Before meeting my fiance, I had saved up for 5 years. Some time ago, I asked my fiancée about his savings for a down payment, and he mentioned that he could contribute Rs 24lakh. However, it turns out that the Rs 24lakh is shared with his brother, meaning that we would have a debt of Rs 12lakh after marriage if we were to use the entire amount. I feel upset that my fiancée never informed me about this, as he earns a great salary and could have saved more without relying on his brother’s funds. I do not believe in borrowing money from others, and I am concerned about being burdened with a mortgage and repayment to his brother while raising children. I am unsure if my aversion to borrowing is justified, and I would appreciate any advice.
Please help @AdviceGuru
It’s understandable that you feel upset about not knowing that the funds your fiancé mentioned were shared with his brother. It’s important to communicate your concerns and expectations about finances with your fiancé before getting married. This will ensure that both of you are on the same page andRead more
It’s understandable that you feel upset about not knowing that the funds your fiancé mentioned were shared with his brother. It’s important to communicate your concerns and expectations about finances with your fiancé before getting married. This will ensure that both of you are on the same page and understand each other’s financial habits and expectations.
Regarding borrowing money, it’s important to evaluate the pros and cons of taking on debt. While borrowing money can help you achieve your goals, it’s also important to consider the interest rates and repayment terms associated with the debt. Taking on too much debt can be overwhelming, and it’s important to make sure that you can comfortably manage the payments.
It’s important to have an open and honest conversation with your fiancé about your concerns and to discuss your options for financing your down payment. You could consider saving more money before purchasing a home or exploring other sources of financing, such as loans or grants.
Remember, marriage is a partnership, and it’s important to work together to achieve your financial goals. Open and honest communication about finances is key to building a strong and successful relationship.
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Thanks @AdviceGuru
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