Couples that manage their money well are more likely to stay together and have a happy marriage. If you’re getting married, don’t make the mistake of letting your finances get out of hand.

Money management is one area of marriage that doesn’t get talked about much. It’s a minefield of rocky uncharted territory. To those who are in the thick of trying to navigate these tricky waters, it seems like everyone else has it all figured out, and there may be some nasty surprises lurking around the corner. If you have just tied the knot, someone is having these thoughts about money management.

Money Management for Newly Married Couples

Money is a sensitive topic for newly married couples. It’s hard to talk about your finances with your spouse, and even harder to figure out how much money you should have and where it should be going. You might be surprised at how much you have in common with other couples when it comes to money management.

The first step toward a healthy relationship with money is to talk about it—not just once or twice, but consistently over time. Talking about who pays for what and how much you spend on various things will help you both understand each other better, as well as yourself. It’ll also help eliminate the surprise factor that can cause unnecessary arguments!

When deciding who pays for what, consider allocating expenses according to your salaries. For example, if one of you makes more than the other, then they should pay more bills or contribute more towards shared bills like rent or mortgage payments. This can be challenging when it comes time to pay the bills because you may feel like your partner isn’t contributing enough financially; however, having a clear understanding of these responsibilities beforehand will make paying them easier!

Create a budget

As a newly married couple, you will want to create a budget that works for both of you. You may be thinking that this is the time when you should splurge on the things you’ve always wanted, but it’s important to remember that having a budget is good for your relationship.

It’s true that being able to spend freely can be exciting and fun, but it can also cause problems if not handled properly. By creating a budget, you’ll learn how to manage your money in an effective way that benefits both of you. This means that even if one person makes more than the other, they’ll both be able to contribute equally towards their shared goals.

Spend no more than your combined income as a couple. Keep to your means. Create a budget and include an emergency fund and a luxury fund in it along with anything else you need to spend money on. Observe your budget. If you need to make a purchase, budget money for it in advance.

Give basic requirements top priority

As a newly married couple, you may have a lot on your plate. You have to find places to live, figure out how much money each of you earns, and do all of the other things that come with being a newlywed. But there’s one thing that shouldn’t be overlooked: your basic needs.

You need food, shelter and clothing—and there’s no way around it. If you don’t take care of those things first, you’ll be putting yourself at risk for problems down the road. You won’t be able to focus on anything else if you’re worried about where your next meal is coming from or if your clothes are going to fall apart because they’re too worn out.

The unexpected can occasionally occur—a medical emergency, a damaged roof, etc. Make sure you are prepared for this by setting aside a percentage of your budget, which is typically 10% of your gross income, for an emergency fund. Don’t forget to buy insurance policies to safeguard your financial stability.

Establish a joint savings account

One of the most important things you can do as a newly married couple is to open a joint savings account. This will help you build up a safety net for the future, and it will give you something to fall back on if one of you loses your job, or if one of you gets sick.

It’s also important to keep money in different accounts, so that if one person does lose their job or get sick, there’s still a cushion of savings available for them.

Opening a joint savings account is also great because it helps you both think about financial goals together! You can start by setting aside money each month for bills, groceries and entertainment expenses (like going out to eat or seeing movies).

Make an investment from your income.

Invest a portion of your income as a newly married couple

As a newly married couple, you are about to embark on an exciting journey together. You will be making important decisions about your future together, including how much money you want to spend and how much money you want to save. It is important that you start saving as soon as possible in order to build up an emergency fund, which will help protect you against unexpected expenses or job loss.

While it is important to start saving right away, it is equally important not to neglect your other financial goals. For example, you might want to purchase a house in the future or start saving for retirement. One way that couples can accomplish all of these goals at once is by investing some of their income every month in an investment account. This can be done by contributing regularly through automatic withdrawals from your bank account or through direct deposits into an investment account.

By investing some of your income each month instead of spending it all on day-to-day expenses like food or housing costs, you can increase the amount available for future needs such as retirement or buying a home down payment fund without having any negative impact on current spending habits today!

Half-merge your funds

When you merge your money halfway, it’s a great way to get started as a couple. You each have your own bank account in which to put your paychecks, and then there’s a joint account funded by both spouses from which all expenses are paid.

This arrangement is perfect if you and your partner are both on the same page about how much money you want to spend on rent and groceries and how much you want to save for retirement. It also works well if one of you makes significantly more than the other, so that the breadwinner can afford to contribute more overall and the person who earns less can feel comfortable knowing that they won’t be left short at the end of the month.

If you and your partner are feeling like it’s time to combine your finances, but you’re not sure how it should be done, here are three options for combining your money that might work for you:

Merging your money halfway. Each spouse keeps a separate bank account in which to put their paychecks, and then there is a joint account funded by both spouses from which expenses are paid. This is a good option if one person makes more than the other or if one spouse has more savings than the other.

Keeping separate accounts but having one joint account that all expenses get paid out of. This can be done in several ways—for example, by each spouse having their own checking account, but paying all bills out of a joint checking account; or by each having their own credit card (or two), but using a joint credit card for purchases; or by using only one credit card with two names on it and paying all bills out of that one account. This can work well if both spouses have similar incomes or if one spouse doesn’t want to share financial information with their partner (for example, because they want to keep some things private).

Couple Money Management Apps


The Mint app might be for you if you ever get shocked by your bank account’s declining balance or your credit card’s unexpectedly high debt. This no-cost tool, which is accessible through the Google Play and App Store, monitors and displays your income, savings objectives, and credit score. Additionally, it can link your credit cards and bank accounts. Mint shows your expenses, classifies them, and notifies you when you’ve over your budget. The ability of Mint to connect several accounts and cards can be a useful tool for couples, even though the program isn’t exactly a budgeting app for couples. Another nice feature is that it notifies you when payments are due and when you may be paying too much for particular items.


“How much did you spend?” or “What did you buy?” These are issues that arise in relationships between people who have joint financial resources, and they can be contentious. When you or your partner exceeds your spending caps in specific categories, the Honeydue app will function as a neutral third party and send you alerts, hopefully eliminating the need for these argument-provoking dialogues. This is how it goes: Honeydue will track your spending when you specify the accounts to sync with the app and set spending caps for various item categories. You can also quickly and easily view your financial condition with this free software, which is accessible on the App Store or Google Play, including savings targets and payment due dates.


Has the envelope system ever come up? This budgeting tool allows users to allocate different sums of money to various budget categories, such as grocery and discretionary spending. Using the envelope technique, you would put the cash in the variously designated envelopes and use those when you go grocery or clothing shopping. Unlike a credit or debit card, it serves as a physical restraint on your spending because you are only allowed to use the money that is in the envelope. The digital substitute is Goodbudget, which you can download from the Apple Store or Google Play. It gives you up to 20 digital envelopes to help you stay below your spending limit. For $8 per month, you can upgrade to the app’s paid edition if you want more envelopes and features. You will need to manually enter your amounts because this app doesn’t connect to your accounts.

Personal Capital

Personal Capital might be of interest to you if you want to up your budgeting app game. This no-cost app, which is offered on Google Play and the Apple Store, offers a variety of options for anything from managing your budget to keeping track of the balances in your portfolio. This app’s dashboard view is excellent; it provides you with an overview of your finances, including your net worth, retirement savings, emergency fund, and more. You may link your accounts to track your spending when it comes to budgeting, and it will send you reminders when invoices are due and even if you’re paying too much. This all-inclusive tool may help you manage your finances, plan for retirement, and keep tabs on your net worth.


Some individuals have never encountered a spreadsheet they didn’t enjoy. The Tiller app might be right for you if Excel and Google Sheets are your thing. However, Tiller isn’t technically an app, just to be clear. Tiller, however, enables you to link your credit cards, bank accounts, and investment accounts to a spreadsheet, just like these other budgeting applications. After that, it provides templates to aid in the initial creation of a budget and the tracking of your expenditures. Just keep in mind that after the initial 30 days, this software will cost you $79 per year, or $6.58 per month, to use.


Users of the Monarch app gush about how beautifully it is designed. The Apple Store and Google Play also provide this software, which keeps track of all your accounts and investments in one location and aids couples in creating plans to meet their financial objectives. The Monarch gives you the freedom to set your own spending limitations, but it will let you know when you’ve exceeded them. With the help of their budgeting tool, you can also prepare for larger expenses and test out various budget scenarios to see how they work out over the long term. For the first 30 days, Monarch is free; after that, it costs $9.99 per month.

You Need a Budget (YNAB)

In the name, in fact. The software You Need a Budget, popularly known as YNAB, gives users access to a simple but effective budgeting tool. This app, which is based on the zero-based budgeting method, was created with the following four guiding principles in mind: allocate every dollar in your budget, divide large expenses into manageable monthly goals, keep a positive outlook despite overspending, and spend money that is at least 30 days old with a purpose. This well-known app, which is offered on Google Play and the Apple Store, is free for the first 34 days. Additionally, according to YNAB’s website, rookie budgeters can save $600 in the first two months and over $6,000 in the first year.


Money is an often-discussed aspect of relationships, but it’s not always easy to talk about. As a newly married couple, you are about to start sharing a life together, and that includes finances. While there is no reason to let the subject stress you out or cause conflict between you and your partner, it’s also true that you cannot leave things as they are. Nobody likes to focus on money management because it involves numbers and details, things most people would rather avoid. But if you are planning to build a future together, there is no way around it—you need to show some interest in your partner’s financial affairs and take some steps toward building mutual trust.

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