Your Checklist for the Money Talk Before Marriage

Take control of your financial future together-lay the groundwork before you say “I Do.”

Talking about money before marriage is essential, yet many couples shy away from it. Financial stress is a leading cause of tension in relationships and often plays a major role in divorce. For many couples, money becomes a recurring source of conflict. Use this practical checklist to guide your financial planning before marriage.

Have the Money Talk Before Marriage

Start the conversation early. Discussing finances before marriage reduces stress after the big day and sets the foundation for your new life ahead. Talk about budgeting for major expenses like your wedding and first home.

Be Transparent About Debt

Debt can be a huge stressor in any relationship. Whether it is student loans or credit card balances, share your financial obligations openly. Transparency helps you both create a realistic budget for upcoming milestones, like your wedding!

Start Budgeting as a Couple

Decide how to manage your current bank accounts and whether you will merge them. Categorize your expenses like fixed costs, entertainment, and savings, and set specific goals for each. Make it a habit to check in monthly to discuss your budget and track your progress. With online banking tools, managing your finances and budgeting has never been easier. 

Plan Your Financial Future

Retirement seems like a long way away, but thinking about the long term for your life is key to a happy life. Discussing retirement savings is very important before getting married to ensure you are on the same page as your partner. Will you invest early to build a solid nest egg? Another thing to talk about is your goals for raising children. Will you buy their first car or fund their college education? These decisions shape your financial future. 

How To Combine Finances After Marriage

Explore your options. Joint bank accounts for couples are a popular approach, but you’ll need to decide whether to keep personal accounts too. Finding the best setup for your bank accounts is key to managing your money together. Talk to your financial institution to learn how to open a joint checking account.   

The information provided in these articles is intended for informational purposes only. It is not to be construed as the opinion of Central Bancompany, Inc., and/or its subsidiaries and does not imply endorsement or support of any of the mentioned information, products, services, or providers. All information presented is without any representation, guaranty, or warranty regarding the accuracy, relevance, or completeness of the information.