Money Talks: Essential Financial Conversations for Engaged Couples
There’s nothing quite like the excitement of being engaged—the romantic proposals, the wedding planning, and the promise of forever with your best friend. But before you walk down the aisle in one of Grand Rapids’ stunning wedding venues, there’s an important step that will help build a strong foundation for your marriage: talking about finances. Having these money talks, financial discussions, and budgeting conversations early on can set the stage for a smooth financial future together.
Money isn’t always the most glamorous topic, but open and honest conversations about financial expectations can prevent stress later. Here are the key discussions every engaged couple should have before tying the knot.
1. Understanding Each Other’s Financial Background
Before combining bank accounts or creating joint budgets, it’s important to understand where each of you is coming from financially. Discuss:
Your current income, debt, and savings
Any financial obligations (student loans, credit card debt, or family support)
Your overall attitude toward spending and saving
2. Creating a Joint Budget
Once you’re married, your finances will likely become more intertwined. Work together to create a budget that balances your incomes, expenses, and future financial goals. Consider:
How much you’ll spend on housing, utilities, and groceries
Discretionary spending (dining out, hobbies, entertainment)
Savings plans for emergencies, retirement, or big purchases
3. Deciding on Bank Accounts
Will you merge your accounts, keep things separate, or create a mix of both? Some couples prefer a joint account for household expenses while maintaining separate accounts for personal spending. Find a system that works for you and helps avoid misunderstandings.
4. Handling Debt Together
Debt can be a major stressor in a marriage, so it’s best to address it head-on. Talk about:
How much debt each of you is bringing into the marriage
A plan to pay it off together (or separately)
Your approach to taking on new debt, such as a mortgage or car loan
5. Aligning on Long-Term Financial Goals
Marriage is a lifelong partnership, and your financial goals should reflect that. Discuss where you see yourselves in five, ten, or twenty years. Some questions to ask:
Do you want to buy a home in Grand Rapids or another city?
How do you plan to save for retirement?
Are kids in the picture, and how will you prepare financially for them?
6. Planning for the Unexpected
Life can be unpredictable, so having financial safeguards in place is essential. Make sure you have:
Emergency savings (at least three to six months of expenses)
Insurance coverage (health, life, disability, and home/renters insurance)
A basic understanding of estate planning (wills, power of attorney, and beneficiaries)
7. Communicating Regularly About Finances
Financial conversations shouldn’t stop after the wedding. Schedule regular check-ins—whether it’s monthly, quarterly, or annually—to discuss your budget, spending, and financial goals. Keeping the lines of communication open helps ensure you’re always on the same page.
Final Thoughts
Marriage is about love, trust, and partnership—including financial partnership. Having these money talks, financial planning sessions, and budgeting discussions before saying "I do" will help set you up for a future filled with financial stability and shared success.
As you plan your dream wedding in Grand Rapids, take some time to also plan for the life you’ll build together beyond the big day. Your future selves will thank you!
Thanks so much for stopping by our blog! We hope you found this information helpful. We’re passionate about using our blog to shine a light on locally owned wedding venues. These venues often bring a higher level of expertise, service, and dedication to your big day. Plus, with less staff turnover than corporate or investor-owned venues, they’re able to provide a more personal touch. As you plan your wedding, we’d love for you to consider a locally owned venue like ours! Check out this wedding venue map to discover amazing locally owned venues across the country. And a big shout out to all the incredible locally owned wedding venues out there!
This is great advice! I wish I'd read this a decade ago. Better late than never!
I found you through weddingvenueowners.com, where I'm a fellow owner: Talula Mesa Glamping in Austin
I hope to see you on one of the weekly calls!