Settling Into Blended Finances

Coach Suzanne details the life of a modern family. Being remarried involves a lot of blending; finances, child rearing and so much more.

Save Your Marriage & Money

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Sharing your life with someone usually means sharing finances and the headaches that come with them.

Marriage is a commitment on many levels: emotionally, physically, and financially. Being committed to your partner means being committed to your future together, and finances are a part of that.

As I previously wrote about communicating with your spouse about finances, having regular money discussions can help you develop a healthy financial future for your family.

So, here are my top twenty tips to help you stay connected as a couple and gain financial freedom together!

  1. Create and stick to a budget-- together.
  2. Work together towards financial goals--don't sabotage them with unnecessary spending. (Those trips to the mall could cost you your coveted vacation)
  3. Live by the mantra, "What's yours is mine and what's mine is yours."
  4. Don't forget to have fun together! All work and no play can be unproductive in any relationship, including the one you have with money.
  5. Support each other's decisions financially and otherwise.  (Remember you are in this life together).
  6. Know where important financial documents are kept. Unforeseen events may occur and being in the dark about a CD, Savings Bond, or investment account could cost your spouse. 
  7. Schedule a financial budget meeting at a park or your favorite restaurant instead of at home--a change of atmosphere can be liberating.
  8. Remember to give and take; it's not just about you and the new shoes you want anymore.
  9. Avoid personal loans from family members--it's just not worth the headache. Figure it out yourselves.
  10. Automate your finances so you can spend more time with each other instead of paying bills; added bonus: save money and the environment too!
  11. Consult each other on major purchases--set a limit (Say anything over $100 requires consult). You may save yourself from a $100 mistake.
  12. Create an emergency fund. You never know when you might need it, and a safety net to fall back on makes the blow of a job loss or medical emergency less painful.
  13. Set family guidelines for gift giving, grocery shopping, and entertaining.
  14. Purchase life insurance for both of you--don't leave your spouse burdened in the event of...well, you know.
  15. Cut out unnecessary expenses together; what's important to him (500 cable channels) may not be important to you, but consider his feelings first.
  16. Plan for the future: kids, college, and, retirement.
  17. Get a joint checking account and open separate accounts for "fun" money.
  18. Give each other an allowance--no questions asked spending money.
  19. Don't keep secrets, especially money ones.
  20. Never fight about money; it's not worth it and you'll be sorry you did! 

What are your tips for financially wedded bliss? Please share them in the comments!

  • This one is about my wonderful, dear, sweet, husband. He truly is wonderful and I adore him . . . when he is not acting like a lunatic.

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