We enter marriage with stars in our eyes. Naturally, we vow to share everything. We believe that love conquers all obstacles. Unfortunately, the bank does not care about your vows. In fact, blind trust is a financial risk. Many traditional beliefs set women up for failure. After all, divorce, death, and disability happen. Therefore, you must deconstruct these seven marriage myths to stay safe.
1. Myth: “What’s Yours is Mine”
Legally, this varies significantly by state. In some places, assets are not split 50/50. Unfortunately, if his name is solely on the deed, you might be out of luck. Therefore, do not assume automatic ownership. Instead, understand your local laws immediately. Put your name on every title. Ensure you are a legal co-owner on paper. Assumptions often lead to homelessness.
2. Myth: “He Handles the Money Better”
Maybe he is good at math. However, that doesn’t mean he should control the cash. Ceding control creates dependency. Consequently, you lose your financial muscles. You need to know where the money is. Also, you must have access to all passwords. If he falls into a coma, can you pay the mortgage? Competence requires practice.
3. Myth: “I Don’t Need a Prenup”
People think prenups are for the rich or the cynical. In reality, they are insurance for everyone. They force you to discuss finances honestly before the wedding. Also, they protect you if things go wrong. Marriage is a binding legal contract. Effectively, a prenup just customizes the terms. It protects your pre-marital assets from his debts. Truly, it is a smart business move.
4. Myth: “My Career Can Wait”
You step back to raise kids. Then, you think you can jump back in later. However, the workforce moves fast. Your skills become obsolete quickly. The “mommy track” lowers your lifetime earnings permanently. Re-entry is harder than you think. Therefore, keep a toe in the door. Maintain your professional network. Keep your certifications active.
5. Myth: “We Will Never Get Divorced”
Nobody plans to divorce. Yet, nearly half of marriages end. Denying the possibility is dangerous. Actually, it prevents you from protecting yourself. Hope for the best, but plan for the worst. Always have a personal exit fund. Keep your credit score high. Safety gives you the freedom to stay by choice, not necessity.
6. Myth: “Joint Accounts are Enough”
Joint accounts are great for bills. However, they are terrible for autonomy. If he sees every coffee you buy, it invites scrutiny. Eventually, this leads to control. Instead, you need privacy. You need money he cannot access. This isn’t about secrets. Rather, it is about agency and independence.
7. Myth: “Alimony Will Save Me”
Alimony is becoming rare. Courts now expect women to work. Consequently, you cannot rely on a payout to survive. Those days are largely over. You must be able to support yourself. Therefore, maintain your employability. Your human capital is your greatest asset. Never let it depreciate.
Protect Your Future
Romance requires realism. Do not let these marriage myths leave you destitute. Instead, secure your own mask first. A strong woman makes for a stronger partnership.
Did you believe any of these myths? Share your thoughts in the comments below.
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The post 7 Marriage Myths That Keep Women Financially Vulnerable appeared first on Budget and the Bees.
