Starting Out

Early in your relationship, it’s smart to have a conversation about your respective spending and saving habits. This will help determine whether you want joint or individual checking accounts, as well as other banking arrangements. This is also a good time to discuss debt, prenuptial agreements, and what your savings goals are.

Figure out your spending habits:

Figure Your Monthly Spending

Find ways to save more money:

Save More Every Week

Day-to-Day Finances

Designate one person in the family as the bookkeeper, but be sure to keep the other party involved. If something happens to the bookkeeper and the other person has no idea what’s going on, it could be trouble. Also consider whether you’d like to hire a financial planner. (Keep in mind that you don’t need to have a lot of money to take this step.) A professional can offer direction with investments, getting out of debt, and filing taxes.

Consider a financial planner:

Should You Consult a Financial Planner?

Long-Term

A financial planner can also help with long-term goals, such as saving enough for the kids’ college education and your retirement. It’s also a good idea to have a conversation with your parents about their estate plans while they’re still healthy enough to make their own decisions.

Save for college:

Saving for College

Save for retirement:

Saving for Retirement

Talk to your parents about their future plans:

Ten Questions for Aging Parents