5 Financial Tips for Newlyweds


Talk About It

Practice saying this phrase: "Let's talk about it."

This sentiment may be the most important one in your life together, and it's crucial in your new financial situation. Unfortunately, many couples leave financial discussions for some future time when they become unavoidable -- in a crisis, or when someone makes a major purchase solo, or when long-buried debt suddenly comes to light.

Money can be an awkward topic. It's personal and the very opposite of lovey-dovey. But the time to talk is now -- perhaps not on the honeymoon, but as soon as you get back home and settle in. The glow of your new life together can actually help here, since you may be more inclined toward financial compromise or a general generosity of spirit than later on, when life goes back to being life with all its stresses and distractions.

Set aside a couple of hours, sit down with a pad of paper, your bank statements and other financial documents and dig in. You don't need to address everything immediately, but getting started early is important to the practical success of your marriage.

As is the next tip on the list ...