UK Wedding News
06/09/2011
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Most couples talk money before saying "I Do", a survey has revealed.
A recent online poll commissioned by the National Endowment for Financial Education (NEFE) and conducted by Harris Interactive finds while 86 percent of those who got married in the past five years or plan to get married in the next 12 months say they expect to talk about money and their financial situations prior to the wedding.
Many couples do not know how to start the conversation with their partner, nor completely understand how to effectively merge their finances.
"It's not unusual for two people in a relationship to have very different styles of money management," said Patricia Seaman, Senior Director with NEFE.
"The key is discovering differences early and reconciling them to maintain a positive financial future and a healthy relationship."
Seaman suggests couples talk about how they will divide routine household expenses, decide how they will set aside a little bit of discretionary spending money for each other, and review and understand each other’s credit history and credit score. According to the NEFE survey, 43 percent of respondents say they did not know the credit score of their fiancé before marriage.
And when couples are unsure how to combine finances and do not effectively communicate about money, financial infidelity can occur.
"Financial infidelity is a common problem," added Seaman. "It can be anything from hiding cash or purchases to keeping a secret bank account.
"Some of the warning signs could be your partner feels very defensive when it comes to talking about money or someone insists on handling all the bills and the financial transactions alone."
(GK/BMcC)
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Couples Seek Financial 'Happy Ever After'
Most couples talk money before saying "I Do", a survey has revealed.
A recent online poll commissioned by the National Endowment for Financial Education (NEFE) and conducted by Harris Interactive finds while 86 percent of those who got married in the past five years or plan to get married in the next 12 months say they expect to talk about money and their financial situations prior to the wedding.
Many couples do not know how to start the conversation with their partner, nor completely understand how to effectively merge their finances.
"It's not unusual for two people in a relationship to have very different styles of money management," said Patricia Seaman, Senior Director with NEFE.
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"The key is discovering differences early and reconciling them to maintain a positive financial future and a healthy relationship."
Seaman suggests couples talk about how they will divide routine household expenses, decide how they will set aside a little bit of discretionary spending money for each other, and review and understand each other’s credit history and credit score. According to the NEFE survey, 43 percent of respondents say they did not know the credit score of their fiancé before marriage.
And when couples are unsure how to combine finances and do not effectively communicate about money, financial infidelity can occur.
"Financial infidelity is a common problem," added Seaman. "It can be anything from hiding cash or purchases to keeping a secret bank account.
"Some of the warning signs could be your partner feels very defensive when it comes to talking about money or someone insists on handling all the bills and the financial transactions alone."
(GK/BMcC)
Top stories
20/03/2020
LeToya Luckett-Walker Is Pregnant
Charlotte Crosby Finds New Romance
Lydia Bright Gets Candid About Giving Birth
Lana Del Ray Splits From Boyfriend
Angelica Ross Learns Of Boyfriend's Secret Life
Ashley Graham's Breastfeeding Struggle
Susanna Reid's Mother's Day Plans
Lin-Manuel Miranda Homeschooling Kids
Kristen Bell Speaks Of Pride For Daughters
Prince George & Princess Charlotte Now Homeschooled
