Money Management Basics for Couples

Money Management Basics for Couples

Budgeting

How much will you spend and save?

Agreeing together on a budget can help bring stability and clarity to your financial plan. Asking questions like how much will we keep in an emergency fund will help keep everyone on the same page and be prepared for the unexpected.

Regularly review progress.

Agree on a review schedule to keep both partners accountable and keep you both informed on financial status. It’s important that you both be on the same page when it comes to finances.

Protect your assets.

Create a plan using life insurance, wills, and trusts to protect each other and your assets from catastrophic events.

Consider meeting with professionals.

Working with a tax advisor can help with more complicated filing and potentially save money on taxes, find opportunities, and keep you compliant with the IRS. Working with a financial planner can help by creating a roadmap that uses financial tools and products that will help you reach your goals and dreams.