1. Bank account options.
   2. The credit card debt that each of you may be bringing into the marriage.        
   3. The importance of incorporating a Budget into your lifestyle.                             
   4. Insurance plans, retirement plans, wills, etc.
   5. Financial and overall goals (short-term and long-term),

Bank Account Options:

Discuss the advantages and disadvantages of having joint bank accounts, separate bank accounts or both.  Evaluate each option to see what would work best for you as a couple.  Review different types of banking options such as passbook savings accounts, no fee checking accounts, debit cards, etc.

 Credit Card Debt:

Discuss how much debt each of you has so there are no surprises.  Order your credit reports.  Look for errors or inaccuracies and take steps to correct them.  Also identify areas where you need to improve your credit history and make a plan.  The most important thing to remember is to ALWAYS PAY YOUR BILLS ON TIME AND MAKE AT LEAST THE MINIMUM PAYMENT.  This will help keep your credit report healthy.

Incorporating a Budget into your lifestyle:

It is important to create a household budget together.  Budgets help you track where your money is going and can help you find areas where you can cut back and save.

     Step 1:  Calculate your total monthly income.

     Step 2:  Add up your anticipated shared monthly expenses.

     Step 3:  Subtract your total monthly expenses from your total monthly income. (Make sure your expenses
                  are less than your income.  If not, look at your expenses to see where you can cut back).

     Step 4:  Decide as a couple, what to do with leftover money.  Discuss how much of a savings cushion you should
                  put aside.  Experts agree that a financial cushion of 3-6 months worth of income is the best way to be
                  prepared for unexpected emergencies.

It is also a good idea to determine a practical credit card usage strategy.  (Perhaps only use a credit card when you have to; when purchasing airline tickets or renting a car).

• Allocate a reasonable amount of spending cash for each of you per month.
      * Agree on who will manage the bills and how.  Will it be a shared responsibility?

Put all of this in writing and both of you sign it!  This way you have something to go back to should an argument arise.

Insurance plans, retirement plans, wills, etc:

Discuss the possibility of starting or updating these plans to reflect your new status.  If you already have a will drafted, you’ll need to update it to include your new spouse.  If you haven’t drafted a will, this may be the time to do so.

Financial and overall goals:

Do your future goals include big purchases like a house or a car?  Will you be preparing for children?  Are you ready financially?  Start a savings plan together right away to be prepared for these goals.

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    * Insurance plans, retirement plans, wills, etc:

Discuss the possibility of starting or updating these plans to reflect your new status.  If you already have a will drafted, you’ll need to update it to include your new spouse.  If you haven’t drafted a will, this may be the time to do so.

    * Financial and overall goals:

Do your future goals include big purchases like a house or a car?  Will you be preparing for children?  Are you ready financially?  Start a savings plan together right away to be prepared for these goals.

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