The month of June is near, and that means a lot of weddings are planned.
If a marriage is in your future, think about it as the union of your families and your finances.
Begin with conversations not so much about money itself, but about the things that matter to you.
You’ll find these are also your financial priorities.
For starters, make a list of short- and long-term goals.
These may include buying a house, growing your family, and even retiring early.
Check where your goals overlap and where some may be more important to one partner.
Next, discuss how you’ll blend your financial lives. Review assets and debts and how - or if - you’ll combine them.
There’s no one right answer.
The key is to agree.
You’ll also want to decide how to divvy up your financial responsibilities.
Who is responsible for bills?
Who files the taxes, and when will you consult each other on financial decisions such as large purchases - perhaps a car or a major appliance?
So start talking now - if you haven’t already - and set yourselves up for a lifetime of financial compatibility.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson, and Hawes Dickerson. Members SIPC.
