For most of the couples discussing finance is not at all romantic. But life has its own way and time comes when we have to face these situation.I have listed 7 important points which should be discussed so as to secure one’s financial future.
Did you save enough
According to a recent survey more than one third had less than $1000 in their Bank account. More than half of them had less than $5000 in their Bank account. Many people say that they do not have any financial freedom. Ask yourself and also your partner do you have any emergency savings.
Are you aware of your Debt
More than 60% people have credit card debt. Adding to it the credit card bill raises and there is no end to it. Many of them do not pay them fully and they juggle through these bills. So these bills get accumulated and thereby causes lots of financial strain. So a strict financial plan has to set up and you should strictly adhere to it.
Do you know your Credit Score
Suppose you want to make a big purchase like buying a property you should know your credit score. Credit score reflects both your credit,debit as well as the payments you have made. Maintaining a good credit score would help you to get your loan request process fast and you are at ease with your big purchases.
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Do you budget and save ?
How do you do your budget and how to you save. It may always happen that your partner likes to spend whereas you are conservative with regard to spending. The best way is to follow a middle path and keep a balance between your spending and saving according to your budget. You can take the help of online tools to keep a track of everything related to your financial situation. One such tool is Learnvest which helps couples to pursue their dream but at the same time keep a tract of their spending.
Do you really have any Financial Goal ?
What is your financial 5 to 10 years ahead ? Do you really have any financial goal in place. Now financial goal should always be planned depending on the present status you have now. If both you and your partner are working then setting up financial goal is much easier. A financial goal is not something to be kept for the future.
What is your retirement planning
Survey indicates that marriages demands a future financial planning. You can plan your investments like investing in mutual funds, stocks bank fixed deposit and so on. While taking these decision your partner’s view would be very helpful and you can come to your decision quickly.
Do you share finance ?
Depending upon your relationship with your partner you can share your financial status. You can have joint accounts or individual accounts. Both you and your partner should sit down and decide what expenses should go from whose account. It is not always easy to discuss about finance, but the main thing lies in the relationship between you and your partner.
After considering all the above factors you can always think of taking a loan to improve your present scenario. If you are really thinking of taking the Loan route visit the link below.