As a newly wed couple, part of your success in marriage will be to handle your finances well. A great percentage of couples in India are unhappy with their marriage because of financial issues. You can avoid this trap by securing your money as early as possible in your marriage and save yourself a lot of marital stress in the process. A clever investment can greatly add to the happiness of your married life as well as your future as a family.
Once you have decided to tie the knot, it is highly recommended that you and your spouse-to-be set up a meeting to discuss how you are going to handle your joint finances. You might want to consult with a financial planner or broker for extra guidance. To ensure that your financial planner is legitimate and not just out to make money from you, enquire whether they are affiliated with the Financial Planning Standards Board India. During your meeting, ask them about the different investments you can make as a married couple. Your broker could determine a risk profile for each of you and advise where it would be best for you to invest.
Be sure that you are very well-informed with regard to which assets you invest in. It is never a good idea to invest all your money in one asset. Rather go for a variety such as gold, post office saving schemes, mutual funds, real estate and company shares etcetera. Investing in different assets is safer, as it reduces the total risk of losing all your money, even should one of your investments fail. Depending on what your risk profile looks like, you could go for a mixture of equity and debt assets.
If you both have separate jobs and income, you could keep your own private bank accounts, but also create a joint bank account in which to deposit funds for your household. You should set certain financial goals and come up with a plan to achieve these goals. You might want to buy a house together or travel the world, all of which will require money. It is a very good idea to set aside savings monthly and invest these savings to get a better return. That dream trip overseas will never happen if you don`t plan for it and work toward getting there financially.
Watch out that you don`t start spending more now that you are married. You might want to spoil each other all the time, but it is better to really monitor how much you spend and create a monthly budget to work from.
One of the good reasons to have money saved up or invested is that you never know when you could go through a financial crisis. One or even both of you might suddenly lose your job. No job is secure and in a very unstable economy, both in India and worldwide, it is best to set some money aside to cover you for at least a few months in case of a sudden loss of income. As a couple, job loss can really change your whole life, especially if you depend on a single income. Lack of finances could force you to change your lifestyle and ruin your future plans. A wise investment could, however, carry you through situations like these.
One of the clever ways to invest your savings is to buy shares on the foreign exchange market at www.dominoz88.com. It might take some research and training to get the hang of it, but many people have made a lot of money, simply by investing in the right currencies and benefiting financially from fluctuations in the different exchange rates.
The beauty of forex investing is that you don`t have to spend money right away. You could apply for a demo account, during which you don`t invest real money, but you see what returns your investments could have given you.
Once you have decided to tie the knot, it is highly recommended that you and your spouse-to-be set up a meeting to discuss how you are going to handle your joint finances. You might want to consult with a financial planner or broker for extra guidance. To ensure that your financial planner is legitimate and not just out to make money from you, enquire whether they are affiliated with the Financial Planning Standards Board India. During your meeting, ask them about the different investments you can make as a married couple. Your broker could determine a risk profile for each of you and advise where it would be best for you to invest.
Be sure that you are very well-informed with regard to which assets you invest in. It is never a good idea to invest all your money in one asset. Rather go for a variety such as gold, post office saving schemes, mutual funds, real estate and company shares etcetera. Investing in different assets is safer, as it reduces the total risk of losing all your money, even should one of your investments fail. Depending on what your risk profile looks like, you could go for a mixture of equity and debt assets.
If you both have separate jobs and income, you could keep your own private bank accounts, but also create a joint bank account in which to deposit funds for your household. You should set certain financial goals and come up with a plan to achieve these goals. You might want to buy a house together or travel the world, all of which will require money. It is a very good idea to set aside savings monthly and invest these savings to get a better return. That dream trip overseas will never happen if you don`t plan for it and work toward getting there financially.
Watch out that you don`t start spending more now that you are married. You might want to spoil each other all the time, but it is better to really monitor how much you spend and create a monthly budget to work from.
One of the good reasons to have money saved up or invested is that you never know when you could go through a financial crisis. One or even both of you might suddenly lose your job. No job is secure and in a very unstable economy, both in India and worldwide, it is best to set some money aside to cover you for at least a few months in case of a sudden loss of income. As a couple, job loss can really change your whole life, especially if you depend on a single income. Lack of finances could force you to change your lifestyle and ruin your future plans. A wise investment could, however, carry you through situations like these.
One of the clever ways to invest your savings is to buy shares on the foreign exchange market at www.dominoz88.com. It might take some research and training to get the hang of it, but many people have made a lot of money, simply by investing in the right currencies and benefiting financially from fluctuations in the different exchange rates.
The beauty of forex investing is that you don`t have to spend money right away. You could apply for a demo account, during which you don`t invest real money, but you see what returns your investments could have given you.
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