It has been an exciting month for us at (what is now) Midstate Community Bank, with the most exciting being our recent name change. However, we aren’t the only ones that are going through a name change this time of year because it is also the season for weddings.
Anyone that has ever been married knows that decisions are the name of the game, from the time you decide to tie the knot, to where to hold the ceremony, to where the honeymoon will be. While this may involve some stress, there are other decisions that are often more difficult to have and can impact both the short-term and long-term success of a couple. For example, a discussion of finances.
A recent survey indicates that 53% of couples discuss the issue of money and debt before they get engaged, while 37% do it at some point after. However, an amazing 11% never have the conversation. For those that want and need to discuss their financial situation, the survey also suggests some initial questions for couples to start with in order to break the ice on the topic:
- Should we combine assets or keep them separate?
- Should we maintain a joint or separate bank account?
- What are our joint financial goals?
- What if an illness or injury prevents one of us from working?
- What is our budget?
At Midstate, we have a number of couples that are customers, and are proud to assist them in way we can in making changes involving their accounts. However, we do suggest having an open and honest conversation prior to coming into the branch so everyone can be on the same page and we can help be a small part in what we hope will be a long-lasting relationship.
Customers of Midstate Community Bank all know about our famous bulletin board, where local and industry news is shared. This blog will serve as our virtual bulletin board, so you can keep up when you don’t have a chance to visit us at the bank. You can also visit us on our Facebook and Twitter pages.