How Financially Compatible are You with Your Partner?
India is surrounded by traditions and rituals. The marriage season never goes off. Talking about destination weddings or simple marriage ceremonies there is always a bar rising higher than before.
It is said that marriage is not just a relation between two partners but the entire two families. What’s the main point we look into the partner? Mainly emotional compatibility, secondly understanding. Two individuals are said to be perfectly compatible when they understand each other in every aspect. Apart from emotional compatibility, it’s the financial compatibility that is seen. Financial compatibility helps the partners to live an accomplished life. Many of you think that financial compatibility means both partners have equal money, but it’s not the case. It means what perspective both have towards money and what is the importance of money for them.
Know what money makes to your partner:
Different people have a different value for money. Before getting married, you should know what attitude your partner keeps towards money. Lack of communication can create a sense of misunderstanding between you and your partner. Planning a wedding is not as easy as it seems to be, we can say that it’s a step by step plan. These plans reduce the burden as a whole.
These steps involve-
- Setting a budget
- The theme of your functions
- Preparing guest list
- Choosing venue
- Inviting the guest
And other small but essential things. Marriage is the most overwhelming activity for couples. The excitement and expectation are to the next level. Imagining a perfect wedding and making your imagination the reality needs a well-planned functioning.
Having a conversation around money with your partner:
When you both come to know each other’s views regarding money, make this topic a part of your regular conversation. The income and how you spend it and also how much you save and through what, these are some common talks that you may include in your common talking.
Setting a budget includes income ratio and expenditure ratio. Expenses are necessary plus luxury too. Also, your investments will have a glance in your budget. Checking up the bank accounts will help in dealing with various such heads. Deciding a day every month where bank accounts can be checked. This will help in planning a further budget and will rectify if any issue arises.
Arrive at a common goal:
While going your own way of managing money and bank balance, maybe one person is not satisfied with the way of other person management of money. Both have to discuss and mutually agree on common terms, spending, and saving. In case you cannot come to a common and stable decision you can consult a financial advisor. The financial advisor will tell you every detail regarding every possible term and this will then help you to come to a common decision.
Make the other person accountable:
When both of you, you and your partner come upon a middle ground decision, it is important that you keep your partner accountable. Don’t make your partner feel like his/her opinion was not considered. Communication is the key to a healthy marriage life. It will ensure that you are on the right path.
Financial compatibility plays an important role in couples. Don’t let financial incompatibility be the reason for issues in your relationship. All the above factors will help you to grow your financial compatibility and will help you in the present and future too.