(StatePoint) – Finding the love of one’s life can be tricky, but what can be even trickier is making sure they are both on the same financial page before they walk down the aisle.
Meeting with a Certified Financial Planner professional may not sound like the most romantic aspect of wedding planning, but getting aligned on money matters can safeguard the relationship against one of the most common sources of marital strife. Here are a few ways a CFP professional can help:
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Getting aligned: A person’s “money story” is informed by how they were raised, experiences they’ve had or financial lessons they’ve learned – and everyone’s story is unique. A CFP professional does more than crunch numbers. They help you understand your personal money story to facilitate productive discussions about spending, saving and other financial matters.
Addressing the past: If either he or she brings debt to the marriage, it’s essential to be transparent about the type and amount of debt, even if an individual intends to keep their finances separate. Debt can affect the ability to pay for daily expenses and save for the future. A financial advisor can help create a repayment plan.
Addressing the future:...
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