week or eat out often? If this is the case, these are some of the unnecessary expenses you should cut down on. This is extra money that you can put into your savings account for yourself and your future wife. When you make the changes, after awhile, chances are the new changes will become habit instead of a hardship.
Work On Your Retirement Account
Some men have a retirement account and sort of contribute to it; others do not contribute to it at all. Then there are those that max out their contributions. You are never too young to think about retirement. The more you contribute now, the less you will have to stress about it later. You will want to enjoy your work-free life with your wife later on in life, not worry about working multiple jobs just to make ends meet.
Have the Money Talk
So you found a woman you want to spend the rest of your life with and you decided to get your finances in better shape, but what about her? Having the money talk with her is vital before marriage. You need to know where she stands on her finances, how she handles money and how she plans to deal with the finances when you two are married. If need be, both of you can work to improve your financial health together.
The best financial advice for men before marriage is to realize that it is no longer just about you. You have a potential mate to worry about. More often than not, someone will want to marry a man that has a good financial standing, not have to carry the burden of all his financial woes. Getting everything together before you tie the knot is better for you, for her and for your life together.
Sources:
https://www.youngmoney.com/money_management/saving/Money-talk-before-marriage/
