There are many types of mistakes newlyweds make about money – but what are some of the most common and most important ones? We have gathered some of them in the following list so make sure to check it out if you want to avoid making these mistakes too:
- Not discussing your finances. This is by far one of the worst mistakes newlyweds make about money – and something you should absolutely avoid doing. Communication is the key to any successful relationship and money matters make no exception from the rule. Talk things out and make sure you are both on the same page when it comes to your finances.
- Not saving. Yes, it might be easy to say that you will start saving “next month” – but the truth is that something unexpected (and costly!) might strike at any time. It is much better to have some money prepared than to borrow them or to use your credit card when it comes to these situations.
- Not paying off the wedding debt. We all know weddings are very expensive – but you should still make sure that you pay yours off so that you can actually “sleep well” at night. Make a plan to pay it off and stick to it until the end!
- Not having a plan. As a newlywed couple, you should make a plan not only when it comes to paying off the wedding debt, but also when it comes to the other costs you may encounter too. Create a budget, set some targets and make sure to stick to them!
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