Here are the most important financial matters to talk about.
1. Debt tops the list. Each of you should come into the marriage clean. Discuss your existing loans, credit card debts and the like. Be honest with each other’s debt conditions. If coming into the marriage clean is not possible, discuss early on how both of you will go about the debts in your married life together.
2. Next in the list is income. This should be a subject of concern because in our materialistic world, income almost accompanies status symbol. I am sure you don’t want to appear as though you are earning enough when you don’t. Be open with your expectations with each other. Maybe you want to decide earning on if you want to have a one-income family. Perhaps the husband would not want his wife to get employed because he wanted her to take care of the home full time. These arrangements should be discussed before the wedding so that you don’t have to deal with surprises later on.
3. Third, you must know early on how you are going to pay the bills. If you have decided to merge the family income, this will not be a major issue. But if you choose to have separate accounts, you should arrange early on who takes care of what bills. Figure out how you will share in paying the groceries, the utilities and housing.
4. Lastly, discuss your financial priorities. You have to know where you would spend your money on. This will also create the pathway that your marriage will take over time. Some of the major considerations are your life and retirement plans, healthcare programs, college education of your children, and even vacation. This would also be a great way to assess whether you are financially compatible with each other.
These topics are necessary to have a harmony in your finances. Any differences can be ironed out this early so that you don’t have to deal with unnecessary pressures as you begin your life together.