As engaged couples get caught up in the excitement of upcoming wedding bells, financial topics may not rank as high on the to-do list as planning the reception, ceremony and honeymoon. But it should. Having some dialogue about budgets, savings strategies and insurance policies before walking down the aisle will help to promote the "happily ever after" couples are hoping for.
Although conversations should be forthcoming and ongoing throughout a marriage, this first discussion should focus on organization. Schedule time on a Sunday afternoon at the kitchen table to discuss pertinent questions. For instance, will there be a joint checking account or separate ones? Will one person manage the budget and pay the bills?
Budgeting upfront is also essential. Draft a budget by putting expenses and financial goals onto paper. Keep it realistic so it won't require much effort to stick to it. Partners should be comfortable with each other's spending and investment habits.