March 28, 2006

Money is a Life Skill

For most of us, money is a difficult subject to talk about. It's too personal and tied up with all sorts of emotional baggage.

Still, sometimes we must; for example, before getting married.

even among the most compatible couples, the prewedding vow of personal-finance silence eventually leads to frustration, fights and power struggles.

The Wall St Journal has nine questions partners should ask each other before they take their vows.

1. What are your financial assets and liabilities
2. How do you use debt?
3. What is your money history?
4. Do we need a prenup?
5. What are your financial aspirations?
6. What are your career expectations?
7. How do you propose we divide financial duties?
8. Will we operate from one checkbook or three?
9. Do you have a basic understanding of money?

"Money is a life skill, like swimming," says Ms. Schwab Pomerantz. "Both of you need to know how to swim, because life is full of stormy seas."

Posted by Jill Fallon at March 28, 2006 2:49 PM | Permalink