Marrying someone you love is one of the happiest memories you could ever had, but what if both of you don't have stable job?

I'm one of the avid reader and listener of Boiling Waters. Do you know Boiling Waters podcast segment in Spotify? I have been listening to them since mid of 2020. I really like their topics because commonly it is a problem of young adults and teens.

So previously, I saw one of their topic which is 'Do couples need to be financially stable before marriage?' I know some of you are married and have children already or planning to get married this year or later. But, do you ever question about being financially stable before getting married?

I am NOT an expert in financial and counselling for couples. What I will write here is solely based on my opinions, experiences, and observations throughout my existence. So do not take it wholeheartedly, but I'm open to what your response is.

Based on the question I have in my title, my answer is YES. Personally, we need to be financially stable before getting married to prepare our finances, funds and future neees of the family. So what are my reasons?

1. Financial Stability

Stabilizing our finances before marriage is very important because we are getting married. Wedding ceremony will cost you a penny, and it's not FREE. You have to fund for your wedding bill. For gown, tuxedo, foods, rental car, reception, invitations, bouquets, accessories, and honeymoon experiences. There are a lot of bills for it, and where do you get money for paying all these bills? It's from you and your partner's pocket. Lucky you if you have sponsorship from friends, families, and relatives.

What to do to stabilize my finances?

• Control yourself from impulsive spending. You don't have to go out with friends every week to eat and to shop. Most especially when you know you only have enough money to pay bills and support your family. Uninstall shopping applications as well if it is the cause.

• Secure an investment. We don't work for life and we are not sure if the company we are currently working will be standing for a lifetime. Getting a job is becoming harder nowadays, and start doing an investment. Thus I know you do, there are a lot of investment company, but we still prefer controlling our own funds through crypto coins and tokens.

• Analyze your own income monthly. I think this should be done by working people. Analyzing your salary and expenses will help to create better financial management.

2. Financial compatibility

Yes, financial compatibility is worth to know before getting married. Both couple must be involved in their daily expenses and management process. I believe you don't have to that compatable, but just enough to sustain the bills at home.

I have seen my parents struggle so much when one of them is not earning. The balance between our finances broke and what else happen? Of course, we have to borrow and loan money to fill the gap in our expenses. And that is not good!

3. To minimize stress

Why did I say that stabilizing our finances is minimizing our stress? I observed frequently that when someone in the family doesn't have money, they have a shorter patience than usual. I know it doesn't only happen in my family, but to you as well.

It is indeed stressful when you have no money to buy foods and cannot afford to pay for the needs of your children. When I was young, when I was asking my mother to buy me a Chuckie choco drink, and she has no penny. She was mad at me. You know the pattern when Filipino doesn't have money, they are stress and impatient. Kidding aside.

Financial style is more important than our earnings.

Even though you are earning huge, but you have no financial management. It is no use. You cannot save money. You cannot invest. You cannot support all your funds later on. Balancing your spending and saving is very important before getting married. You have to know, understand and experience it because you are building a family. You will have kids to support, bills to pay, and some emergency bills.

I want to remind you that if you are planning to build and get married in a very young age. Do not be too exaggerated having a family and kids. Create a plan. Secure your finances. Above all, develop yourself. It's fun and amazing to be tied to someone we love, but planning and financing is still needed in married life.

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Blog #23
2/18/22