Wedding Planning and Budget Basics

Financial Questions to Ask Your Spouse Before the Wedding

Are you a spender? Is he a saver? Here's how to work out your financial plan now.

Silver gift boxesDebra McClinton

13. Do you track your finances? How: by computer or paper? And how often?

You’ll want to be sure that your partner is on top of his finances and knows how his money is growing―or not. Finding out if he does it by computer or on paper just tells you how he likes to organize his accounts. These days, Internet banking is popular, so it would be good if at least one of you is comfortable with online banking.

14. Do you save paycheck stubs?

Saving paycheck stubs is helpful in keeping track of and verifying your income. You may also need them to show a prospective mortgage company if you will be buying a home together.

15. Do you have health insurance?

Insurance protects your new family financial situation in case of illness. Compare who has the better insurance plan. The person who has the best benefits should consider putting the other on his or her policy after the wedding.

16. Do you have life insurance?

You both should have adequate insurance, especially if you plan to have children. In the unfortunate event that something happens to either you or your spouse, your family will be taken care of financially.

17. Are you aware of all your benefits at work?

It’s important to know the benefits that your job offers you. If you don’t, go to your human-resources department to find out what you qualify for and make sure you take full advantage. Even discounts on a gym membership can help you save money together. Be sure to find out if and when you qualify for a 401(k) plan and enroll.

18. Do you have a budget or a spending plan?

This answer shows how organized your partner is. It is also helpful in knowing each other’s plans about money for the present and the future, to help eliminate any financial obstacles and misunderstandings that might arise. You should be on the same page regarding how money is being spent and will be saved.

 
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