2320 Love and Money

Today's WSJ has and article on nine financial points to consider if you are planning to get married. I'm going to suggest a tenth, or rather a first--talk about religion and faith matters, and factor that into the budget. First of all, it's just plain smart--you can't outgive God. But secondly, it could cause a huge fight in the future if you find out he's a dollar-in-the-plate guy and that was your first clue about his commitment! Thirdly, you might just find out that you don't know each other as well as you thought, and will call the whole thing off!

2. Know your intended's debt load.
3. Know how she uses her credit card--is she charging $1 soft drinks and lattes? Shop aholic?
4. Know your own financial behavior and mistakes--share credit reports with each other. Don't let a bankruptcy or students loans surprise her.
5. Giving up your career? Get a pre-nup. Or at least bring it up for discussion.
6. Talk about your dreams and aspirations.
7. Discuss career expectations. One income after kids? SAHM? Might be a good time to even discuss if you're planning to have a family, wouldn't it?
8. Who will be the gatekeeper and family accounts manager? Know this going in.
9. One checkbook or three?
10. Do you know the lingo--how to discuss finances--the acronyms--401-k, 403-b, IRA, etc. Do you know why paying the minimum balance on the credit card is a disaster for your coming marriage?

You can make it work without any of this--I should know--I've been married 46 years and didn't know zip about finances at 20 when I said "I do." But as we old folks are told each and every day, "It's not the same today."