Premarital Financial Planning Part 1: Key Considerations and Conversations

The Budget Savvy Bride

Are you ready to bring it all together? Here’s where the rubber hits the road, the dreams start becoming a reality, where you realize your destiny… okay, okay. I’ll give it a rest. But let’s get excited!

As a quick reminder, here’s a bit about me: I’m Adam Kol, The Couples Financial Coach. I help couples navigate sticky money situations together, whether they’re combining finances or not.

Premarital Financial Planning Part 1: Key Considerations and Conversations

As you work on this, have a conversation about financial freedom. Many people define it in terms of things like: Early retirement Passive income Freedom to say yes or no to a job Free time to do what they love or be with the people they love The ability to go to the store without having to worry about sales or coupons

Creating a Joint Vision of Financial Freedom

To make a solid plan, the key is to understand the interrelationship between your: 1. Income, 2. Expenses, and 3. Priorities/goals. As the difference between your expenses and income increases, you have more money to put toward your goals, which means you can achieve them faster.

Add structure and clarity to the expenses by separating them into different categories/buckets. Groceries Dining & Entertainment Health & Wellness Household Phone & Utilities Rent/Mortgage ...

Getting Specific

You may feel nervous dealing with concrete numbers and objectives and the possibility of failure. You may feel restricted by having a budget. This is also very normal; just notice your thoughts and feelings around it and try to understand them better. If your motivation dips, recall what’s possible for your relationship and life if you can rock your finances.

The Feels

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