Marriage & Family Archives | Page 72 of 80

You Need To Answer These 6 Essential Money Questions Before Getting Married

1. HOW DO YOU SPEND?

Your future spouse’s spending habits is one of the most important things that you must uncover. Whether you are a saver or a spender, your spending habits can influence the growth of your wealth. Discuss your this matter while keeping an open mind. Then, brainstorm on how you can blend your distinct spending habits in order to manage your wealth as a couple.

2. ARE YOU SPENDING A LOT FOR YOUR WEDDING?

Some people dream of lavish wedding ceremonies while otherS prefer simple gathering. As a unified couple, plan how much you are willing to spend on your wedding day.

If you want to save money, schedule your big day during off-peak months. Usually, getting married in “off-peak” months such as November, March, and April can be less expensive than marrying in “peak” months such as December and February. Save even more money by scheduling your honeymoon when the hotels and resorts are off-season.

3. DO YOU WANT TO HAVE A PRENUPTIAL AGREEMENT?

Even if we live in the most expensive city in the world where finances shall be carefully planned, do not assume that your fiancé is comfortable with pushing through a prenup. A prenup may suggest lack of trust in one party as you are planning for unforeseen divorce. Aside from this, talking about monetary and property division can make the marriage sound more like a business matter. Truly, this is a sensitive subject matter that should be handled with care, love, and honesty.

4. DO YOU HAVE EXISTING DEBTS?

To prevent unforeseen monetary issues, understand each other’s view by explicitly discussing your differences on financial issues. For honesty’s sake, show a copy of each other’s credit report. Know what your debt and income are actually worth so that you can realistically plan on how to pay for the remaining debt. Your partner’s lack of credit history will reflect on your credit score if you combine accounts.

5. SHALL YOU OPEN A JOINT ACCOUNT?

There are undeniably advantages and disadvantages to opening a joint account but it all comes down to your spending habits. Discuss whether you want to open a joint account solely because of the household bills or your emergency fund. Having a separate bank account is acceptable but, you have to tell your spouse about it.

6. HOW WILL YOU PAY THE BILLS?

Do not assume that your future husband has got all the bills covered for you. Instead, you must openly discuss how you will split the bills. If you come from a multiracial background, it is better to understand money with respect to each one’s culture.

Image Credits: pixabay.com (CC0 Public Domain)

Keep in mind that your goals are the same – to efficiently spend and save as a couple. As a team you may utilize your partner’s credit card to make use of the grocery rebates while the other takes care of the grocery shopping itself.

Sources: 1 & 2

5 Ways To Score The Cheapest Wedding Dresses In Singapore

One ensemble that enhances the glistening bride is the dress itself. Shopping for wedding dresses in Singapore can be difficult, especially if you pay close attention to the price tags attached to it.

This is why it is important to keep an open mind when shopping on a strict budget. Consider the “5 Ways Score Cheapest Wedding Dresses In Singapore” as a starting point:

1. RENT YOUR DRESS

If you are feeling guilty on spending thousands of dollars on a piece of clothing that you are bound to use once, why not rent your wedding dress? Renting your dress does not mean that you have to give up your envisioned design nor do you have to wear something that does not fit.

In fact, you can wear gowns from internationally acclaimed designers like Rosa Clara and Pronovias with Blessed Brides‘ renting services. They also have a wedding package that will save you a lot of money. And if you have a fixed budget for your dress, consider Dream Wedding‘s rental services that starts from S$99-399. This budget prices aim to bring you quality wedding dresses at really affordable rates.

2. SIMPLY YOUR EXPECTATIONS

Since materials such as embellishments, laces, and beading cost more, purchasing a plain and classic dress can lower the price tag significantly. With a simpler dress, you are given the freedom to go BIG on the accessories.

3. WAIT FOR SALES

If you have the luxury of time, you can wait until the annual sales or wedding events happen before you buy your dress. For example, Blessed Brides’ previous “End of Season Clearance” sold dresses from S$199-1,399. How is that for a bargain?

During the sale season, you can not only buy a gown for a cheaper price but also negotiate for a lower price. Do not feel embarrassed while negotiating as your future husband will appreciate that you saved more in the end.

4. FIND THE PERFECT FIT

When looking for the right dress, consider finding dresses that fit you perfectly. Since changing the shape of the neckline or adjusting the sleeves can cost you up to S$300, you can save hundreds of dollars in alterations by buying a dress as it is.

5. SHOP ONLINE

In order to score good deals at your home, you can try shopping online. Many gowns sold online come at a cheaper price simply because the overheads for websites are usually lower. While you are it, explore the shops at countries with lower production costs.

Image Credits: facebook.com/Blessed-Brides-Bridal-Evening-Prom-Gowns-117642394921072

Sources: 1, 2, & 3

Married With Benefits: 6 Financial Advantages Of Matrimony

Just as much as money crumbles relationships apart, it can also bring two people together.

As you settle down to the married life, here are some of the financial benefits matrimony can bring:

1. CHEAPER HOME EXPENSES

It takes no doctorate degree to realize that it is cheaper for two people to live together than to live apart. When living together, you are consolidating a singular mortgage or rent expenses. Not to mention, married couples enjoy the advantage of sharing the responsibility for the utility bills. Thus this arrangement can save you hundreds of dollars each month.

2. DOWNSIZED FURNITURE AND APPLIANCES

When married couples move in together, they get to keep some of their old furniture and appliances as they only need a set. Having one set of furniture and one set of appliances will reduce your maintenance costs.

Image Credits: facebook.com/damianwidowskihome

To make more money, you can sell your unused or underused furniture and appliances that are still in good condition.

3. INCREASED FINANCIAL STABILITY

It is easier to cope with the financial woes if you are married. For instance, if you get fired from your job but your spouse is still working, your partner’s income can support your family for the meantime.

4. PROTECTION OF THE ESTATE/S

If you are married, you can protect your partner’s properties and other assets once he or she dies. First, you must get the Will and contact the executors to ensure the smooth distribution of the estate/s to you and other family members. Then, you need to formally transfer the assets as well as the investments to your name.

5. IMPROVED RESOURCES TO PAY OFF DEBT

It is often challenging to pay debt with one income. By combining your income and your spouse’s, you get to expand your resources and increase your savings. Budget your combined income to pay off your credit card debts and other loans.

6. BETTER FINANCIAL ADVICE

In respect to your marriage, your spouse is supposed to know about your spending patterns and your cash flow. Aside from the financial expert, who can you turn to for reasonable and empathic financial advice other than your spouse?

Image Credits: pixabay.com (CC0 Public Domain)

So when making important money decisions, it is best to reach an agreement with your partner first.

Sources: 1 & 2

6 Quick And Easy Fixes To Maintain Your Happy Home

Did you know that you can solve your household problems without calling for backup and paying expensive service fees? If you do not believe me then, you may change your mind as you try these 6 simple and inexpensive home maintenance tips:

WALLS

1. PEELING WALLPAPER

To fix a peeling wallpaper, you must apply wallpaper paste or wallpaper adhesive on a paint brush. Cover the entire wall with it especially the ends. Smooth everything down with clean hands or a roller. You may purchase the Eliane Extra Strength Wallpaper Paste (250 g) for S$25 at Korean WP.

2. HOLES IN THE WALL

Fixing the holes in the wall differs for large and small cracks. For larger cracks you will have to cover it up with wall filler or spackling compound that is available for about S$5-7 at the hardware store.

While, to fix the white wall blemishes that are smaller than 1/4 inch wide, try covering it up with plain toothpaste. Put enough to fill in the whole and scrape off the excess with a knife.

FLOORS

3. RESTORING ITS SHINE

To restore the luster of flooring, you must polish them after they have been mopped. Use microfiber cloth or clean cloth diapers to get the job done while skipping too much cleaners.

4. UNEVEN WOODEN FURNITURE AND FLOORS

To avoid sanding the whole floor or table to smoothen it up, try this simple solution. Spread a wet towel over the scratched or uneven area then place a hot flat iron on the top then move it in a circular motion for 3-5 minutes. Color it with varnish afterwards if you want.

DOORS

5. NOISY SLAMMING DOOR

Who else hates the loud slam of doors aside from me? Thankfully, you can soften the blow by placing a rubber band around the doorknobs on both sides. Do this without covering the latch.

6. DIFFICULT SLIDING DOORS

To smoothen the move of the sliding door, you must clean the debris that are jammed within the track and the wheels. Clear it all by running a paintbrush or vacuum along the track.

BONUS! LIGHTS

Image Credits: pixabay.com (CC0 Public Domain)

Save money on light bulbs by replacing it only when the time is right. It is appropriate to change the bulb if it overheats, spoils, and overspends (having high-energy consumption). Also, you must replace the bulb if its color and power are not enough for the to accomplish the tasks in a particular room.

Sources: 1 & 2

5 Major Money Lies That Can Tear Your Relationship Apart

The fundamental basis of marriage is trust. And when one or both parties breached that trust, it harms the relationship. As family law attorney, Steven Mindel once said: “Financial infidelity is the root cause of many crumbling unions.”

Prevent this crumbling from happening by knowing the 5 Major Money Lies That Can Tear Your Relationship Apart:

1. “IT IS JUST S$60!”

One of the most common financial lies that people are guilty about is lying about one’s spending. Instead of admitting that you bought a S$68 dress, you would round off its price to S$60 as it seems easier to accept.

I have to admit, I had done this a couple of times during my teenage years. I just did not want to tell my mother the whole truth due to the irrational fear of her getting mad at me. Applying the same childish notion to your marriage does not build a mature relationship! It is an unfair approach to spending the money that you both worked hard for.

2. “I ONLY HAVE ONE BANK ACCOUNT!”

Another financial infidelity case that experts see most of is hiding a secret stash. Having a separate bank account is acceptable but, you have to tell your spouse about it.

According to Nancy Butler, a certified financial planner and divorce financial analyst, one of the telltale signs that your partner is guilty of this offense is when you received a bank statement for an account that you did not even know existed.

3. “I PAID THE BILLS ON TIME.”

Sometimes, work and home stress can consume you to the point that you forget your responsibilities such as paying the monthly utility bills. To avoid confrontation, you immediately said that you settled everything already. By doing so, you can experience damage to your credit history as well as penalty fees.

4. “ALL OF MY MONEY GOES TO US.”

Growing up in an Asian household where family is one of the top priorities, it is hard not to help a family member in need. It is hard to be in a situation wherein you are thinking of your financial health while feeling responsible for that of the others.

These type of lie may come from the people who hate lying but they do not know how to handle the situation.

5. “WE ARE ABLE TO AFFORD THIS DEBT.”

In most cases, going further into a pile of debt is never a good idea especially if one of two parties is not even aware of it. Keeping your bad credit score or debt history from your spouse may lead him or her to taking on more credit. Instead of purchasing a home within your means, your partner goes beyond it due to the assumption that you both can afford it.

Image Credits: pixabay.com (CC0 Public Domain)

Telling your partner that you already have a budget for your debt is only misleading you both.

Sources: 1 & 2

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