Money is the #1 Issue to Discuss Before Saying "I do"

According a recent article from Reuters, how couples handle money early in their marriage can have a profound impact on the rest of their lives. Now, I don't disagree but couples better not wait until after the honeymoon to talk about the BIG issue. Money is the number one problem that couples fight about and a major factor in most divorces. Yet surprisingly, many couples don't discuss cash until there are problems. Some key issues that you must discuss before you walk down the aisle with anyone.

  • How much money do you both have in savings, checking, IRS's, 401K's and other assets?

  • What liabilities do you or your partner have? Include mortgages, car payments, school loans, personal loans, and credit cards?

  • What is the current status for you and your partner with the IRS? Beware of marrying anyone who owes the IRS money. It can cause havoc for both of you.

  • How do you both feel about money? For some money represents control, others view it simply for fun. Some folks are savers. Identify what your attitude is about money.