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The honeymoon period, generally considered the first year of marriage, is filled with some of life's most precious moments. Growing closer to your true love, building a home together and understanding the deeper meaning of companionship.

Given the love fog, its easy to avoid the tougher moments of day-to-day life. Finance tends to be a subject are that couples dodge and evade, which can lead to dysfunctional patterns that undermine a marriage.

I have some great tips to share with you today to help make your marriage a financial success from Michael Levenson, the CEO of Present Value – a new cash gift registry site! Without further ado, here are Michael's Money Tips for Newlyweds:

4 money tips for newlyweds

1. Don’t keep any financial secrets.

This concept may sound simple but, surprisingly, many couples keep money secrets. The sad reality is that finances can easily become a major stressor in a relationship and is often the cause for divorce. By keeping the money talks open and honest, you’re building a solid foundation from this day forward!


2. Keep separate bank accounts and create one joint account.

By starting the money conversation with, “let’s open a joint bank account,” you’re laying your financial cards on the trust table. Together, you’ll figure out how it will work as you combine your two lives. For example, along with depositing your cash wedding gifts, you may each contribute a set amount from every paycheck, and use the balance to pay joint housing bills.It’s also a good idea to have money in separate accounts. This will allow each of you the freedom to spend without the pressure of those funds having an impact on your joint finances.


3. Handle debt as a couple.

It is important to have the conversation about debt as far in advance as possible. Even if only one of you has debt, it will very likely impact your bottom line as a couple. If you’re planning to make a major purchase, like a house or a car, your debt will play a significant factor in determining if you can get a mortgage or car loan. Figuring out a plan together will not only help pay off the actual debt, but it will work to keep a healthy relationship as a married couple.


4. Ask family and friends to contribute your financial goals.

This may sound obnoxious and rude, but in reality, it’s not. Your loved ones often find cash gifts easier and more personal than a blender or toaster. And frankly, given the economy, everyone understands the value of a dollar these days and they want to contribute to your long-term financial success. With mounting debt in planning a wedding and setting up your lives beyond the big day, it’s become increasingly common for couples to ask for money.On a more practical side, most couples already have the gifts on a traditional registry. No one needs two coffeemakers sitting on the counter. By creating a registry, you’re making it even easier for your friends and family to make that green contribution!



Do you have any money tips for couples to share? Leave them in the comments below!


Another great read on this subject:

Are you financially ready to get married?

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About Jessica

Jessica is the creator of The Budget Savvy Bride; she launched the site in May of 2008, shortly after becoming engaged. Jessica has been recognized as a budget wedding expert by various media outlets and continues to share realistic inspiration and actionable tips to help brides save money on their weddings. Google

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  • Sami

    “It’s also a good idea to have money in separate accounts. This will allow each of you the freedom to spend without the pressure of those funds having an impact on your joint finances.”

    My fiance and I have talked candidly about finances and we are committed to starting out with joint accounts at least to start. Whatever one of us earns belongs go both of us, just like whatever one owes is owed by both of us. We see it as a matter of trust and unity.
    I understand that others choose to do things differently in ways that make sense to them and their situations, and that’s great. Heck, we might choose to do things differently in the future.
    Nevertheless, hearing this vendor suggest that the money that one chooses to keep in a separate account might not affect the couple’s joint financial health seems shortsighted at best.
    Maybe I’ve misunderstood. Can we get some clarity on what Mr. Levenson meant by that?

    • I believe he is suggesting that you have BOTH a joint account for shared expenses and then separate accounts for your budgeted “fun” money. Many couples choose to do things this way so that you don’t have to feel guilty about going out to eat with your girlfriends or buying a cute new top and your husband is free to use his designated funds for his hobbies / social outings / shopping as well.

      • Sami

        That makes a lot more sense. Thanks for the clarification.

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