couple disagreementPlanning for your own future has its challenges. When you get married and combine your plans as a newly married couple, the challenge can be intense. Disagreements about finances is a big problem within some marriages, so getting the issues out in the open beforehand can help minimize these potential disagreements. Talking about finances before you get married is a great way to start your life together on the right path. Discuss your financial situation, assess your goals, and determine the best plan for your future together.

While working on this financial plan, here are some tips.

Align views on money

You have developed habits based on your personal views regarding money, and these might not be the same ideas that your spouse has developed. Your views are based on your own life experiences and the influences in your life. You might have taken a financial management class or taken a cue from your parents. These views are an indication of how you save, invest and spend, for both short term and long term issues. Talking about these views can help you and your spouse understand each other’s views on money and how you will manage your money in the future. It is not that uncommon to see newly married couples have at least three accounts – two single and one joint.

black couple weddingCreate short-term and long-term goals

Goal setting and life planning are keys to a successful marriage. It’s one thing to align your views and quite another thing to make sure you understand each other’s goals to adequately plan your lives together. Remember to discuss timelines on your goals so you can differentiate between short-term and long-term goals. Some of the important questions to ask about include starting a family, purchasing a new home, career goals, and if one person plans to stop working when you start a family.

Evaluate financial commitments

Now that you have your goals out there in a plan, you will also need to be realistic. Discuss your current financial situation and the commitments you’ve made regarding finances. Full disclosure is critical to build trust and work in a married partnership. If you already have student loans, a car payment, credit card debt, child support payments, or other commitments, these existing responsibilities will impact how much money you’ll be able to spend and save as a couple.

Be clear about what expenses are whose

You are going to have different spending habits so it is important to agree on what you will consider joint expenses and what you will consider individual expenses. Be upfront and honest about the things that get taken out of each type of account. Differentiation requires trust and responsibility. It can be complex when there are responsibilities from a previous marriage, student loans, existing mortgages and credit card debt. You want to agree on the amount of discretionary money you will each have after the essentials are paid and savings are put aside. It usually works best if that discretionary money is divided in equal amounts for fairness, regardless of income divisions between you and your spouse. While moving forward after marriage, combining your finances into a single financial plan will help build a stronger relationship founded on trust and respect.


You don’t have to be married to start planning for your lives as a married couple. For assistance in making the best financial decisions and planning for your short-term and long-term goals, get help from a financial planner. Find out more by contacting us at (770) 658-9440.