Getting Married

Just married couple with rings

Love is still Americans’ top reason to marry.

But even when you’re marrying your soulmate, money issues can cause friction. So what’s the key to avoiding stress and preparing yourselves for a positive financial future? Open communication. Here are a few pointers to get you started. If you need some help, you may want to seek out the services of a financial planner, such as The Wehrheim Group.

Talk it out

Sit down together with a list of every account you each have (loans, credit cards, checking accounts, savings accounts, retirement accounts, investments, etc). Then make the decision about whether you will combine any of your accounts and make a plan about consolidating and/or paying off debt.

(We have some helpful information about managing debt available.)

If you decide to open a joint checking account, please be sure to stop in or give us a call so we can get you set up.

Don’t keep secrets

Skeletons in the closet are bad news, including financial ones. Be open and honest about your debts, credit mishaps and your previous financial history in general. Be sure to do this before you walk down the aisle.

Many couples who don’t talk about their finances will attempt to buy a house or car together only to realize one of them has terrible credit. Save yourself an argument and get it all out in the open before it becomes an issue.

We recommend that each of you get a copy of your credit report and go over them together to correct any mistakes and see how each of you stand, credit-wise.

(We have a bunch of information here about improving your credit, if you’re interested.)

Set goals

Once you know what your financial pasts look like, talk about your financial future. Discuss if and when you’d like to buy a house, have a baby, buy a car, go back to school, etc. Discuss these big goals now so no one is surprised down the road and you can start to plan for them together.

Send an invite to your Linn Area family

(Or at least save us a piece of cake.)

After the big day, if you’ve changed your name, drop by with your marriage certificate and we’ll update our records. Be sure to let us know if your mailing or email address has changed, as well. Congratulations!