Lovers do not think about money. the bride and groom don't talk about money.

  • divorce Statistics suggests that it would be better they did.

Love is broken up about family life and financial problems.

Therefore, the newlyweds/spouses to keep the family unit is extremely important to discuss their financial Affairs what I propose to talk about in this article.

So what advice about money and family finances I usually give my clients (and ready to share them with the readers of this article):

1) Create 5-year plan

Discuss with your partner how would you like to spend the next 5 years.

Write/plan all that will require cash outlay: where to go on vacation, buy some property, what are your daily expenses, how much you want to spend on fun and entertainment.

2) do Not confuse the petty bourgeoisie with wealth

we decided to "acquire" property.

over the years accumulated a lot of all kinds of junk that the house is almost no free space.

  • However, the property is the money spent (which is almost impossible to return back to the family budget).
  • Therefore, each family, in addition to the comfort of life, should care about their financial well-being.

Today, the salary/job is tomorrow it may not be. And I want to eat every day! Extremely short-sighted to focus only on the purchase of the property.

it Should, in parallel, to make savings and investments that will bring money into the house (not "make" them out, as with the purchase of the property).

3) Rate the "net value" of his family.

Sounds surprising, but this is done quickly and easily.

a Good indicator of financial success/strength of the family is its net value (i.e. market value of assets and investments net of loans and debts).

For many, it becomes a shock when the calculations show that their family has a negative net worth, or that it is constantly decreasing due to "wear and tear" of the property.

  • Assets/investments grow in value and generate revenue.
  • the Property wears out/is cheaper and takes money in the form of repair costs and maintenance.
again let me remind you about paragraph 2 "do Not confuse the petty bourgeoisie with wealth"!

4) do Not rush to buy an apartment/house

renting a home gives you mobility and the ability to quickly move to another region — for example, to get there more well-paying jobs.

  • apartments for sale virtually forever "ties" You to a particular district of residence and freezes invested in its purchase money.
  • Often much more profitable to rent housing on the income generated by the money (not spent on the purchase of apartments).

5) Most importantly — talk about money!

the couple enter into a relationship with differing, and sometimes very strongly, financial habits. They are children of different parents, and different families in different ways handle money.

Therefore, to avoid unpleasant surprises, discuss:

  • what and how exactly you will spend the family income,
  • how will you invest and prosper (to increase the "net value" of his family)
  • will you take out loans, etc. "money" issues.

6) be Careful with the loans

the Loans give the opportunity to buy something that your family can not afford.

You "take" money from your future, so you will inevitably be a decline in income and quality of life.

is it Worth the momentary pleasure for today's purchase of bitterness from having a long time of "belt-tightening" and limit their spending in the next few years?

7) Have a plan "B"

In case if something goes not as planned.

  • job Loss, income decline, injury or illness can make unexpected adjustments to your plans.
  • Be prepared for the elements — to wait out bad times will help you "financial safety cushion" (i.e. the money supply for six to twelve months of your family expenses).


  1. Read my other article "What skills are needed to become rich".
  2. Read my article "Where NOT to invest? TOP 3 most dangerous for the money."


Stuart McPhee
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