Financial lessons for the newly married
The Economic Times If you have exchanged vows recently, you would need to rejig your expenses and savings structure. Here's how you should go about it. Now that both of you have decided to take the plunge, among the various angles that you should look at, there is one more that both of you should consider jointly: your finances. As you move from the ‘single stage’ to the ‘double income no kids’ stage, it is important to note that your priorities, incomes, expenses and savings will all change significantly. (This article addresses the couple where both are working). There are certain strategic and the tactical changes that you should consider and prepare for. Change in milestones: One of the pillars of financial planning is identification of milestones. When you are single, milestones are determined by your whims and desires. Talking to each other about your financial milestones will reveal how significantly different your ideas might be; and this will set the stage for a