Budgeting for Newlyweds: Figuring Out Family Finance

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By Elizabeth Renter

The weeks and months after your wedding are meant to be bliss, so don’t let money conflicts get in the way of things. Crafting a budget with your new spouse, or better yet, your spouse-to-be, will help ensure you face new family finances as a team.

The basics of building a budget are similar whether you’re married or not. You need to plan for your bills and financial goals given a certain finite resource — your income. Adding another person to the mix, changing personal finance to family finance, can increase security and income while decreasing some expenses, but it can also muddy things. With ample communication and flexibility, you can lessen the risk of complications.

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