Financial Literacy
For Your Future



Should I Get Married?

Financial matters matter in almost every aspect of one’s life. Getting married is no exception. In fact, the decision to get married or not could be one of the most important financial decisions of your life.  Many people don’t or don’t want to see the connection between getting married and financial matters because for many the financial considerations take the fun out of the process. Everything costs and getting married is no exception. Decisions also have expected benefits and marriage is no exception. These benefits are numerous and yes, they can be financial. Making the right decision regarding marriage is a very thoughtful, pragmatic weighing of expected benefits with expected costs now and in the future. The decision making guide is critical in this process and although sitting down with your possible marriage partner and having a decision making guide date night doesn’t sound romantic, it may very well be the most important date you will ever have.

This story seems timeless as it relates to love, companionship, finding your soul mate, and forming an emotional partnership that quickly connects to everything else from legal matters to dollars and cents. Usually the legal and perhaps more practical side of marriage come after the emotional commitment is made. Some cynics may say that the system places “the cart before the horse” and that is the reason more than 50% of marriages end in divorce, but it is difficult to see the process would work any other way. Few love stories would begin with two people who have never met before sitting down and identifying the expected benefits and costs of them getting “hitched”. Meeting, dates, courtship, and love are all parts of the love story that might result in the meeting. Ironically, the falling in love segment of getting married is covered in another application found in this very website. A review of this app could be helpful.

Well, it has finally happened, you have met someone that might be Mr. or Miss. right. Once began as a chance meeting at the “water cooler” has evolved into the formation of a connection that not only feels right, but just feels good. You can’t wait to be with the person no matter what the setting and you find yourself thinking about this person all of the time. Both of you seek the companionship of the other and it is beginning to seem silly (and maybe financially foolish) to have two homes and related expenses when you separate so seldom. You know that your partner views marriage positively and you do as well.  You have actually talked about marriage as an institution and, although no proposal has been made by either person, the concept is far from taboo. You find yourself visiting jewelry stores more often and dreaming of bigger and better places to live that would fit two people.

The stage is set. Maybe tonight is the night! Don’t forget to bring champagne, crackers, cheese, and the decision making guide. What you say, the decision making guide? Oh, you thought it was proposal night. No, this is the pre-proposal activity. 

The question of SHOULD WE GET MARRIED? needs to be answered first. A lot needs to be discussed from legal to financial matters. The guide is your friend and marriage partner. Be sure to follow the guide’s directions carefully. A paper and pencil (laptop) will help keep track of the many items discussed. This discussion may also result in solid directions as you identify and weigh the value of all of those expected benefits and costs of wedded bliss. 

Be sure to keep an open mind to all of the things discussed in your pre-marriage meeting. It is possible that at the end of the night, you both choose to be just friends. No matter what the outcome, the process of answering the question will result in a better life for both of you.       

Applications Insights Guide - click here for facts to aid your decision making process


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