Good Financial Reads: Managing Money as a Couple

If you ask 10 different couples how they manage their money, you’ll probably get 10 different answers… including something along the lines of “We don’t. Budget? What budget?”

Let me go ahead and say that might be the only wrong answer here.

For couples, deciding how to manage money is a personal decision. You should make the decision that works best for you and your spouse. There is no objective “right answer” to the question “Should you keep your finances separate or manage them jointly.” It depends on the context of your relationship.

Romance is in the air for Valentine’s Day, and we encourage you to check out our recently released Personal Finance Module titled Romance and Money. Here’s a free preview with a downloadable Money Date Guide at the bottom!

Planning money with a partner involves trust, patience, dedication, understanding, and the ability to communicate. We commonly discuss how to improve your personal relationship and psychology with money. Now it’s time to become a team player. Remember these common phrases:

For most, retirement planning involves looking at the future for a two-person household. Many couples have a tough time talking about money. (See this blog for some help getting the conversation started.) While they may enjoy talking about retirement and the wonderful things they will do once they stop working, they don’t talk much about finances.