Money is one of the biggest sources of stress in relationships—but it doesn’t have to be. Whether you’re newlyweds or have been together for years, having open, honest, and strategic conversations about finances can strengthen your relationship and your financial future. Here’s how to build a money management system that works for both of you.

1. Start with a Money Date

Set aside time for a financial check-in—call it a “money date” to make it less intimidating. Pour some coffee (or wine) and have a relaxed conversation about:

• Your current income and expenses
• Debts and savings
• Short-term and long-term financial goals
• Money values and any financial concerns

This isn’t about judgment—it’s about understanding where you both stand. If you’ve never had a structured money talk, start with sharing your financial priorities (e.g., paying off debt, saving for a house, investing more) and work toward a shared plan.

2. Decide How to Structure Your Finances

Couples manage their money in different ways, and there’s no one-size-fits-all solution. The key is finding what works for both of you. Here are the three main approaches:

• Fully Combined Finances – You merge everything into joint accounts and pay all expenses together. Best for couples with similar money habits and financial goals.
• Partially Combined Finances – You keep some accounts separate but share joint expenses proportionally or equally. This works well for couples with different incomes or spending styles.
• Completely Separate Finances – Each partner maintains separate accounts and splits bills as agreed. This can work, but it requires clear communication to avoid financial friction.

If you haven’t already, open a joint account for shared expenses like rent, groceries, and utilities. Set up direct deposits or automatic transfers to fund this account based on your agreed-upon contributions.

3. Create a Spending Plan (Not Just a Budget)

Instead of a restrictive budget, think of it as a spending plan that aligns with your priorities. Together, decide:

✔ How much to allocate for essentials (housing, bills, groceries)
✔ How much to save and invest (retirement, emergency fund, big purchases)
✔ How much each person gets for personal spending (no questions asked!)

Having clear guidelines ensures that both partners feel financially secure while still having individual freedom.

Use budgeting apps like YNAB, Mint, or Monarch Money to track spending together. If you’re a Verde client, you have a built in budget tracker on your Verde Client Website. Set up a monthly review to adjust as needed.

4. Divide and Conquer Financial Responsibilities

Managing money together doesn’t mean one person should handle everything—unless that’s what works best for you both. Instead, divide financial responsibilities in a way that feels fair and effective.

For example:

• One person handles bill payments, while the other tracks investments.
• One manages short-term savings, while the other focuses on long-term planning.

The key is making sure both partners stay informed about where the money is going. Set up a shared spreadsheet or use your Verde Client Website as a financial dashboard so both of you can see the big picture at a glance.

5. Align on Long-Term Financial Goals

It’s not just about paying the bills—it’s about building a future together. Some key questions to discuss:

• How much can we save for retirement?
• When do we want to buy a home (or upgrade)?
• What big purchases or vacations are on our list?
• Do we want to start a family, and what financial steps do we need to take?

Aligning on long-term goals ensures that your daily spending and saving decisions move you closer to the life you want. Create a joint financial vision—write down your top 3-5 long-term goals and set milestones to track progress.

6. Build an Emergency Fund Together

Life happens. Having an emergency fund gives you both peace of mind when unexpected expenses arise (medical bills, job loss, car repairs).

Aim to save 3-6 months of living expenses in a high-yield savings account. If you don’t have this yet, start small—automate a portion of each paycheck into your emergency fund. Open a high-yield savings account, like the Verde Flourish Savings Account, and set up an automatic transfer every paycheck.

7. Plan for Debt & Credit Together

Debt can be a sensitive topic, but tackling it as a team strengthens your financial position. Whether it’s student loans, credit cards, or personal loans, have a game plan for paying it down.

Key steps:
1. List all debts (balances, interest rates, minimum payments)
2. Decide whether to use the debt snowball (smallest first) or debt avalanche (highest interest first) method
3. Avoid taking on new debt unless it aligns with your goals

Schedule a meeting to review your debts and decide on a repayment strategy together.

8. Don’t Forget About Estate & Insurance Planning

It’s not the most romantic topic, but estate planning and insurance protect both of you. Every couple should:
✔ Have life insurance to cover income loss in case of an emergency
✔ Name each other as beneficiaries on financial accounts
✔ Set up a basic estate plan (will, power of attorney, healthcare directives)

If you don’t have a will or life insurance, talk to your Verde Advisor about your options.

9. Keep the Money Conversations Ongoing

Finances aren’t a one-time discussion—they evolve as life changes. Make money talks a regular habit to check in, adjust, and stay on the same page.

Try:
✔ Monthly Money Check-Ins – Review expenses, savings, and goals.
✔ Annual Financial Reviews – Look at long-term goals, tax strategies, and investment performance.
✔ Dream Planning Sessions – Talk about future aspirations, like early retirement or buying a vacation home.

Love & Money Can Work Together

Managing money as a couple is about teamwork, not tension. With open communication, shared goals, and a clear financial plan, you can build a future together that reflects your values and dreams.

Need help structuring your finances as a couple? Verde Capital Management can help you create a personalized financial plan that aligns with your goals. Reach out to us today!