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Finances and Insurance

The two biggest causes of marital disputes are in-laws and finances.
Since you cannot choose the members of your family, let's look at managing your money.

The first decision you must make is whether to pool your money for: (a) all expenses, (b) living expenses, or (c) not at all. For budgeting purposes, however, you should base your plans on your combined monthly income after taxes.

The next step is to create two lists and estimate the expenses under each. 
The two lists:
1. Fixed expenses. Examples: Rent/mortgage. Utilities. Loan payments. Insurance. Tuitions.

2. Discretionary expenses. Examples: Groceries. Gasoline. Gifts. Entertainment. Dining out. Retirement savings plans. Investments.

If the total monthly budget for these items exceeds your monthly income you can pare things down by cutting back on entertainment, dining out and gift expenses.

Unless you deal with the budget at the start, money worries will cause friction later. Then stick to it.


 


    

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