Getting Married? Get your finances in place first

Marriage is an important facet of life for which couples prepare with great enthusiasm but in the process get totally oblivious to the most important fact – the married life ahead. As two individuals merge to form a couple, it’s wise and must that you to sit across and communicate all financial stakes that lies ahead. We’ll review the key financial factors that a couple needs to keep in mind, prior to getting married. Further, below mentioned aspects are not for post-marriage scenario but to be absorbed right at the onset of matrimony.

Common finances

After marriage, the household is fuelled by pooled finances of a couple, unless one of the spouses is a homemaker. If the couple is a salaried professional, then they need to take decision on the ratio of contribution to personal home finance.


Any debt either availed for the purpose of marriage by either of you or any pre-existing debt has to be eventually repaid. Now, this is a prime decision, as many times, barring initial few months, the continued fund outflow seems to be a burden and causes chagrin and anxiety in the partners, especially if it’s a pre-existing debt of any one of you. You should prepare your personal income statement with complete assets and liabilities and exchange this with your partner.


In India, the individual tax assessment norms prevails, so common burden is relatively absent. But for any taxable asset, joint purchased or availed, you have to decide about the division of liability.


This should be the most important aspect for the couple. This forms the foundation for a comfortable present and future. You can proceed to open joint saving and investment accounts. A decent saving is a cushion for any couple, with regards to any contingency and also, when you extend your family and kids arrive. Based on the proportion of your salary, in comparison to your partner, both of you can discuss and work out mutual contributions.


Be it a house, a financial investment or even a luxury sedan, for that matter- any asset built by a couple is matter of joint decision but also of great pride. You need to plan for the proportion of funding and post purchase management.

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