Certain decisions in life are not considered financial, but there can be serious financial consequences for ignoring their implications. Here are three choices we should all take very seriously.The person you marry will shape your finances for life. Divorce can leave even the most frugal person broke, but simply staying married provides no guarantees, either. Be sure you and your spouse share the same financial goals and attitudes. Ask the obvious questions – do you both want kids? Do you both want to work? Travel? Retire early? Run your own business? Answering these now can minimize problems later. If you decide to have kids, having a solid financial base helps. A child can mean the loss of an income for a period of time, and the rearrangement of financial priorities for decades. And there’s always the chance an adult child will need help in their 20s – or even older. If you want a family, evaluate your finances sooner rather than later. Before choosing a college degree to pursue, it helps to learn the earning potentials for different careers. It’s nice to follow your heart, but you don’t want to sink thousands of dollars into a degree with lousy career prospects. That often leads to returning to school later to study something more practical. Oftentimes, people find rewarding careers in fields that pay well, while delegating their interests to a hobby that their job supports.
