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Getting Married

In this very exciting life transition saying “I do”. Couples have a vision about where they are going to live, how many kids they will have and trips to have together, one of the subjects that sometimes gets ignored is about the planning of your finances together. If you haven’t done so, do it as soon as possible.

Money can be one of the most difficult topics for couples. It is crucial that you talk about finances, no matter how uncomfortable it feels, the two most important words to remember about marriage and money are: Never lie. Lying about finances to a spouse damages trust and can ultimately lead to the divorce court.

Here are some things to consider:
  1. Share your current financial position. Prepare an individual financial statement, this contains all your assets (home, condo, investment properties, cottage, boat, collective cars, paintings, antiques, stocks, trusts, jewelry) and your liabilities (mortgage, credit card debt, line of credits, student debt, personal debt). With this in mind you can both have a starting point financially and how things will be after you get married. This is more crucial if this is your second marriage and there are children on both sides as you may want to ensure your kids are taken care of.
  2. Understand your money personality, if you are a saver and your spouse to be is a spender, this will create tension and resentment in the marriage. If you have opposite personalities when it comes to money. Some common ground needs to be determined about the common finances.
  3. Create a Budget for common expenses and decide how you will manage money; with separate accounts, a joint account, or some combination of the two. Keeping separate accounts may be a comfortable starting point for many couples, especially when they are accustomed to managing their own finances and don’t yet have many shared expenses. When couples move in together, it is likely that there will be at least some income difference, not to mention debts that may be brought into the relationship.
  4. Discuss retirement and long-term goals, such as buying a house or taking a dream vacation or maybe a boat. Make sure you set a plan where both parties are  contributing to retirement accounts and set up an automated system to facilitate saving for those long-range goals in another separate account.

For more information about how to enter the next phase of your life and the financial steps you need to follow book a complimentary Financial Health Assessment.






"I always wanted to talk to someone who could help me get my financial goals in order. I know I needed to get to this part but had no clue how to or who to get? When I spoke to friends they were in the same position. Araceli was amazing no question was dumb or any thing I had did in the past could not be fixed.

I feel/know Araceli got my life in order and regained happiness to my out look on my future. Does that sound dramatic...YES... but it is true!

I now have correct insurance coverage, my budget is fair I am not in the poor house every pay week and I have a feeling of safety and freedom. I love seeing her and she keeps me in check. I will always have this lady in my back pocket she has become a friend."

Christine Macvicar (Single professional)Mississauga

I met Araceli Hernandez about 9 years ago. One of the best decisions I ever made was to meet with her about financial planning. She wasn't pushy and listened to my concerns. I appreciated her vast knowledge and expertise. Fast forward 9 years later and I'm in a very good financial situation because of Aracelli's advice. My son is also well on his way to saving for his future. I strongly believe that everyone should have a financial advisor but working with someone like Aracelli is key to making well-informed decisions.

Patrice Palmer (Single Professional) Burlington

“I’ve worked with Araceli and feel she is the best. She works hard, knows her stuff and has integrity. She works with your budget and presents you with options that work for your situation and lifestyle. ”

Dana Castro (owner of three crowns studio) Mississauga