It’s a sobering fact that one in three Australian marriages will end in divorce, with the number one reason being finances. To safeguard their future, more Australian couples are turning to prenuptial agreements in the event that their relationship ends prematurely. But here’s the thing about prenups: they focus on failure rather than success, potentially bringing a host of negative emotions into the marriage before it even begins.
With this knowledge in mind, we’re introducing the ‘Pronup’. A pronup is positive spin on the prenuptial agreement where the focus is on keeping couples together. Here are five reasons why a pronup can improve your relationship and promote greater financial harmony.
It empowers you to work as a team
Working as a team is a key factor in any healthy marriage. A pronup can improve your relationship by taking teamwork to the next level. The process of creating a pronup empowers couples to sit down and openly discuss finances and lifestyle goals. You devise a plan to achieve those goals as a team, rather than individually.
It helps you set common goals
How can you achieve your dreams if you don’t know what you’re working towards? You can’t, which is why goal setting is the cornerstone of the pronup. By sitting down with your partner and nutting out these goals, you have the opportunity to align your lives in a deeper and more meaningful way than if you set goals individually. The upside? Being proactive can help reduce the financial strain on your relationship down the track.
It creates a framework for you to build on
A prenup bases its information on what would happen in the event your relationship fails. This does have its benefits, but doesn’t provide couples with any help while their relationship is in full swing. A pronup, on the other hand, creates a healthy financial framework for you to build on over time, laying the foundations for success rather than failure.
It opens up communication
Communication is key to a successful relationship. So why would talking about money within that relationship be any different? A pronup can improve your relationship because it helps both parties open up and consider their individual relationship with money and how that may affect their partner, while also helping set common goals and nut out any issues. Once the communication lines are open and everything is on the table, it’s easier to talk about issues arise rather than sweeping them under the carpet.
It improves your wellbeing
Getting crystal clear on your finances is an exciting and empowering life admin task that has many benefits. Sitting down with a financial advisor to create a pronup that outlines your roadmap to financial success as a couple, will no doubt improve your financial wellbeing and the health of your relationship overall.
Rebecca is passionate about promoting the positive impact of quality financial advice on personal wellbeing. Read her full bio here.
