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Financially Preparing For Marriage

June is a popular time for weddings and it's important to be financially prepared for marriage. It may not be a comfortable conversation, but it's a talk every couple needs to have. Before you exchange your vows, here are some tips to consider:

~ Exchange details on your finances. Look at your assets, checking accounts, saving accounts and also your liabilities.

~ Share all of your financial documents. Include things like bank statements, mortgage bills and student loans.

~ Fill out a family wealth planning quicklist. Sit down and go through all of your financial documents and consider what you're going to be doing after you get married.

~ Decide how much you want to spend to on things like a new house, car, college savings, etc. When those things come about you'll be in a better position to come to an agreement on those decisions.

For more advice on finances for newlyweds check out the Virginia Society of CPA's

Suze Orman: Couple's Guide to Managing Money

 

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