How Should a Couple Handle Their Finances?

An honest conversation about spending, budgeting and debt could save you from financial headaches later in the relationship.

A couple hold a piggy bank between them.
(Image credit: Getty Images)

No matter how happy you are in your relationship, finances are a topic that may cause some strain between you and your significant other. But discussing your finances is an important conversation that couples most certainly should be having.

Financial problems are one of the main reasons why couples separate. According to a State of Personal Finance study from Ramsey Solutions, one in three people who are married say they have purchased an item and then hid it from their spouse, while 31% say they use a credit card their spouse doesn’t know they have.

If you’re ready to start having honest conversations about finances with your significant other, there are a few topics you should be sure to cover.

Tony Drake, CFP®, Investment Advisor Representative
Founder & CEO, Drake and Associates

Tony Drake is a CERTIFIED FINANCIAL PLANNER™and the founder and CEO of Drake & Associates in Waukesha, Wis. Tony is an Investment Adviser Representative and has helped clients prepare for retirement for more than a decade. He hosts The Retirement Ready Radio Show on WTMJ Radio each week and is featured regularly on TV stations in Milwaukee. Tony is passionate about building strong relationships with his clients so he can help them build a strong plan for their retirement.