Stretch Your Dollar: Avoiding money mistakes in a new marriage

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(WTNH)– They say diamonds are a girl’s best friend but they could be a marriage’s worst enemy. We are stretching your dollar with money mistakes that can quickly create waves in a new marriage.

Before you walk down the aisle, pay attention. Decisions you make now may impact your future marriage.

Don’t pay too much for an engagement ring. According to The Knot, engagement rings last year cost on average six grand. Finding a ring that’s less expensive, but more meaningful, may get your marriage off to a better start.

Don’t pay too much for a wedding. The Knot says last year the average wedding cost more than 35 grand. Try to save money by getting married on any day other than Saturday. Also, look into renting your wedding dress.

And know how marriage affects student loans. The average graduate in the class of 2016 left college with more than $37,000 in student loan debt. Find out if your partner has student loans. And know those loans may make it more difficult to buy a house or contribute early to a retirement fund.

Not talking finances? Talk about money before marriage. Perhaps you determine it’s best to keep some money separate. Or you vow to have a conversation before spending a certain amount of money. Either way, having a plan now will save headaches and potentially your marriage.

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