We have come up with ways to ensure a financially successful union.

1. Make A List OF Your Expenses

This includes regular monthly costs (like rent, groceries and the gym), major purchases you hope to make (like a new car or flat screen TV), occasional expenses (like clothing, restaurants and iced lattes), and a bit of padding for expenses you can’t account for.

2. Set A Money Date

That is, schedule a time to talk about your finances. If you can’t do this, well, you’re stuck before you can really start. You may want to bring in a third party — a financial planner or therapist — to help you move forward. At the money date, go over each person’s list and decide which are joint expenses and which are not.

3. Decide Whether Or Not You Want To Merge Finances

If you do, go to #4. If you want to keep your finances separate, make sure you agree on which expenses are definitely joint and how you want to split them. Are you going to keep everything 50/50, or split it another way? After you’ve nailed down how you’ll divvy up shared expenses, skip to #6.

4. Set Up A Joint Bank Account

Direct all your money into this account and pay shared monthly expenses from here.

5. Set Up Four Other Accounts

And decide how much money you want to go in each: long-term investments, short-term shared (movies, travel, emergencies), and two personal accounts for individual, non-shared money. On this last set of accounts you can each receive an equal amount or split it depending on how much each of you contributes.

6. Don’t Criticize

This is the last, and most important step. Don’t criticize how the other person spends his or her money!

Giztzzz…                  mAdE t.V!



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