Money Talk: Saving Beyond The Wedding

So your Significant Other popped the question, you said ‘yes’, and now you’ve both started planning for the wedding and honeymoon, and working out finances. But, what about all the other aspects you need to look into after the big day? Figuring out where both of you will live and pay your bills is just as important because it is the rest of your lives! Shihaam Hassanali is all set to show you exactly what areas you need to focus on to ensure you and bae have sufficient money to live a comfortable and happy life.

We get so wrapped up in the nitty gritty of planning the wedding, that often, we don’t remember that it’s all for just one day. Months of preparation and many thousands of rupees later and the big day is over before you know it. But, this is not to say you shouldn’t put all your time and energy into your big day. After all, this is yours and your partner’s wedding so do it just as you’d like! But, it’s important to also plan how you will manage your money post-wedding.

You’re no longer making decisions for yourself; you both need to factor in each other’s opinions first. Before getting hitched, it’s always best to have an open conversation with each other to discuss topics like where you will live, how you will manage your finances and how much money both of you need to set aside to meet monthly expenses (think rent, utility bills, food, furniture, travel, and entertainment).

You’ll also need to divulge just how much each of you brings to the table (if you haven’t already). Depending on who brings in the lion’s share, work out fair percentages to contribute towards a joint account. It may well be a tough conversation, but it will go the distance when you begin your new life. Here are a few things to consider when slotting in where your money may go.

WHERE THE HELL ARE WE GOING TO LIVE?

You and your hubs-to-be need to decide what your living arrangements will be after getting hitched. If you’re hoping to rent out your own place to live on your own, then it’s safe to say that this will be your biggest expense.