5 Hacks for Navigating Marriage and Money: Don't Let Cash Cause a Clash! #Marriage #money

#marriage #budgeting #money

5 Hacks for Navigating Marriage and Money: Don't Let Cash Cause a Clash!

Whether you’re a newlywed or have been married for decades, navigating marriage and money can be tricky. We all know that communication is key, but some of us don’t exactly know how to communicate. This is especially true with the topic of money, which is (sadly) often taboo.

I recently stumbled across some disturbing trends uncovered by Fidelity’s Couples Study that proves this is true: 48 percent of couples are unaware of how they’ll continue to afford their current lifestyle in retirement. 47 percent aren’t sure how much money they’ll need in retirement. 60 percent are lost when it comes to how much of a paycheck they’ll receive from Social Security.

The headline “American Couples Worrying More, Planning Less” doesn’t seem to make sense, either. The best way to alleviate worry is to create a plan, which is illustrated perfectly in Fidelity’s study. Couples that had a retirement plan in place had more overall confidence in their ability to retire, but only 21 percent of couples surveyed have bothered to create one.

Not surprisingly, the advice of the couples who were surveyed was to start saving for retirement early on, and to make joint financial decisions. How can you do that without a plan? We are here with some tips.

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#marriage #budgeting #money