The idea that opposites attract might make for great wedding toasts and tales. But when it comes to money management, newlyweds who share the same approach to money are less likely to see their marriages end in divorce.
In fact, research done in 2012 at Kansas State University revealed that arguments about money – regardless of couples’ income, debts or net worth – is the most significant predictor of divorce.
In honor of Valentine’s Day, KeyBank offers newlyweds the bank’s best wishes for a long and prosperous union and some suggested steps to help couples make confident financial decisions:
To debt do us part, and other unromantic topics
Ideally, newlywed couples make time to talk through their personal financial situations before wedding bells ring so there’s no post-ceremony reveal about each other’s financial situation.
At the very least, couples need to come clean about any outstanding debt they bring to the marriage, and their specific plans for paying down that debt. Failing that, however, newlyweds should still make time post festivity to talk through finances.
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