3 Tips for Coupling Finances
The more you communicate with your partner, the better your chances of living happily ever after.

Studies show that regardless of a person’s income level, fights about money are among the biggest frictions in a marriage and top contributors to divorce. People often see financial success differently; however, there are things you can do to ensure that friction is minimized, so that you can spend more time doing the things you love and building a life together. Whether you just embarked on a lifelong journey with your significant other, or plan on saying your “I do’s” in the forthcoming years, below are my financial recommendations for a happier union.
Communication Is Key. I’ve been in this industry for years, and yet I’m still surprised by how many people don’t discuss finances with their partners. While some simply prefer not to talk about money, others just don’t know how to go about it. It’s important to note, however, that keeping the financial lines of communication open is essential for success.
There are plenty of ways to communicate about money. For one, having an ongoing financial check-up on the calendar—whether it’s weekly, monthly or even semi-annually—is a great way to touch base and check on current fiscal affairs. In our house, we call it a financial round table, where my wife and I sit down together and discuss our financial situation. We identify goals and get a clear sense of where we are financially and where we want to be in a month’s time or in five years. Doing so can go a long way to ensure both people are working toward the same goals and minimize any spending and savings miscommunication.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Couples That Save Together, Stay Together. In addition to hosting a recurring financial round table, I recommend having a budget in place and a plan for saving as a couple. Even if your idea of saving and your contributions may be different from your partner’s, putting a plan together on how to budget your expenses and save toward common goals can minimize misunderstandings and, in turn, conflicts over money.
Creating a family budget starts with aggregating your revenues and writing down every possible expense, including a line item for savings, allowing for miscellaneous items that may come up unexpectedly. It doesn’t matter if you are allocating $10 or $1,000 to savings monthly as a start—the important thing is that you’re saving and growing those contributions together.
Also, if you have big plans ahead, such as a new baby, a trip or continued education, you can create an additional savings account with that purpose in mind. That way you won’t be dipping into your core savings and maximize the interest on those funds.
Go Mobile. Not everyone is born with a knack for managing finances, and even those who are often find themselves too busy with life to handle day-to-day money moves. The great news is, there are now a number of easy-to-use, on-the-go tools that can help with personal finances. From mobile banking to financial apps that organize your cash flow or automatically move money into your savings account, it’s no longer necessary to invest a significant amount of time and energy to understand your current financial well-being.
It’s a lot easier to ignore your personal finances then tackle them head-on, but as you start sharing your life with someone, it’s best to set yourself up for success from the beginning. Your finances are a big part of your life, and as you take that next step with your soon-to-be husband or wife, know that the more you communicate and work toward the same financial goals, the less the risk of misunderstanding and the greater chance for a happy union—personally and financially.
QUIZ: Are You a Money-Savvy Couple?
Taylor Schulte, CFP® is founder and CEO of Define Financial, a San Diego-based fee-only firm. He is passionate about helping clients accumulate wealth and plan for retirement.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Taylor Schulte, CFP®, is founder and CEO of Define Financial, a fee-only wealth management firm in San Diego. In addition, Schulte hosts The Stay Wealthy Retirement Podcast, teaching people how to reduce taxes, invest smarter, and make work optional. He has been recognized as a top 40 Under 40 adviser by InvestmentNews and one of the top 100 most influential advisers by Investopedia.
-
Four Surprising Signs You’ll Never Retire (and How to Fix Them)
Gearing up to retire? If any of these four signs ring true, you may want to make some changes before you do.
-
Stocks Rise After Trump-Powell Fed Tour: Stock Market Today
Nvidia hit a new all-time high intraday, but another renowned semiconductor name and some less iconic stocks were bigger movers Friday.
-
From Piggy Banks to Portfolios: A Financial Planner's Guide to Talking to Your Kids About Money at Every Age
From toddlers to young adults, all kids can benefit from open conversations with their parents about spending and saving. Here's what to talk about — and when.
-
A Financial Planner's Guide to Unlocking the Power of a 529 Plan
529 plans are still the gold standard for saving for college, especially for affluent families, though they are most effective when combined with other financial tools for a comprehensive strategy.
-
Are You a Doormat at Work? The Hidden Cost of Excessive People-Pleasing
I talked to the author of the upcoming book 'Fawning,' and she explains how the 'fawn' response can lead to blurred boundaries, difficulty asserting needs and a loss of self, with serious emotional consequences like anxiety and PTSD.
-
How Advisers Can Rev Up Sales With Medicare
Help boost your revenue stream by integrating Medicare solutions into your financial practice for long-term client value and profits.
-
Do You Need Flood Insurance? I'm an Insurance Expert, and Here's Where You Can Get It
Standard homeowners insurance does not cover flood damage, so you might need separate flood insurance, which you can get either through FEMA or private companies. Here are the details.
-
I'm an Investment Professional: These Are the Three Money Tips I'm Giving My College Grad
College grads can help set themselves up for financial independence by focusing on emergency savings, opting into a 401(k) at work (if it's offered) and disciplined, long-term investing.
-
Five Big Beautiful Bill Changes and How Wealthy Retirees Can Benefit
Here's how wealthy retirees can plan for the changes in the new tax legislation, including what it means for tax rates, the SALT cap, charitable giving, estate taxes and other deductions and credits.
-
Neglecting Car Maintenance Could Cost You More Than a Repair, Especially in the Summer
Worn, underinflated tires and other degraded car parts can fail in extreme heat, causing accidents. If your employer is ignoring needed repairs on company cars, there's something employees can do.