Northwestern Mutual

Considering moving in together or getting married? Make sure you and your partner discuss these five questions to make sure you’re both on the same page for finances.

  1. WHAT’S YOUR PLAN?
    Define a budget. What bills do you need to pay? How much will you save each month? How much will you commit to paying down debt each month? Who’s going to handle day-to-day finances and who’s going to tackle long-term strategies?
  2. WHO PAYS WHICH BILLS?
    Decide if you’ll split bill-paying duties; one paying the mortgage or rent, for example, and the other tackling utilities, cable and insurance.

  3. Free Download: The Ultimate Guide to Finances in Your 30s

  4. WILL YOU SET SPENDING LIMITS?
    Once you take care of your monthly obligations, understand how much is left over and agree on what you’ll do with it. Consider whether you want to set limits for the amount each of you can spend before talking about it first.
  5. WILL YOUR MONEY BE YOURS, MINE OR OURS?
    Will you commingle your money? Some of it? All of it? Keep separate accounts?
  6. WILL YOU HAVE SEPARATE CREDIT CARDS?
    If one of you has poorer credit, it may make sense for that person to have separate credit cards so that he or she can build up a credit history.

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