Here are a few points to consider when “mine” becomes “ours.”

1. Honesty: Always the Best Policy

Have an open and honest discussion about your current personal finances, financial goals, spending habits, and general outlook on spending and saving.

Now that you’re successfully hitched you can disclose how much those adorable sun-bleached highlights cost.

2. Divide and Conquer

Decide who will handle paying the bills every month and who will handle the investments. While you both can have a say—and absolutely should—one person should have the responsibility for doing it.

3. Merging the Empire: Things to Think About

Are you going to combine everything?

Will some accounts to remain separate?

Will the majority of each of your paychecks go into one combined account for expenses?

What percent each month will go into a joint savings account?

Will a certain percentage of your paycheck go into your own individual accounts?

4. Talk About the Big Purchases

For example, agree on a household guideline that any potential purchase over $300 should be discussed first.

It’s sometimes nice, even in marriage, to have small separate accounts. Think of it this way—the ladies may never get how a round of golf can cost $200; nor will the men understand how two cotton T-shirts can total $200. When it’s little stuff, what we don’t know can’t hurt us—and may save us from unnecessary squabbles.

5. Save, Save, Save

You should have 8 – 12 months worth of salary in a savings account in case the unforeseen happens—such as job loss or a big emergency. A general rule of thumb is to live off 80% of your income while saving or investing the other 20%.

6. Have Fun!

You just tied the knot and should enjoy the time together without the stress of money and finances.  So, make sure you get things squared away from the get-go, and it will be smooth sailing!