DINKs should not be swayed by greater financial freedom; maximise the situation to your advantage to be future ready.
Marriage comes with responsibilities which includes managing family finances. For most people, marriage results in change in their financial circumstances and sets them on a course of major financial decisions that impact their future. Disagreements over financial matters has been the cause of several marital discords. To ensure you do not fall in a similar situation, test your financial compatibility and set ground money rules in your life after discussing with your spouse. Do not let the money conversations ever be one-sided.
Do not leave it for your spouse to handle money matter all by themselves. Be involved with finances; this will not only give you a sense on where you stand, it will also help ensure you both fully understand the situation in case of an emergency. For many, marriage is the first rude shock of waking up to financial consciousness—a step away from their carefree bachelorhood. They are no longer financially answerable to only themselves, which one must realise.
The change in relationship status is also opening to a world of realising financial goals and aspirations; the biggest financial decision of their life, buying a house, happens when they are married. The thought of having children and then getting into planning for their financial future, just the way your parents worked towards yours, could be daunting.All of these are easily achievable, if you follow the planned path.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Gold ETFs And FoFs
While Indians love to invest in physical gold, even mutual funds offer the option, but in paper format.
PLANNING TO BUY CHILD INSURANCE? THINK TWICE
Child insurance plans combine insurance and investment but often offer low returns due to high costs, making a combination of a term insurance cover and mutual fund a better option for securing your child’s higher education needs
How Do You Define Happiness?
Money does buy happiness, but after a while, the appeal fades. We talk about our relationship with money, but, maybe, it’s time to revisit our relationship with happiness
Avoid Crypto As It Is Highly Volatile
I am 22 years old and have recently started working. I want to invest a small portion of money in cryptocurrency. How should I go about it? Does it require a huge capital investment?
Invest Right, Don't Speculate
The lure of high returns and quick gains from equity tips, cryptocurencies, and equity F&O can be enticing. But remember, return of capital is more important than return on capital
The Wedding & Budget: Is Minimalist Trend The Right Knot For You?
Indian weddings are known for their pomp and grandeur, but minimalist weddings are also in vogue now. Dia Mirza was one such celebrity who went for a minimalist wedding. If you also want to keep things minimal on your big day, here’s how to do it
Here's How To Buy An ETF?
Mutual funds are the preferred choice for retail investors. However, they come at a cost and fund management risk, apart from other risks. A smarter alternative is to invest through ETFs.
How Passive Funds Help Diversify
Passive funds provide a simple way to invest in broad markets as well as in specific themes and sectors, making them ideal for an investor's satellite portfolio
The Rise Of Passive Funds
The popularity of passive funds among retail investors has risen post Covid, and fund houses are out with many variations of ETFs and index funds. Does this category present a new opportunity for investors?
Tax Reforms: What's In Store?
The government is working on reforming the existing Income-tax Act, 1961. The impending reforms have raised many questions in the minds of taxpayers. Will the old regime and deductions be done away with? Will it really simplify your life? What's the need for these reforms? We try to answer these and other questions regarding tax reforms