Why do you need to talk about your finances before the wedding?

Before walking down the aisle and saying your vows, there is one thing that you absolutely need to do: talk about money first. 

Every financial expert and long-time married couple would probably say the same thing. You need to talk about your finances before you decide to get married. This may seem to be the ultimate romance spoiler but if you share a special kind of relationship and are really meant for each other, talking about your personal debts and spending habits won’t dampen the relationship.

How to Tell If You Are Financially Ready for Marriage
There are several things you need to know about each other’s financial status and spending habits before you tie the knot. This may turn out to be one of the most unglamorous discussions but you need to go through it to make sure that both of you know what you are getting yourselves into. Remember, you will be legally joined together and building a life together – for better or worse. To know if you are ready to take the plunge, here are some of the things you need to discuss.
Debt. How much debt does each of you have? This can be a critical piece of information since a lot of people have student loans totalling over $100,000. Get everything out in the open before you tie the knot since hiding the fact can only ruin the relationship.
Credit score. Well, here is yet another unglamorous topic that you absolutely need to discuss with your partner. Do you both have decent credit scores or would your partner’s credit hold you back? If you think that your future spouse has a money problem, ask him or her to get some financial counseling to resolve the issue. However, if you believe that there is no hope for any improvement, you may want to think things over more seriously. Keep in mind that money problems often lead to nasty arguments which may later end up in a divorce so you need to take everything into consideration.
Wedding details and expenses. Talk about the details of the wedding and honeymoon. What does each of you expect and what can you realistically afford? Well, it would be nice to have your dream wedding but remember, you don’t want to rake in a lot of debt and pay for it for the rest of your life.
Lifestyle. It is also important to know the kind of lifestyle you and your partner are expecting to live. Think about how much it will cost you to live that kind of lifestyle and determine how money will be handled in your household. Who will be paying for what and what is your take on saving and investing?
Children. Are you considering having children? If you are, you need to talk about the financial impact of having one. Remember, raising kids can be expensive. As such, you need to know where each one of you stands on this issue.
Have the talk before the wedding. It can be one of the important things you need to do to help you determine if your married life is headed for success or for failure.