Wazzup Pilipinas!
When we get married, the traditional "what's yours is yours, what's mine is mine" mentality doesn't always apply anymore. We are introduced to something called "conjugal property”—which, in essence, means property owned by both you and your spouse.
It’s good to talk about each others finances as early as you can in your married life. Ideally, the two of you have started having discussions about your finances even before you got married. If you just got married or have been married for quite some time, it helps if you and your spouse have your financial goals aligned.
Here are six smart investments you and your spouse should consider in order to build a secure future for your family:
1. Get Rid of Debt
Debt carries over even when you get married. If one or both of you have standing loan balances or credit card debt, the two of you would begin working together to eliminate those debts. There are many ways to get rid of debt, and a well-planned and executed budgeting plan can help you minimize debt and get rid of it entirely. You just have to make paying off your debts a priority ideally before you have kids.