look news india
Financial Problems After Marriage: Marriage is an important turning point in life, in which two people intend to spend their lives together. However, many couples face a shortage of money soon after marriage. If the financial condition worsens soon after marriage, then a lot of stress and embarrassment can be faced. Let us know what are the important reasons behind this.
Due to financial crisis after marriage
1. The pressure of wedding expenses
Nowadays, wedding ceremonies are a huge expense, and wedding preparations such as venue, clothing, jewelry, catering, photography and other expenses can greatly affect the couple's budget. Often married couples use their savings or take loans to meet these expenses. After marriage, it becomes difficult to recoup these expenses, leading to a shortage of money.
2. New home and setup
After marriage, the cost of setting up a new home also increases. Furniture, gadgets and other necessary things have to be bought for the new home. Apart from this, a lot of money is also needed for the decoration and renovation of the new house. This new setup can also increase financial pressure.
3. Honeymoon expenses
It is common to go on a honeymoon after marriage, for which the cost of hotels, flights and other activities can also affect the financial condition of the couple. The extra expenses incurred to enjoy the honeymoon can sometimes spoil the budget.
4. Lack of financial planning
Before marriage, couples do a lot of planning for their Haldi ceremony, wedding day, wedding function, reception and guests but often they miss out on financial planning which affects them after marriage.
5. Burden of responsibilities
After marriage, family responsibilities increase, especially it becomes difficult for the person leading the household to handle the situation. Then the person's mental condition can deteriorate due to financial pressure.
how to manage budget after marriage
1. Create a financial plan
Make a solid financial plan for pre and post wedding expenses. Set a budget and avoid unnecessary expenses.
2. Savings and investments
Plan for regular savings and investments after marriage. This will make it easier to deal with future expenses.
3. Avoid taking loans
Control your wedding expenses and avoid debt. If you are forced to take a loan, plan to repay it well in advance.
4. Managing the income of both
Manage the income of both of you properly and share the financial responsibilities amongst yourselves. This will eliminate the shortage of money.
5. Emergency Fund
Keep an emergency fund ready to deal with sudden expenses.
