How To Manage Marriage and Finances

cropped shot of woman holding stack of cash and wedding ring, marriage of convenience concept

Marriage is an important part of life for many people, and like most relationships, it requires a certain amount of effort and commitment to make it work. Unfortunately, when it comes to managing finances within marriage, the added complexity of two people’s finances can sometimes cause tension and disagreements. There are a few ways couples can manage their finances to create financial peace of mind in the marriage without added stress, but it is important for couples to be clear about their wants, needs and expectations to make sure their financial goals are met. This article will review some tips on how to manage marriage and finances in order to ensure a successful marriage.


The most important thing couples can do when it comes to managing finances is to create and maintain a budget. A budget is a plan for how to allocate your income and expenses, and can be divided into monthly or yearly categories (e.g. rent, groceries, leisure, etc.). Creating a budget together and deciding on how money will be spent will help to eliminate surprises and disagreements. One way to create your budget is to first write down all of your income sources (e.g. wages, investments, etc.). Then, you can add up your total monthly income and create categories for your expenses that match up with your income. Lastly, you can decide how much of your income you want to dedicate to each expense category and adjust your budget accordingly.

Using Cash Only

Another useful way to manage marriage and finances is to use cash only. This means that you and your partner should only spend money that they actually have on hand, and use cash to do it. This tactic is helpful because it prevents impulse purchases and will help couples to stick to their budget. It is important to note that this does not mean that couples need to live without a credit card; couples should determine what their needs are and decide on a combination of cash and credit that best fits those needs. For example, some couples may prefer to use cash for smaller purchases (e.g. groceries, entertainment, etc.) and credit for larger purchases (e.g. vacations, cars, etc.).


When it comes to managing marriage and finances, clear and frequent communication is key. Before setting a budget, couples should first make sure they are on the same page when it comes to their financial goals. If they are not, they should set aside time to discuss their financial needs and expectations. This can be a difficult discussion to have, but it is important that couples are open and honest with each other about their needs and are willing to compromise.

In addition, couples should make sure to communicate regularly about their finances. Doing this will create financial transparency within the relationship and help couples to hold each other accountable. Couples can communicate weekly or monthly to review their spending habits or check in on their financial progress.

Savings and Investments

One of the most important factors to consider when managing marriage and finances is saving and investing. It is important to be intentional and create a plan for how you want to save and invest your money. Couples should each determine what their financial goals are and decide how to split the responsibility of saving and investing to meet their goals. This could include deciding on how much of your income to save and determining which investments make the most sense for your goals.

Couples should also consider setting up joint accounts and individual accounts. This can help couples to achieve their financial goals while also giving each party autonomy over their own accounts. For example, a couple could have a joint checking account for everyday expenses and individual savings accounts for each person’s long-term goals.

Financial Transparency

Financial transparency is an important part of managing marriage and finances. This means being open and honest with each other about all financial decisions, including debt, investments, and any purchases over a certain amount. It is important for couples to share their financial information with one another so that they can be informed and make decisions that are mutually beneficial.

This transparency can also be beneficial for the relationship. Sharing financial information with your partner will create trust and help to eliminate disagreements about money. Couples should feel comfortable discussing their finances and be open to making changes when necessary.

Financial Advice

It is important for couples to seek outside help when managing marriage and finances. There are a variety of ways couples can get financial advice and guidance, such as hiring a financial advisor, attending a financial education class, or reading books and articles about financial management. Utilizing the knowledge of experts can help couples to create a financial plan that is tailored to their needs.

It is also important to remember that no two couples are the same, and financial advice needs to reflect that. Advice tailored to a specific couple’s goals and needs will be more beneficial and effective than generic advice. Couples should take the time to research and seek advice that reflects their situation.

Final Thought

Managing marriage and finances can be a difficult task, but it is essential for couples to have a good financial plan in order to have a successful relationship. Keeping an open dialogue and having transparent communication about finances can help couples decide on a budget and come up with solutions to meet their financial goals. Couples should also seek outside advice and resources that can provide tailored financial advice for their situation. Creating and maintaining a budget, using cash only, and having clear communication are all key elements to managing marriage and finances in order to build financial security and peace of mind in the marriage.