Financial stress is a leading cause of marital conflict. At least one money dispute was reported by 90% of married couples. 67% of couples argued about money at least once every 15 days. These aforementioned statistics capture the real cost of marriage with someone with whom you are financially incompatible. Historically, women have not been encouraged to talk about finance. But it is the need of the hour. In an interview with HT Lifestyle, Nehal Mota, co-founder of Finnovate, shared financial concerns women should discuss before marriage.
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How do you treat money?
Nehal highlighted to understand knowing how you and your partner treat money is the foundation of financial compatibility. Do you know each other’s income, investments, financial commitments, and spending habits? How will this shift post marriage? If each of you support your parents financially, will that change post-marriage? She recommends engaging in serious conversations about money.
Financial structure in nuclear vs joint family
Nehal highlighted that women are expected to financially contribute to their marital home. It can be managed in nuclear families by making a dedicated joint household fund. But what about in joint families? Most joint families run on a joint fund, with contributions from all the members. Your spouse’s income may be managed by the family. You may be expected to contribute. All financial decisions may be made by the head of the house, leading to unclear ownership of property, investments, and wealth. How would you manage this post-marriage?
Do your financial goals align?
Mismatched priorities can create unwarranted stress. As a couple, do you prioritise home-ownership or renting? When do you want to start a family? Do you plan to co-parent? 73% of women do not return to the workforce after maternity leave. How would you maintain your financial independence in this scenario? These questions give you clarity on your financial goals and perspective.
Financial secrecy
“Honesty in relationships is crucial, especially about debt. It is important to be sure that you both are aware of the EMIs and debt stress that you bring into the marriage,” said Nehal. Hidden loans, EMI stress, and lifestyle debt are the most common financial red flags that most women could encounter.
“It is important to understand your financial compatibility early. Get clarity on what you agree on. If something feels off pause, reflect. Your financial independence, career, and peace of mind are not negotiable. And a healthy marriage should create partnership, transparency, and security, not pressure you to negotiate for financial freedom,” Nehal told HT Lifestyle.
