Financial Problems Post-Marriage: Reasons for financial crunch after marriage!

Financial Problems Post-Marriage: Marriage is an important turning point in life, in which two people intend to spend their lives together. However, many couples face a shortage of money soon after marriage. If the financial condition worsens soon after marriage, then one may have to face a lot of tension and embarrassment. Let us know what are the important reasons behind this.

Reasons for financial crunch after marriage

1. The pressure of wedding expenses

Nowadays, marriage ceremonies are a huge expense, and wedding preparations such as venue, clothes, jewelry, catering, photography, and other expenses can greatly affect the couple's budget. Often married couples use their savings or take loans to meet these expenses. After marriage, it becomes difficult to reimburse these expenses, leading to a shortage of money.

2. New home and setup

After marriage, the cost of setting up a new home also increases. Furniture, gadgets, and other necessary things have to be bought for the new house. Apart from this, a lot of money is also needed for the decoration and renovation of the new house. This new setup can also increase financial pressure.

3. Honeymoon expenses

It is common to go on a honeymoon after marriage, for which the cost of hotels, flights, and other activities can also affect the financial situation of couples. The extra expenses incurred to enjoy the honeymoon can often spoil the budget.

4. Lack of financial planning

Before marriage, couples do a lot of planning for their haldi ceremony, wedding day, marriage ceremony, reception, and guests, but often they miss out on financial planning, which hits them hard after marriage.

5. Burden of responsibilities

After marriage, the responsibilities of the family increase, especially for the person who leads the house, it becomes difficult to handle the situation. Then due to financial pressure, the mental condition of the person can deteriorate.

how to manage budget after marriage

1. Create a financial plan

Make a solid financial plan for pre and post-wedding expenses. Set a budget and avoid unnecessary expenses.

2. Savings and investments

Plan for regular savings and investments after marriage. This will make it easier to deal with future expenses.

3. Avoid taking loans

Control wedding expenses and avoid debt. If you are forced to take a loan, plan for its repayment in advance.

4. Management of income of both

Manage the income of both of you properly and share the financial responsibilities among you. This will reduce the shortage of money.

5. Emergency Fund

Keep an emergency fund ready to deal with sudden expenses.