Here's the good news: If you and your honey can figure out how to talk about money and navigate your finances together, you just may live happily ever after. The experts weigh three strategies to help you do just that. ft BankofAmerica mbgpartner
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To up the odds of reaching those goals, establish ground rules. These can be anything from setting a monthly spending limit to discussing major purchases before making them."Having parameters and sticking to them helps couples stay on the same page and avoid conflict," says Candace Kotkin-De Carvalho, a licensed social worker.
Compromise is critical."Most couples have a spender and a saver. Both are valid but need to be balanced with the other. Partners don't want to feel controlled by their partner on little purchases. I recommend couples have 'mad money' as part of their budget that they pull out in cash each month and spend however they want. This creates freedom yet it's still part of the budget both partners agreed to," says Wyatt Fisher, a psychologist and relationship coach.
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