Steps for combining finances
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This document outlines key steps for combining finances after marriage, emphasizing the importance of open communication about debts and regular financial discussions. It suggests considering a joint bank account to simplify shared expenses and encourages couples to set mutual financial goals. The guidance provided is general in nature and should not be considered as professional financial advice.
Steps for combining finances
- 1. Steps for Combining Finances After Marriage
- 2. There’s no one right way to combine finances — or not — when you get married.
- 3. Here are three steps that can help you through the process.
- 4. Talk It Out
- 5. Before you get married, be fully open about any debt you have, and schedule regular meetings to maintain communication.
- 6. Continue the money conversation throughout your marriage.
- 7. Consider a Joint Account
- 8. Contributing to a joint bank account can simplify paying for shared responsibilities like a mortgage.
- 9. Each of you can contribute equally or based on your income.
- 10. Savings Debt Emergency Set Goals Together
- 11. Form financial goals as a team. For instance, you might prioritize: • Savings • Paying down debt • Creating an emergency fund Savings Debt Emergency
- 12. Every couple’s path to successful money management is unique. Tailor these tips to your situation to start on the right track.
- 13. © 2015 Regions Bank This information is general in nature and is provided for educational purposes only. Regions makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any information presented. Information provided should not be relied on or interpreted as accounting, financial planning, investment, legal, or tax advice. Regions encourages you to consult a professional for advice applicable to your specific situation. The LifeGreen color is a trademark of Regions Bank. Insights by Regions. Tools, tips, and calculators to help you confidently manage your money and move your life forward. regions.com/insights