Marrying for money, yes we see this all the time and most of the time in soap operas. Now does this happen in real life, of course, it does. Now the question is if you’re single should you get married for money?
It would not be too difficult to search the Web for statistics on who does better financially in life, married or singles. The most common conclusion, with most of the variable factors, brought in that married people tend to do better financially than do singles.
With that being stated, let’s look at this from a very practical point of view- it is the long-term commitment that makes it work, not the act of getting married.
So for starters, let’s look at what marriage is from a reality perspective. It is a legal contract that has terms that change over time the longer it is in place.
Divorce is nothing more than a lawsuit against that contract with all the extra terms that were added in during the term of the contract. In other words, it is more a business relationship than a romance and a love relationship.
Even the most religious among us have to go to the court system to get a divorce, not the church. The Catholic Church tends to try to make money on this by waiting until the State voids the contract then the Church may consider annulling the contract for a fee.
So the conclusions are that the basic contract has the following features:
- Agreement between two people to build a life together that involves finances and sometimes children
- Aspects of this contract are determined and controlled by the tax code
- Caring and loving the other partner in this contract is optional but highly recommended for success
- A divorce is a lawsuit against the marriage contract
- The ownership of the assets in this contract revocable at any time the lawsuit occurs
Now that we have set down a few understanding rules, let’s look at this from why is it that married couples who stayed together tend to fare better.
The obvious answer is that they worked together as any good business partners would for the success of the enterprise. It’s not just about love and romance, ah well maybe in the beginning but as the relationship gets more serious it’s no longer whether the love will last forever. It’s also about being partners in life and being partners in life involves getting the finances in check.
Istock.com/JackFTwo minds singularly focused tend to produce better results than one mind singularly focused over extended periods of time.
It really is that simple. With this understanding, one can quickly understand that it is not the religious ceremony or the simple act of getting married that guarantees success. It is the long-term commitment that makes it work. Love and romance are optional but when added in make it work and flow much easier. It’s all about teamwork and the team effort. It’s all about the meetings of the minds.
Most people struggled with saving money when they were single. I for one had the same exact difficulties. A lot of times it is more difficult to commit to yourself than to another person.
Typically, when a person goes through a divorce even after a 10-year marriage or more everything that was built up over these years’ fall apart forcing a do-over! It is the same as any other business partnership.
If the enterprise is worked on, cared for, seeking a profit, then it has a high chance of success. If the enterprise is neglected, not focused on, not cared for, not seeking a profit, it will not succeed.
The same goes for marriage. Focus and commitment are needed if you want your marriage to last. Just like the old saying, it takes two to tango or two brains is better than one. Another advantage of marriage over a regular business venture is simply knowing that both of you are always available for a business meeting when needed. You can even talk about business decisions in bed. Together you create dreams and financial goals centered into a loving relationship.
As with any business, sometimes a person has to go through several business contracts before he actually finds the right partner. That one partner who will actually be compatible enough to make it work.Same as the marriage contract! Sometimes it is the first partner, sometimes the third partner.
So where does the part about love and romance in marriage come into play in this very fluid legal contract?
Love and romance are the elixirs that actually hold it together. In this, the marriage contract is unique among most other business and legal contracts.
So what are the factors now to be better off financially through marriage? They are:
- Understanding that it is a legal yet fluid contract
- Understand that it is a contract highly affected by the tax code, just like any other partnership
- It should be considered a long-term contract, like for life to make it work
- Other people known as children can be added to the contract
- Love and romance are ultimately what make it work
- If you cannot make it work, then for everyone’s benefit exercise the lawsuit option with minimal cost to all parties involved
- Find a partner that you can build a good contract with
The idea of let’s get married for money may or may not be true for everybody, but the real purpose of this article is to emphasize on discipline and commitment. It is much easier to commit to becoming financially fit when there are other people involved especially your family. With discipline comes responsibility.
Raising a family is not just building a loving relationship. It’s a complete package of love and being responsible with your finances. The desire to build a family should be stronger than your desire in building a business. This is what makes the difference. These are the reasons why settling down may be good for your finances.
Would you get married for money? Take this to the bank, that what makes it work is the long-term commitment, not the ceremony or act of getting married that makes it financially more solvent.
