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Does Marriage Affect Financial Stability
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[QUOTE="King bell, post: 332991, member: 75687"] Depending on their various circumstances and dynamics, marriage may have a great effect on financial stability. When two people earn together, they are more likely to have better resources thereby allowing them to achieve shared goals regarding their finances. Common expenses like rent, electricity, water and food assist in cost savings while promoting economic security. Therefore, transparency in the budgeting process and sorting of our financial priorities is important. Financial stability can be positively influenced by tax benefits such as lower rates, deductions, and credits. These financial purposes include buying a home, educating children and planning for retirement among other things which could increase a family’s financial stability. Nevertheless, lack of agreement in terms of financial goals or poor communication within couples leads to misunderstanding thereby causing financial stress. Even though simplified estate planning may favor married couples; adequate estate planning is crucially important for everyone including them. [/QUOTE]
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