Saving for the future

Ignoring the importance of saving and being financially prepared for a “rainy day” can cause enormous financial pressure in marriage. Pay close attention to the ability to live within an income by spending less and saving the rest. Do you know that, on average, American’s spend 5.7% of their annual income on restaurants and only 2.6-3% of their income goes to savings? Talk with your potential future spouse about their saving habits. Are they thinking and planning ahead? Are they pursuing financial short and long-term goals or simply living from paycheck-to-paycheck hoping that the future will take care of itself?

You see, the issue is not how much your potential spouse has or does not have. The real issue is, do they understand the basic financial laws and principles that govern our lives? Such principles include:

  • Spending less than we make and investing the rest
  • Having sufficient financial reserves
  • Saying no to immediate gratification
  • Understanding the dangers of easily accessible credit

Since money issues are some of the highest contributing factors in marriage breakups, cherish the fact that you still have time to do something about it! Here is to your “Happily Ever After!”

Megan Pacheco is one of the new additions to the Finicity (provider of Mvelopes and Money4Life Coaching) team. She comes with over 13 years of experience in the Biblical Finances area. Her content has been published by Money Matters, Do Well and Lifeway's More than Living. She is a mom of two young boys, and lives with her husband David in the Atlanta area.

Publication date: September 16, 2013