10 Tips for Managing

Money in Your Marriage

When you get married, you need to discuss how you plan to manage your money within your marriage.

ou and your spouse may be coming at your finances, spending, and saving habits from completely different backgrounds and experiences. This makes managing money as a married couple a little tricky, especially as newlyweds. That’s why we’re giving you 10 tips for managing your finances as a couple.

Money and marriage

It’s important to get your history with money out in the open. Talk about how you grew up feeling about money, how your parents handled their finances, your first credit card, your spending habits – get it all out in the open.

1. Talk About Your History with Money

Start by writing down your combined monthly income. Then calculate your household expenses such as rent/mortgage payments, gas, debt repayment, groceries, utilities, and insurance.

2. Make a Budget

As a newly married couple, will you be sharing a bank account or keeping your finances separate? Will you keep separate accounts and add your partner’s name to a shared account? Who will be responsible for which bills and expenses?

3. Discuss How to Merge Finances

Make a long-term plan for how you want to manage your finances as a couple.