Monday, March 28, 2011

The Financial Benefits of Getting Hitched

No, this is not a desperate attempt to get people hitched, although it is the raison d’être of Marrygold (getting peopled hitched, that is), but it’s my practical side of the brain talking.

My previous post discussed tips to bring financial success in your marriage (Financial Success in Your Marriage). In this post I want to talk about something downright sensible: Marriage makes good financial sense. I am talking about practical financial benefits and not the deeper ones of love, emotional stability, etc.

From a monetary standpoint, women get married (or should I say used to, in case I offend some bra-burners) for financial support. Like a gentleman so rightly pointed out to his son-in-law during a wedding rehearsal, “And now I take my daughter’s hand from my pocket and put it into yours!” He couldn’t be more right. Money continues to feature high in women’s wish-list of their ideal man, but extending the same premise, why should a man marry? Unless it’s billionaire’s daughter, that is. I guess because it makes more practical sense, financially.

And more so in these times. Look around you and you’ll see more and more --- couples who both bring home the bacon and keep the fire going. It’s no more a man’s prerogative, at least in booming urban areas. Marriages have considerable financial benefits for both men and women. And here’s why:

  • Firstly, there is more flowing into your collective coffers.
  • Your rent is halved, there’s suddenly more you can spend on utilities, grocery and fancy dinners.
  • On the practical side, you could go in for superior insurance or choose to make higher investments.
  • You might find it easier to get your dream home or car because banks are more likely to give you a loan now that you are more financially stable.
  • You have a level-head who curbs your sudden shopping urges.
  • You can begin to attach real wings to your dreams of traveling or finally have the means to invest in your expensive hobbies.
  • In times of recession, you don’t need to fear as much the financial repercussions of losing a job. Your partner’s there to support you until you find another one.

Most important of all, a stable home, both financially and emotionally is the basis for most of our success in our personal and professional lives. And a stable home starts with financial stability. Don’t you think so? Share your thoughts!

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