Originally Posted On: https://www.iquanti.com/
Making the decision to propose is a big deal–both emotionally and financially. If you’re thinking about popping the question, there are a few personal and financial considerations to take into account before taking the plunge.
1. Make sure you feel ready
First and foremost, ask yourself if you’re truly ready for marriage. The process of going through a proposal, settling down, and building a life together is not an easy one and shouldn’t be taken lightly. This is a lifelong commitment, so be sure that this is what you want before taking any further steps.
2. Discuss your finances
Next, consider your financial situation. Will you be able to support yourselves as a married couple? Do you have any major financial goals or debts that need to be taken care of before getting married?
It’s a good idea to enter a marriage with an understanding of your partner’s financial status. Things like debt, retirement plans, and savings may be mingled after your vows, so it’s best to discuss them before it’s official. You don’t want to propose to someone and find out later that they have tens of thousands in debt.
3. Discuss your approaches to money
It can also be a good idea to discuss your personal financial philosophies. Do you want to merge your finances or keep them separate? Do you tend to spend or save? Where does your partner fall on that spectrum? It’s important to talk about how you both handle money and, if you have radically different approaches to your finances, whether you can compromise.
Talking about money can be tough, but it’s an important conversation to have before getting married. By being honest about your finances and setting realistic expectations, you can start your marriage on solid footing–financially and otherwise.
4. Figure out Insurance
Similar to discussing your finances, it can be a good idea to get on the same page about insurance. If you get married, you’ll have the option to add your spouse to your employer-provided health insurance policy. This can be helpful if one of you is uninsured or if one plan is preferable to the other.
If you have an employer-provided life insurance policy, you may want to consider making your partner a beneficiary. If you don’t have an employer-provided policy, or if you just want more coverage, it can be a good idea to purchase a life insurance policy. This will ensure your partner is financially taken care of if something happens.
5. Decide what you want for the future
An important aspect of sharing life together is having similar lifestyles and wanting the same things. Where do you want to live? Are you both on the same page about having children? What kind of vacations do you like to take? It’s important to have these discussions before you commit to each other.
6. How you’ll propose
Finally, when you’re ready to propose, make sure you do it in a way that’s personal and meaningful to your partner. There’s no right or wrong way to do this–just make sure it comes from the heart.
There’s a lot to think about before proposing. This is an exciting time in your relationship. Just be sure to take your time, make sure you’re both on the same page, and do what’s best for you and your partner.
