The Money Side of Marriage — Managing Debts

honeymoon is over, and now it is time to nestle in for a lifetime together. While there is bound to be plenty to argue about during the integration phase of things, one of the most challenging issues that a lot of couples face is having to make sure their finances mesh well together. After all, you both used to function independently, but now you are going to have to work together. You might both already have some debts that you are struggling under, and let’s face it debt stinks, especially when it is for things that you are not even able to enjoy anymore, like a meal you ate a couple of months ago.

When you get married, you tie yourself to both the good and the bad parts of your partner. If he’s got a bit of a belly on him, or if she went a little crazy with the credit cards, you signed on for better or worse — and for life. So at this new beginning, you have a few options for making things better. For one thing, you can stop getting traditional credit cards if you just can’t use them properly. A far better option for you might be prepaid credit cards, which will allow you to simply put money on them, and spend it as you will.

This way, you do not have to contort your lifestyle too much, or try to turn yourself into a tightwad (you either are one or you aren’t). Along with automating your budget, bill payments and investing, prepaid credit cards can be a good way to even things out and start a process of very smooth sailing together. After all, you have plenty of other things you can fight about, like what color the curtains should be. Don’t make your fights turn into dueling debtors, because nobody is ever going to win a fight of that kind.