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As you enter into a long term relationship, it is important to step back and have honest and thoughtful conversations about your finances. There are 3 financial relationship types that set the guideposts for the majority of relationships.

Everyone develops their own relationship with money based on their own life experiences. When you join together these money histories, you can get fireworks if you are not careful! There are countless financial relationships and models that couples follow, but in the end, they boil down to three distinct types of relationships. Knowing which kind of relationship you are in will help guide your journey towards successful money management in your marriage.

Relationship #1 - Mutual Interest

In this type of relationship, both parties have an actual interest in helping to manage the money in the relationship. They can certainly have different levels of interest in managing the money and one partner tends to be the primary manager. The second spouse...

What is the Perfect Money Date?

Alright, so lets cut right to the chase. Time is precious, and you are wondering why would I ever spend time every month talking to my significant other about money? We know what we know, and this sort of conversation always leads to a fight. Why would I go and seek out a fight? I will tell you why you need the perfect money dates! When you schedule it, plan it, and make it fun, it no longer becomes a fight, it becomes an actual fun part of your lives. What if I could tell you that if you commit to a money date every month, for 6 straight months, your marriage will not only be marginally better, it will be thriving?

How Do I Do This?

I will be honest here. Marriage Money Plan was created because my wife and I had a need. We both entered our marriage well off from our careers, and had clear plans for support and how we handled money. But guess what? We never had the official talk of how we are going to handle OUR money. We both were handling our own...

1. What Are Your Financial Goals?

This may seem simple enough right? I mean, you are planning to get married to the love of your life, you have had "the talk" right? How many kids do you want, do you like to travel, etc. But have you honestly sat down and had an honest conversation about your financial goals? Do you know if your future spouse wants to live paycheck to paycheck? Will you fully fund your retirement savings every year? You both want to have a dedicated travel fund? Having this conversation will ensure there are no gotchas later in your relationship!

2. What Is Your Current Debt Situation

This may seem similar to question #1, but oh is it totally different! Your significant other may have similar long term financial goals, but secretly have $30,000 in credit card debt they are bringing into the relationship! These questions do not need to be show stoppers with the relationship, but you are marrying not only your partner, but your partners current financial situation. So...

To Combine Finances Or Not After Marriage

When two people start their lives together, many conversations are had on how to intertwine their lives. But does this mean the finances of the couple should become one all the time? Back in the good old days, this was a given. If you get married, they issue you a joint banking account with your marriage license! Times certainly have changed, and this is no longer the default, or even the correct option for couples just starting out. The big question still remains. How do we decide how to handle our finances once we are married? We will touch on the most popular methods of handling money in relationships and the Pros and Cons of each.

Completely Combining Finances

If you have spoken with your future or current spouse and have decided that combining finances will be best for your relationship, suit up and take the plunge! In some aspects, this is the easiest path forward, and leads to the fewest fights, issuers, and hidden money issues that...