8 money tips for those planning to get married - rediff
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8/2/2019 8 Money Tips for Those Planning to Get Married - Rediff
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8 mone tips for those planning to get marriedLa daed : Decebe 6, 2011 06:37 IST
Planning to get married in 2012? Here are eight things ou
must know before ou sa 'I do'.
I i aid ha aiage ae ade i heae ad ceebaed
eah. Thi a beief i e ice i i a ecia bd haed
beee , h ie he eddig afe iig
be cai f a ifeie. I big igifica abii ad
b ace ha eaihi . I a a ccia e i
afeig he ce ad ciiiai f e geeai he
he, ha he ha ace e. The iii f
aiage i beeficia he cie a a he, becae i i he
fdai f he fai, hich i i he fdaea bidig
bc f he cie.
O fiacia f i i e igifica ha bh idiida di c
he fiacia eibiiie a aiage i 'We' ad 'I'.
He i aa he be ic, eecia he i ce e aagee i a aiage.
Me i e f he bigge dicd ag eed,
eecia i big ciie. Pbe f edig ad ieig a 'I'
ag aied ce iead f 'We' i e f bigge be
behid iee decii . I baica aie f ac f cicai. Tha' h i bece ch e
igifica a dic ig ab e ae e i adace befe aiage ie f.
M f he ie -be-aied ce d' cicae hei iee decii de eigh caiai.
I addii, idiidai i ceeig i ea fiace hee da ad ce ae eadfa efig
hae hei fiacia ifai ih each he. I' beieabe b e. If I ea, I hae a he igh decide hee I
ed (fge ab iee) i he eaig. Shaig aa deai, aa b , cedi cad ii ih ae i a
abe -. F he, i' giig he e ace i e ae. I he, igace i he bi he i ce
each he' fiace.
Ni f idiidai ad fiacia ideedece cd defea he e e f d fiacia aig. If e de' ha he he i dig i h he e i ca be dia . Hidig e hge deb i a eie e f he
ea hae fiacia ifai i h ae. B he fe fge ha e eed fid i he be
ad aggaae i.
I addii, i i igifica ce e ih fiacia eai afe aiage. Sige ice ca ce dbe, b
ca be deb; big ae a bece eaie, b iace iabii cd iceae; edig aig habi
cd be dia i ach, b g e ga a be ae. I e cae, e ca be ea f a he
aia dicd.
Courtes: Investment-mantra.in
8 mone tips for those planning to get marriedLa daed : Decebe 6, 2011 06:37 IST
1. Get read to share responsibilities
Me aagee i a aiage i ab haig a ic dic i ih each he ad he e e caig he
ba f he ce. I ie bh aie ig gehe ad haig eibiiie ea. F eae, bh hbad
ad ife eed ae a i deci i-aig, bdgeig, ad bi aig.
I addii, if e ibiiie ae' diided ad ehig hae he "fiacia" e, he he e ca be ef
cee . Bi a g aid, deb a accae, ad ha ce a a id fiacia ii ca deeiae aid. I
he iee f eeig ad e' efae, ae e each f i aae f eie fiacia ice ad
i i chage f aagig a i f i.
Mae e ae ead gie 100% aage fiace i a ia a. P f eff i he fiacia
ae f aiage. If ae giig ece each ie g a edig ee ae big ff bdge,
ae giig 100% aiage ef, ad ha aide i ce bac ha . T e a a
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8 mone tips for those planning to get marriedL : D 6, 2011 06:37 IST
2. Be open about our financial health and
spending habits
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8 mone tips for those planning to get marriedL : D 6, 2011 06:37 IST
3. Do frame a budget, baseline the goals
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en o inance pemim and go on o malle
one ch a goce , ili o cedi cad bill. A
bdge ha inclde acking o pending i onl
a o kno hee o mone i going. I ill make
e ha ha if o need o ae moe o achiee
o goal, o c don on o pending.
8 mone tips for those planning to get marriedLa pdaed on: Decembe 6, 2011 06:37 IST
4. Work out implementation strateg
Thi i he mo ignifican apec of financial
managemen fo nel ed. Shold one mege he
finance? Who ill make e he plan i on ack?
Thi depend on ho cople an o plan i o.
Thogh one can eain hei indiidal accon omanage indiidal epene , a join accon fo
hoehold epene, inclding goce o ili bill
i ecommended. Alo a jo in accon fo emegenc
fnd o pao fo pemim can be conideed
heein a pecified amon can be depoied each
monh. Thee i a fleibili o opeae in cae of each
ohe' abence. Boom line i ha he cople
hold be comfoable managing hei finance.
Een if one pane i financial l a, i doen'
mean ohe one hold emain in dak. Boh he
mem be hold be aae of hei inemen aene, aing and epene, mode of anacion, paod, de
dae fo pemim , bill ec. Thi ene ha in cae of an eenali, o ae no cle le abo o inemen.
8 mone tips for those planning to get marriedLa pdaed on: Decembe 6, 2011 06:37 IST
5. Evaluate our insurance needs
Befoe maiage and iho dependen, an indiidal can do ih elaiel mall inance coe hen afe maiage,
epeciall if o ae he ole eaning mem be of he famil. So a em li fe inance i ciical. Yo coe hold be enogh
o pa o o oanding loan o ha o poe in' bdened b i. Ideall o hold hae 10 ime o annal
income a life coe. Upgading o healh inance i alo ignifican. Een if o ae ined b o emploe, i i
adiable o b a epaae polic. On an aeage a combined coe of R 5 lakh fo a cople ill be an ideal one b again
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i depend on ohe nmeo faco.
6. Kno about taation benefits
A a maied cople, one i eligible fo high home loan
and boh can claim a dedcion on epamen. A join
home loan offe a benefi of R 1 lakh each nde
Secion 80c of Income Ta Ac (fo epaing he pincipal)
and addiional R 1.5 lakh each on he inee
epamen nde Secion 26.
7. Take care of documentation changes
If o go fo a name change afe maiage, ene o
indlge in necea papeok. One of mo ccialaleaion inoling name change i PAN cad change,
beide pa po , KYC , bank accon ec. Adding
ife' name in all eiing inance policie and
inemen on' be a bad idea.
8 mone tips for those planning to get marriedLa pdaed on: Decembe 6, 2011 06:37 IST
8. Put emergenc fund in place
Life come ih no gaanee. So een if boh ae eaning ell,
i doen' mean o canno be alaid b an acciden o an
illne. Be pepaed fo ch eenaliie and a aing fo
emegenc fnd, hich hold a lea ah a lea 3-6 monh
oh of epene.
In nhel l, oking oad a common goal can make hing o
mch eaie fo o and o pane. 1+1 = 11 emembe. Make
a conolidaed ecod of inemen. Fo inance, ee imeo SIP i eeced make ha en in he file. Deail of
inance policie -- amon of life coe, ene, pemim and
polic nmbe, fied depo i, PPF depoi, bond , bank and
dema accon nmbe hold be cleal menioned. Dic
o inemen, loan, epene and bdgeing. Idea i o
conolidae financial pofolio of boh o a o complemen each
ohe' inemen.
Conolidaion baicall lead o doing aa ih he dplicaion
and b-opimal e of ineible pl. Hband and ife can
gain baniall hen he combine hei financial foce. The
ae able o manage deb bee, b a bigge life coe fo
hemele and m o impoanl hae moe ineible pl .
Hamon in finance ill definiel help pend bee, e ine
moe and aoid dplicaion.
Summar
Maiage and mone can be ick, b he be hing o can do i o be open and hone. Sa off on he igh foo b alking
abo mone managemen and coming p ih a olid plan o deal ih bdgeing, pending, and ineing. The oone
o do hi , he bee. If o fom good mone managemen habi a a nel maied cople, o'll be able o ok a a
eam hogh haee life ho a o fo man ea o come. Planning a 'We' i alo ignifican a o aae of
inemen made if one of hem m ee an nimel deah. Thogh nohing can be moe amaic han lo of dea one
b hee can be financial epec ion oo if ha peon ha olel handled all inemen. Someime e end o be
dioganied ih o inemen a e hink ha nohing can happen o .
So i' high ime e ndeand he ignificance of 'We' o a o lead healh financial life.
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