For Richer, For Poorer

Five summers ago, I was planning my own wedding, finalizing details, coordinating schedules, taking care of guests, and everything else in between.  Planning your wedding day is a lot of work, but what about planning for your marriage?  Problems can stem from disagreements with money and finances.  Tying the finances is an important part in planning for your marriage.  So where do you start?  My best advice: TALK.  Chances are that how your parents look at money and the habits they have will be similar to yours.  Are you a saver (like me) or a spender (like my husband)?  Talk about what’s important to you and the goals you have.  A nice house?  Vacations (domestic or abroad)?  What about with kids – private or public school?  Do you view debt as his debt or her debt or our debt?  

I’m not going to tell you there’s a right or a wrong way to approach money in a marriage.  You just need to communicate with each other and make sure you have a system that works for you.  Some couples use budgets, some use an envelope system, some don’t use anything at all. 

Next week we’ll look at my budget system and in the following weeks I’ll provide some tips that every newlywed couple should look at.