Zuko Komisa
- Financial planner Shaun Chennells warns that a lack of financial transparency is a leading cause of marital breakdown.
- Couples must establish mutual goals and clear communication regarding debts and spending habits before marriage.
- Choosing the correct marital contract is vital to ensure long-term asset protection and equitable wealth management.
Disagreements over money remain one of the primary drivers of marital strain; therefore, establishing a shared fiscal philosophy early is essential for long-term stability.
Open communication regarding existing debts, credit scores, and spending habits is the first step toward alignment. Couples should discuss whether they intend to pool their resources entirely or maintain separate accounts, ensuring both parties feel secure and empowered.
Kaya Biz spoke to Shaun Chennells, a financial planner at BDO Wealth, who emphasised that financial compatibility is just as vital as emotional connection when preparing for marriage.
“I think one of the most important things that couples should be doing before they get married is they need to be having these discussions so that they can become financially aligned. And these discussions need to go beyond just the wedding budget.
Which is, I think, a priority for most newlyweds. But they should rather be talking about values and what income they bring into the marriage, any debt, family obligations, and long-term goals,” said Chennells
Setting collective goals such as saving for a first home or planning for retirement transforms personal finances into a unified strategy.
Furthermore, understanding the legal implications of different marriage contracts is a non-negotiable part of the process.
Whether choosing a regime that keeps assets separate or one that shares them, being fully informed ensures that both partners are protected.
By addressing these practicalities before the wedding, couples can build their future on a foundation of transparency rather than assumption.
Listen to the full conversation here:
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