Determine your income and expenses

Life’s Financial Journeys

Heading Off to College
Getting Out on Your Own
Blending Two Lives
Having a Child
Emptying the Nest
Entering Retirement
Death of a Life Partner
Military Life

Before you can decide how you want to spend your money you must know exactly where your money is coming from (your income) and where it is going (your expenses.)

These patterns are likely to be much different from what you experienced on your own. Accounting for every dollar for a month or two after you beginning your lives together will likely be very enlightening.

The following resources may assist you in determining your income and expenses:

Tracking Your Spending

Cash-flow Planning for Families

Where Does the Money Go?

Blending Two Lives Tasks

1. Creating a joint spending plan
2. Building shared credit access and usage
3. Managing dual careers
4. Protecting your income with life insurance
5. Estate planning

Creating a joint spending plan Subtasks:

1. Determine what you own separately and together
2. Determine what you owe and your joint net worth
3. Determine your income and expenses
4. Develop a spending plan
5. Decide how you will manage your day-to-day finances


NAPFA Consumer Education Foundation
8700 W. Bryn Mawr Ave., Suite 700N
Chicago, IL 60631
(847) 483–5400 ext. 106