9 ways to use credit card properly!

Marriage may not always be the culmination of love, depending on who you ask. However, if a couple can make astute financial planning the bedrock of the relationship, it becomes easier to handle the various curveballs in this unpredictable world. To begin with, both husband and wife need to be open about financial matters so that they do not encounter any unwanted surprises and can tackle any unforeseen situation. It is important for both of them to work together to maximise the efficiency of the combined income sources and assets that are available. Managing money as a couple is a different ballgame and both husband and wife need to be on the same page.

Financial discipline is the key to ensure that expenses don’t spiral out of control. If regular expenses are budgeted for in advance, the likelihood is lower that neither feels the other is taking advantage.

Once two people are married, it is also important to assess the need for insurance. Lack of communication often becomes the main point of discord. So, it is important to talk about what financial goals each person has for himself/herself individually and what expectations they have jointly as a couple.

Embark on the beautiful journey of companionship by being prudent in money matters. Money cannot buy happiness but can definitely ward off unnecessary quibbles. Build a financial plan and work towards ensuring that it does not only remain on paper. Also, do not ever hesitate to take the help of an expert.

There are a few basic rules that one should follow. It is a prudent practice to include the names of both in all investments and operate them preferably in the “either-or survivor” mode. The reason is that in case of any unfortunate eventuality of one of the individuals, the surviving spouse does not face any avoidable paperwork to claim the investments. Also one should mention nominees for all investments even if they contain the names of both.