Things to Talk About
Pop quiz. Guess what causes the most fights between married couples. Right, money! You can avoid a lot of trouble later by sitting down and discussing money now. Before you even start planning the wedding, start building the foundation of a healthy marriage by talking through the following questions. You don’t need to answer every question in one evening, and you probably couldn’t if you tried, but you should each have a good idea of the other’s financial views and situation before you even get near the aisle. Remember: There is no one correct answer to any of these questions, as long as you both know where you stand and where you’re going. Things you should discuss include:

Spending Styles
How comfortable are you spending money? Do you buy the best of everything or do you cut corners and save wherever you can? Are you an impulse buyer, or do you carefully consider every purchase? What things do you feel are important and worth spending on? If her motto is, "Save whatever you can," and his is, "Spend it while it’s there," the only way to avoid conflict is to clearly define how the money will be spent and how each person’s needs will be met.

Saving Styles
Are you an aggressive investor, willing to take risks on the stock market? Or are you more comfortable with keeping your money in a federally insured credit union or bank? Make a savings plan now - one that you can both live with.

Goals and Plans
Do you want a big house? A doctoral degree? Your own business? These things cost money, and they will influence your lifestyle in the years ahead. Draw a map now of where you want to be in five years, in ten years, in twenty years. Your map will change over the years, but the journey will be much easier if you know now that you’re starting out in the same direction.

Children
Do you both want to have children? When? How many? If you are planning on having kids, keep talking. Will both of you continue to work full-time, or do you envision one stay-at-home parent? Do you feel strongly about private versus public schools? The best place to raise children?

Your Current Financial Situation
How much debt do you each have? For what? Each partner needs to know about the other’s college loans, mortgages, and other debt. What is your credit rating like? Even if you have a good idea what your credit report looks like, this is a good time to request a copy and check it for mistakes, then share it with your partner. To check your credit report, contact Equifax, Experian, or Trans Union Corp. What is your net worth? A net worth statement is a listing of what you have and what you owe. All together, it tells you what you would have if you sold everything you have and paid off all your debts. This net worth calculator will walk you through the process of creating your lists.

Money Management
Who will manage your money? Will you have one joint account or a joint account plus your own separate accounts? How will you make sure that both of you understand your finances?

Do You Need a Prenuptial Agreement?
Maybe. We know it’s hard to think of divorce when you’re thinking of making a lifelong commitment. It even seems self-defeating. Still, about 5% of couples getting married for the first time and 20% of couples preparing for their second marriage write prenuptial agreements. You don’t need to be rich and famous to need a prenuptial agreement, but there are some situations that do make them a good idea.

• If one or both of you have children, a prenuptial agreement can protect your children’s inheritance in case of your death. ( A will can do the same thing, though, and it’s probably cheaper.)
• If one partner has significantly larger assets than the other, a prenuptial agreement might be a good idea.
• If you are a partner in a business, or part of a family business, the business can be protected from being dissolved in case of divorce.

Consider these three scenarios. Talk with each other about all of the issues we outlined above. Then decide whether you need a prenuptial agreement.