Treehouse Wealth Advisors’ Post

Are you and your partner struggling to manage your finances as a couple? You're not alone. Many couples face challenges when it comes to money management, whether they're married or not. Combining finances can be a tricky subject, and figuring out how much to combine versus keeping separate can be even trickier. If you're looking for some guidance, check out this article. It delves into the common challenges that couples face when managing their money together.

Check out my 5 questions that I recommend you ask your partner, BEFORE you get married!

"Marry the right person" That is the financial advice that no one ever talks to you about, way in advance. Sometimes it appears a bit awkward when someone talks about who you marry as one of the factors to consider in your financial journey... Marriage is the most relational, consequential and financial decision we ever make. The partner you choose will determine where you live, what you spend on a daily basis, the vacations you take, the type of house you buy, the values you pass down to your children and many other financial elements that directly affect you as a family, including how you retire. Most couples only talk about money while fighting or during a crisis. Money talks for couples should actually be scheduled, and money should be talked about proactively and early enough. Ladies and gentlemen, step out for coffee dates with your loved ones and plan your financials. Ask questions. Many questions. Listen, and listen to understand not just to respond. This is deep, remember to remember. ✌️

Starting married life together is exciting, but... ... it's crucial to ensure you're on the same page financially. Here are five key questions to ask your partner BEFORE tying the knot: ❓ What is your income? ❓ Do you have any debt? If so, how much, & do you plan to pay it off? ❓ How would you feel about creating an intentional spending plan with me? ❓ Do you have any money goals? ❓ Do you have any financial concerns? Take it from me, open and honest conversations about money is a game changer for your relationship and your financial future! If you know of anyone who's just got married or is about to get married, be sure to share this post with them! Click on the link below to download an 'Intentional Spending Plan' for FREE today! It really helped us to see where our money was going & take control of our finances! #moneyandmarriage #personalfinance #moneyconversations #marriagetips #relationships #marriageadvice #relationshipadvice

Just married or getting married? This means new changes to your life and your financial situation. Let's talk about how this can impact your plan. https://lnkd.in/e_pYJikR

Whether you plan to merge finances after marriage or maintain financial separation, it's crucial for couples to engage in open discussions about money before tying the knot. Curi RMB Capital's Loren Knaster, CFA, CFP® shares guidance for navigating these crucial conversations in his new blog post. https://hubs.li/Q02DW9pw0

💍💸 Love & Money: Separate or Combined? Curious why some couples keep finances separate? Discover how maintaining financial independence can actually strengthen your relationship. From managing different spending styles to handling past debts, our latest blog post by Katy McDonald, CFP® reveals why separate accounts might be the way to go. 🔗 https://buff.ly/3A1b3nj #MoneyAndMarriage #FinancialIndependence #CouplesFinance #SmartMoneyMoves #WealthManagement #BrightonJones #LiveARicherLife

When my wife, Cara, and I were preparing to blend, it didn’t take us long to realize that we had some work ahead of us. You see, we each had a previous marriage and kids from those marriages (I had three, and Cara had two) whose ages ranged from 10-18 years old. We were both embracing the idea of being a stepparent to new kids and feeling uncertain about our approach to the future. To complicate things further, we came into the relationship with differing incomes, expenses, debt, and assets. For example, we each owned a home with differing levels of equity. These homes worked great for our single lives but couldn’t accommodate our new family of seven (plus two dogs and a cat)! We needed to find a way to align our financial circumstances with our growing and evolving family. Thankfully, there is a way to simplify and reduce the stress of blending your wealth so that you can focus on the joys of blending your family: the unified vision. To simplify your blended finances, you need to create some financial order, but that requires going beyond the numbers first. Going beyond the dollars and cents will help you and your family create a unified vision that will guide you toward successfully blending your wealth and your family. A word of caution: creating a unified vision for your blended family requires complete honesty with yourself and a willingness to acknowledge your situation and how you got here in the first place. It also requires listening to your partner and learning about their situation. While portions of these steps need to be done individually so you can fully understand your own circumstances, creating a unified vision requires both spouses to participate (that’s where the “unified” part comes in 😊). Doing this can help bring you and your family closer than ever.

When my wife, Cara, and I were preparing to blend, it didn’t take us long to realize that we had some work ahead of us. You see, we each had a previous marriage and kids from those marriages (I had three, and Cara had two) whose ages ranged from 10-18 years old. We were both embracing the idea of being a stepparent to new kids and feeling uncertain about our approach to the future. To complicate things further, we came into the relationship with differing incomes, expenses, debt, and assets. For example, we each owned a home with differing levels of equity. These homes worked great for our single lives but couldn’t accommodate our new family of seven (plus two dogs and a cat)! We needed to find a way to align our financial circumstances with our growing and evolving family. Thankfully, there is a way to simplify and reduce the stress of blending your wealth so that you can focus on the joys of blending your family: the unified vision. To simplify your blended finances, you need to create some financial order, but that requires going beyond the numbers first. Going beyond the dollars and cents will help you and your family create a unified vision that will guide you toward successfully blending your wealth and your family. A word of caution: creating a unified vision for your blended family requires complete honesty with yourself and a willingness to acknowledge your situation and how you got here in the first place. It also requires listening to your partner and learning about their situation. While portions of these steps need to be done individually so you can fully understand your own circumstances, creating a unified vision requires both spouses to participate (that’s where the “unified” part comes in 😊). Doing this can help bring you and your family closer than ever.

💑 "For richer or poorer" isn't just a phrase; it's a financial strategy! How you handle money together can significantly impact your marriage's success. Start by having open, honest conversations about finances. Set common goals, create a budget, and protect your family's financial future. Check out this article that outlines the importance of setting financial goals as a couple: 👉 https://loom.ly/qyFQ6og #FinancialGoals #FinancialPlanning #MoneyManagement