Getting Married--Get the Party Started Right

Getting married poses many money management considerations for you and your significant other. Is one of you a spontaneous spender and the other a planner and a saver? Will you pool your money or keep separate accounts? If you come to consensus on these and other questions before saying "I do," the course of true love is more likely to run smooth.

Getting started

Discussing your attitudes about money early on will help prevent later disagreements. Talk with your partner about how you approach handling money, addressing questions like:

  • What each of you spend money on
  • How much each of you should be able to spend without consulting the other
  • Risk tolerance when it comes to investing and investment goals
  • How you each feel about using credit
  • Appropriate uses of credit
  • How much debt is too much
  • Career goals
  • Savings goals
  • Spending plans

Accounts: Joint--or not?

There are several different ways you can combine funds, so have a talk and figure out what will work best for you and your significant other. Some individuals keep their financial accounts separate and decide who will pay what expenses.

Others open a joint account, but each spouse also keeps a separate account to maintain some independence, and the two agree on how much each will contribute to the joint account.

Still others pool all of their money in shared accounts. If you structure things one way and find it isn't working, you can always mutually agree to change your method later.

From opening accounts to helping if you have financial trouble, Harvard University Credit Union is here for you--for better or worse. Stop by any of our branch locations, email us or call us at (617) 495-4460.


Return Home