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My Biggest Financial Mistakes (#1)

I have made plenty of mistakes with my finances over the years. And I’m sure I’ll make some more. I classify some of them as “big mistakes” because they could have been avoided without much effort.

Not Knowing My Husband’s Financial Situation

When my husband and I got married, I never thought to ask about his financial situation. I knew my financial situation didn’t look that great but he always looked like he knew what he was doing with his money. He never seemed stressed out about his money, so I figured he had it all under control. When we talked about getting married and combining our finances, all we talked about was combining our salaries. We were amazed out how much we would be making together. We thought we would be living the life of leisure. The life of leisure never happened. Between our credit card bills, his student loans, and other various small debts, we were so strapped that some weeks we didn’t know how we would buy groceries. We walked blissfully down the aisle thinking everything would be just perfect. We had no idea how NOT talking about finances can cause tremendous problems.

Are you in a rocky financial situation?

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My suggestion for you:

If you’re about to enter a committed relationship, NOW is the time to talk about finances. Plan a strategy for finances BEFORE the big day so neither of you will be caught off guard. If you’re ready for a long-term relationship, you should be ready to divulge everything about your finances.

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Posted 27th April 2009 at 10:10 am

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