Thinking about this question is already good. Love is love, but money has destroyed even lesser relationships. Let’s figure out how to get married and not become economically dependent on your partner.
he financial life of a husband and wife is regulated by the Family Code. It is there that the most important rule is written: in general, property acquired by spouses during marriage is joint property, and in case of divorce it is divided in half. Property includes spouses’ income from work, movable and immovable property (regardless of whose name they were acquired in), and securities. The full list can be found in Article 34 of the Family Code.
It is assumed that this norm should put everyone on an equal footing, but in reality there are many pitfalls that can greatly complicate financial relations in the family.
Debts before marriage
Let’s say you’re getting married. When you and your future husband were discussing your joint budget, it turned out that he has outstanding loans in banks. You heard something about spouses’ debts being divided equally, so you became wary. And rightly so.
By law, banks do not have the right to demand that the wife pay for the husband’s loans taken before the marriage. But if he has nothing to pay with, the court will encroach on the common property. For example, on the share in the apartment bought by the newlyweds with the money of the wife’s parents. Such property, if the husband and wife register it in their own name, is considered jointly acquired by law.
Holiday to care for the child
In Russia, men are officially allowed to take parental leave under the same conditions as women. But only slightly more than 2% of fathers take advantage of this opportunity. Is a husband ready to stay with a child if it is objectively more profitable? For example, if his salary is higher and it is white.
If a woman receives a grey salary, the payments during maternity leave will be very low: up to 40% of the average monthly salary until the child is one and a half years old. With an official salary at the subsistence level, after childbirth the woman will essentially remain dependent on her husband. Will he pay for baby food and diapers? Most likely, yes. Is he ready to spend money on therapeutic massages for the young mother, on her hobbies and everything that made her happier when she had her own good income? Not always.
Different approaches to budgeting
Let’s say you’ve agreed to keep a joint budget – to put all your income into a common piggy bank. But under what conditions will you be able to spend the money from there? Whose card will it be stored on? How much money can you spend on yourself, and how much can you leave untouched?
You may think that by default everything is divided equally and decisions about large purchases are made together, but your partner will have a different opinion. It may turn out that only the man, as the “master of the house,” wants to make all the decisions about purchases (especially large ones, such as an apartment or a car), even if you have approximately the same salaries.
Financial manipulation during divorce
When a relationship ends badly, one party may use finances as a tool for manipulation. For example, by pressuring the partner that he or she contributed more to the family’s financial well-being and therefore deserves a larger share of the jointly acquired property. The situation becomes even more complicated when custody of a child is at stake. Then the other party has to give in and give up a car, a share in an apartment, or part of a joint business.
The pitfalls are clear. What to do?
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Discuss all the financial issues we discussed above in advance.
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If you plan to combine your budget after marriage, test this mode in the demo version. For example, on a trip. Make joint purchases, plan expenses depending on each person’s priorities, pay attention to how certain financial decisions are made.
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And the best thing is to sign a marriage contract, which will spell out all the nuances of your financial family life. This way you will protect yourself not only in words, but also in deeds.
The marriage contract specifies all the points that concern you:
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Pre-marital property: for example, what will happen to the money that the wife invested in a car before marriage, if the spouses later decide to buy a higher class car together.
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Future property: who will own it, even if the purchase is only in the plans.
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Who distributes finances and makes key decisions about major expenses. The contract can establish the rights and responsibilities of each.
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What portion of income will be considered personal and what portion will be considered joint.
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Will you pay off each other’s debts?
Everything you agree on can be written down in a standard form . It is important that the clauses of the agreement do not infringe on the rights of one of the spouses, otherwise the document can be challenged in court.
Please note: a marriage contract can be concluded not only before marriage, but also after it.
Don’t be afraid if you don’t know all the intricacies of concluding a marriage contract. If something is filled out incorrectly, the notary will point it out – the document must be certified by him in any case.
Discussing financial issues as a couple is not shameful. The more things you discuss before marriage, the fewer surprises (often unpleasant) you will receive after marriage. Remember, your money is your business.