The Most Authentic Guide on Personal Finance and Investments

Words of Wisdom : "If past history was all that is needed to play the game of money, the richest people would be librarians." ~ Warren Buffett

Getting married? Check the ‘money compatibility’ (Part 3 of 3)

Do your financial goals match?
Your goals/desires – vacations every year, a big independent bungalow, a big car and higher studies! Your partner’s goals - latest electronic gadgets, a good compact flat, a small fuel-efficient car and starting a business!

So how do you reconcile these conflicting choices? One must discuss these financial goals before marriage itself. This would enable both of you to take a view as to whether they can be reconciled; or are you likely to end-up fighting regularly about such matters.

What are the views on budgeting?
Some view budgeting as a restriction; while others see it as an essential step towards financial freedom.

Both ‘no-budgeting’ and ‘too-much-budgeting’ are bad. The idea is to work out a middle path. Again this can happen only by sitting across the table and sorting things out...that too before marriage not afterwards.

Money is not an easy topic to discuss. But it does give rise to disputes. We need to accept this fact rather than hoping that things would work out fine. Relationships have to be worked upon. But remember, it’s not as if one of you has to change or compromise. Rather you have to try and strike a proper balance. It is not the question of mistrust, but of managing diverse views amicably.

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Ignorance is like a SIGNED BLANK CHEQUE... anyone can MISUSE it.

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