8 money tips for those planning to get married - rediff

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8 mone tips for those planning to get marriedLa daed : Decebe 6, 2011 06:37 IST

Planning to get married in 2012? Here are eight things ou

must know before ou sa 'I do'.

I i aid ha aiage ae ade i heae ad ceebaed

eah. Thi a beief i e ice i i a ecia bd haed

beee , h ie he eddig afe iig

be cai f a ifeie. I big igifica abii ad

b ace ha eaihi . I a a ccia e i

afeig he ce ad ciiiai f e geeai he

he, ha he ha ace e. The iii f

aiage i beeficia he cie a a he, becae i i he

fdai f he fai, hich i i he fdaea bidig

bc f he cie.

O fiacia f i i e igifica ha bh idiida di c

he fiacia eibiiie a aiage i 'We' ad 'I'.

He i aa he be ic, eecia he i ce e aagee i a aiage.

Me i e f he bigge dicd ag eed,

eecia i big ciie. Pbe f edig ad ieig a 'I'

ag aied ce iead f 'We' i e f bigge be

behid iee decii . I baica aie f ac f cicai. Tha' h i bece ch e

igifica a dic ig ab e ae e i adace befe aiage ie f.

M f he ie -be-aied ce d' cicae hei iee decii de eigh caiai.

I addii, idiidai i ceeig i ea fiace hee da ad ce ae eadfa efig

hae hei fiacia ifai ih each he. I' beieabe b e. If I ea, I hae a he igh decide hee I

ed (fge ab iee) i he eaig. Shaig aa deai, aa b , cedi cad ii ih ae i a

abe -. F he, i' giig he e ace i e ae. I he, igace i he bi he i ce

each he' fiace.

Ni f idiidai ad fiacia ideedece cd defea he e e f d fiacia aig. If e de' ha he he i dig i h he e i ca be dia . Hidig e hge deb i a eie e f he

ea hae fiacia ifai i h ae. B he fe fge ha e eed fid i he be

ad aggaae i.

I addii, i i igifica ce e ih fiacia eai afe aiage. Sige ice ca ce dbe, b

ca be deb; big ae a bece eaie, b iace iabii cd iceae; edig aig habi

cd be dia i ach, b g e ga a be ae. I e cae, e ca be ea f a he

aia dicd.

Courtes: Investment-mantra.in

8 mone tips for those planning to get marriedLa daed : Decebe 6, 2011 06:37 IST

1. Get read to share responsibilities

Me aagee i a aiage i ab haig a ic dic i ih each he ad he e e caig he

ba f he ce. I ie bh aie ig gehe ad haig eibiiie ea. F eae, bh hbad

ad ife eed ae a i deci i-aig, bdgeig, ad bi aig.

I addii, if e ibiiie ae' diided ad ehig hae he "fiacia" e, he he e ca be ef

cee . Bi a g aid, deb a accae, ad ha ce a a id fiacia ii ca deeiae aid. I

he iee f eeig ad e' efae, ae e each f i aae f eie fiacia ice ad

i i chage f aagig a i f i.

Mae e ae ead gie 100% aage fiace i a ia a. P f eff i he fiacia

ae f aiage. If ae giig ece each ie g a edig ee ae big ff bdge,

ae giig 100% aiage ef, ad ha aide i ce bac ha . T e a a





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8 mone tips for those planning to get marriedL : D 6, 2011 06:37 IST

2. Be open about our financial health and

spending habits

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8 mone tips for those planning to get marriedL : D 6, 2011 06:37 IST

3. Do frame a budget, baseline the goals

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en o inance pemim and go on o malle

one ch a goce , ili o cedi cad bill. A

bdge ha inclde acking o pending i onl

a o kno hee o mone i going. I ill make

e ha ha if o need o ae moe o achiee

o goal, o c don on o pending.

8 mone tips for those planning to get marriedLa pdaed on: Decembe 6, 2011 06:37 IST

4. Work out implementation strateg

Thi i he mo ignifican apec of financial

managemen fo nel ed. Shold one mege he

finance? Who ill make e he plan i on ack?

Thi depend on ho cople an o plan i o.

Thogh one can eain hei indiidal accon omanage indiidal epene , a join accon fo

hoehold epene, inclding goce o ili bill

i ecommended. Alo a jo in accon fo emegenc

fnd o pao fo pemim can be conideed

heein a pecified amon can be depoied each

monh. Thee i a fleibili o opeae in cae of each

ohe' abence. Boom line i ha he cople

hold be comfoable managing hei finance.

Een if one pane i financial l a, i doen'

mean ohe one hold emain in dak. Boh he

mem be hold be aae of hei inemen aene, aing and epene, mode of anacion, paod, de

dae fo pemim , bill ec. Thi ene ha in cae of an eenali, o ae no cle le abo o inemen.


5. Evaluate our insurance needs

Befoe maiage and iho dependen, an indiidal can do ih elaiel mall inance coe hen afe maiage,

epeciall if o ae he ole eaning mem be of he famil. So a em li fe inance i ciical. Yo coe hold be enogh

o pa o o oanding loan o ha o poe in' bdened b i. Ideall o hold hae 10 ime o annal

income a life coe. Upgading o healh inance i alo ignifican. Een if o ae ined b o emploe, i i

adiable o b a epaae polic. On an aeage a combined coe of R 5 lakh fo a cople ill be an ideal one b again





i depend on ohe nmeo faco.

6. Kno about taation benefits

A a maied cople, one i eligible fo high home loan

and boh can claim a dedcion on epamen. A join

home loan offe a benefi of R 1 lakh each nde

Secion 80c of Income Ta Ac (fo epaing he pincipal)

and addiional R 1.5 lakh each on he inee

epamen nde Secion 26.

7. Take care of documentation changes

If o go fo a name change afe maiage, ene o

indlge in necea papeok. One of mo ccialaleaion inoling name change i PAN cad change,

beide pa po , KYC , bank accon ec. Adding

ife' name in all eiing inance policie and

inemen on' be a bad idea.


8. Put emergenc fund in place

Life come ih no gaanee. So een if boh ae eaning ell,

i doen' mean o canno be alaid b an acciden o an

illne. Be pepaed fo ch eenaliie and a aing fo

emegenc fnd, hich hold a lea ah a lea 3-6 monh

oh of epene.

In nhel l, oking oad a common goal can make hing o

mch eaie fo o and o pane. 1+1 = 11 emembe. Make

a conolidaed ecod of inemen. Fo inance, ee imeo SIP i eeced make ha en in he file. Deail of

inance policie -- amon of life coe, ene, pemim and

polic nmbe, fied depo i, PPF depoi, bond , bank and

dema accon nmbe hold be cleal menioned. Dic

o inemen, loan, epene and bdgeing. Idea i o

conolidae financial pofolio of boh o a o complemen each

ohe' inemen.

Conolidaion baicall lead o doing aa ih he dplicaion

and b-opimal e of ineible pl. Hband and ife can

gain baniall hen he combine hei financial foce. The

ae able o manage deb bee, b a bigge life coe fo

hemele and m o impoanl hae moe ineible pl .

Hamon in finance ill definiel help pend bee, e ine

moe and aoid dplicaion.

Summar

Maiage and mone can be ick, b he be hing o can do i o be open and hone. Sa off on he igh foo b alking

abo mone managemen and coming p ih a olid plan o deal ih bdgeing, pending, and ineing. The oone

o do hi , he bee. If o fom good mone managemen habi a a nel maied cople, o'll be able o ok a a

eam hogh haee life ho a o fo man ea o come. Planning a 'We' i alo ignifican a o aae of

inemen made if one of hem m ee an nimel deah. Thogh nohing can be moe amaic han lo of dea one

b hee can be financial epec ion oo if ha peon ha olel handled all inemen. Someime e end o be

dioganied ih o inemen a e hink ha nohing can happen o .

So i' high ime e ndeand he ignificance of 'We' o a o lead healh financial life.

8 money tips for those planning to get married - rediff

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