Getting married can be a financially stressful time. But there are plenty of ways you can simplify the financial management issues that come up along the way. Careful planning and goal setting with your partner can get you started. From there, financial services that make your life easier can set yourself and your partner up for less stress - giving you more time to focus on the fun parts of getting married.
In our infographic, "5 Financial To-Dos Before Saying "I Do," we explore five steps you can take to simplify your financial life when preparing for marriage.
Our advice starts with the need to set expectations. Couples who have established financial lives prior to marriage often face a complex decision in figuring out how they want to share their existing finances and future assets. Do you and your partner want to operate with a completely shared pool of financial assets, sharing both wealth and debt equally? Are there certain things you want to keep separate, sharing some of your income and debt while keeping other matters separate? There is not really a right or wrong answer to these questions. The critical thing is to plan ahead, set clear expectations and be transparent with one another.
Once you have that initial decision made, you are ready to work with financial planners to manage your debts, set up the right accounts for your needs and get your financial partnership ready heading into your marriage.
There is a lot you will need to consider as you plan for the future, and having convenient access to robust banking resources can ease some of the stress. Solutions offered by Comerica Bank can make life easier. Our specialized high-interest checking account can deliver robust digital management capabilities alongside special benefits that extend to other services from Comerica Bank. Check out the infographic for the full list of financial steps to take before you say "I do."
