Money Management Tips for Committed Couples

Wednesdays | 3 p.m. ET#CreditChat

Money Management Tips for Couples

Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we discussed how to manage money whenin a committed relationship.“

Check out the video and resources shared:

ex.pn/couple-chat

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When should a couple start talkingabout money and credit?

Tweet by @HisAndHerMoney

Money conversation should begin when long-term plans start to be discussed.

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Every BF/GF doesn’t need to know your business.

Tweet by @GraceKvantas

Being financially compatible is important for couples to consider

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and discuss early in a relationship.

Discuss money way before you say the words “I DO” Tweet by @NikkoGrant

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when things get serious is definitely a good idea.

It depends on the relationship, of course, but being honest & open

Tweet by @AmericaSaves

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Tweet by @BWFeldman

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You should start talking about money when you start imagining a long-term future together.

Don’t need to share your credit score on the first date.Tweet by @KatieBissell

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Finances are just as important as STD tests, coming clean about kids,

Tweet by @DeeOnMoneyZA

and past relationships (that can have an impact).

When things get serious!

Tweet by @JJ_USAA

You should understand how your potential partner handles money.

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Tweet by @DeeOnMoneyZA

As soon as you start talking about possibly merging your lives.

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Couples & money don’t need to be like oil and vinegar.Tweet by @HerOwnNet

Tweet by @mikedelgado

so there are no surprises later.

Couples should talk about their financial situation early,

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What are some financial challengesa couple can have when living together?

spend, budget, and align their financial goals. Tweet by @Quizzle

It’s difficult when couples have different ideas about how to

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A big challenge would be different outlooks on how money is spent. Tweet by @DeeOnMoneyZA

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What works for one couple when it comes to money may

Tweet by @JJ_USAA

not work for another couple.

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Deciding how bills will be paid, who will actually pay bills,

Tweet by @SenseOfCents

whether finances will be joint, and more.

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Retaining some individual spending freedom can relieve some of the tension that can build up in joint budgeting.

Tweet by @AmericaSaves

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to help avoid conflicts and set expectations right off the bat. Tweet by @Magnify_Money

Discuss money and budgeting before moving in together

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Agreeing on a budget. Some people underestimate

Tweet by @LeslieHTayneEsq

how much they might need to alter their spending habits.

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Not realizing how much our parents spending and saving habits influence us.

Tweet by @Annuity_Org

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Should committed couples mergetheir finances? Pros/Cons?

Merging finances for couples eliminates the blame game and forces more honest communication.

Tweet by @CSmithRaleigh

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Merging finances can build intimacy and trust in marriage. Tweet by @Annuity_Org

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accounts are joint or separate. Tweet by @Magnify_Money

There should be complete transparency, whether or not

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is so important because life happens & people change.

Experience has taught me that having my own money and independence

Tweet by @DeeOnMoneyZA

there is more reluctance to merge finances.

My experience is that couples where the wife makes more

Tweet by @MelSmithJones

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and accountability in spending.

Couples merging finances allows for transparency

Tweet by @GraceKvantas

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How should couples work togetherif one partner has debt or credit problems?

Is it just student loans or an addiction to shopping?

Be sure to address the underlying reason for the debt.

Tweet by @Magnify_Money

Biggest mistake couples make can be summed up in two words: No Budget.Tweet by @HisAndHerMoney

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Discuss it, reduce expenses, and keep good partner’s credit separate. Tweet by @MoneyTalk1

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Celebrate the wins. Don’t just talk about the bad money stuff. Tweet by @CarefulCents

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Never good for couples to blame each other for overspending.Eye roll responses complicate even further.

Tweet by @CSmithRaleigh

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Talk about money at least monthly, but could be daily. Make sure

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Tweet by @JJ_USAA

talks are regular & not just when triggered by financial crisis

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Any final tips to help coupleswith their money management?

Tweet by @RunnyMedeCap

Couples need to initially set the goal to communicate about financial issues. Then budgeting, debt, investing ...

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Tweet by @HisAndHerMoney

Couples should make debt elimination their top priority. It will free them to do so much more.

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Talk about money. Don’t be shy. Even if you’re in a sticky situation, your partner should know.

Tweet by @DeeOnMoneyZA

Tweet by @Frostbe

Set goals and check them off as you achieve them.

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If you got in debt as a couple, work together to get out.

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Check out all the resources and tips shared:

bit.ly/couple-chat

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