Moneyadviceblog » Money » Money and Marriage: Financial Tips for a Financially Happy Marriage

Marriage is not only about having fun and exciting interactions. Once the honeymoon phase is over, money enters the picture.

So, if you want your financial happily-ever-after, here are some valuable tips.

Tip 1: Understanding Each Other’s Money Personality

Money Personality

Your spouse might be a good kisser but they might not be fiscally responsible. Marriage is a sort of financial commitment, where you need to know and understand each other’s perspectives and behavior towards money.

Once you know your beloved is a saver or spender, you would know what to expect, the compromises you need to make and of course, there would be no room for any unpleasant surprises.

This financial checkup is usually recommended before you walk down the aisle so as you can get a good financial picture that will allow you to make better decisions after you get married.

Tip 2: Share Your Financial Secrets

Financial Secrets

Have you shared what you own with what you owe to your partner?

From your income to your debts, you need to share every little thing. For instance, assets may include savings accounts, while liabilities include student debt, credit card balances and a business loan.

Why are all these details important?

Because to quote Debra Greenberg, “when you marry someone, you are combining your assets, but that also means you will be taking on each other’s debts.”

In other words, if required, you may have to work together to get the debts paid.

Tip 3: Set Your Financial Goals Together

Financial Goals

The key to good financial health and marital bliss is to brainstorm dreams and goals together, whether short-term or long-term.

Here are some examples:

  • How will you budget your daily household expenses?
  • How will you split living expenses and bills?
  • Will you buy a house?
  • What are the ways you can pay off your debts?
  • How will you handle financial emergencies?
  • Discuss savings and investment strategies

Now, don’t limit yourself to the present and be curious about your spouse’s desires, for instance:

  • Do you want to buy a second house?
  • Do you want a new car?
  • Do you want to go on vacation?
  • What about retirement wishes?

Tip 4: Create a Budget Plan

Budget Plan

A budget plan can help you to make sure you always have enough money for the things you need and can also help you to work your way out of debt.

Create a good spending plan for your goods, take-outs, entertainment and personal expenses, including your bills, debt obligations, irregular expenses and money for your emergency fund.

Tip 5: Identify Needs vs. Wants

Identify Needs vs. Wants

Along with your spouse, determine what your needs are and your wants as a married couple. It is important for both of you to agree on what you can live and can’t live without so as compromises can be made.

Tip 6: Find a Money Management Strategy That Works

Money Management Strategy

Here are some financial strategies that many couples choose to go with:

  • Keep their finances separate
  • Combine finances completely
  • Choose to live off one spouse’s income and save the other’s income

Based on your financial goals, it is totally up to you to devise a strategy that can help you better manage your finances.

Tip 7: Decide Who Manages What

Decide Who Manages What

Another critical element in handling finances is to decide the role each of you will play.

Suppose you earn a higher salary. You might then want to take the responsibility of housing costs, long-term investments and retirement plans while your partner tackles the day-to-day bills.

Tip 8: Treat Family Finances as a Business Matter

Family Finances

Just like business partners, you can set up financial business meetings at least once a week. It can be a quick 10-minutes meeting or a bit longer.

Instead of your home, you can also have the meeting in the nearest coffee shop.


People say money cannot buy happiness. But, when it comes to securing a happily married life, doesn’t money play an important role?