Life’s Financial Journeys
Creating a joint spending plan. “How will you handle your money as a couple?”
A spending plan takes into consideration all sources of income and all categories of expenses. One of your first decisions will be whether to treat all income and expenses as joint items or a combination of separate and joint items. Making this decision requires that you have a clear understanding of joint versus separate property.
The following subtasks may assist you in creating a joint spending plan. You will find detailed resources for these subtasks under the links in the right column of this page.
Subtask 1: Determine what you own separately and together
Subtask 2: Determine what you owe and your joint net worth
Subtask 3: Determine your income and expenses
Subtask 4: Develop a spending plan
Subtask 5: Decide how you will manage your day-to-day finances
Blending Two Lives Tasks
1. Creating a joint spending plan
1. Determine what you own separately and together