Managing the finances of two people is significantly more complicated than doing the same job for a singleton. Couples planning their financial lives often have more concerns, more accounts and more documents as part of their plans compared to two people who aren’t connected to one another. The bottom line is to start planning now. Whether it’s with a financial advisor or not, a little preparation now can go a long way toward your future financial success as a couple.

Here are five things couple’s should consider when financial planning.

1. Current Finances
   Couples can best begin by communicating with each other about their current financial status. That includes all the details, such as income, debt, savings and investments, goals, risk tolerance, and preferred investing style.
2. A Joint Budget
   A spending plan is essential. With the help of a budget calculator, preparing a budget will supply both partners with a road map to ensure that the couple’s joint income is spent wisely.
3. Bank Accounts
   A joint checking account is often a couple’s financial plan. Each partner can contribute to the account. Contributions are often scaled according to the different incomes generated by each partner. Funds in the account can then be used to pay regular household expenses.
4. Investment Accounts
   Maintaining separate individual brokerage and investment accounts may be preferable to having joint investment accounts. That accommodates the reality that partners often have different investment objectives and styles.
5. Insurance
   A couple’s insurance needs tend to differ from an individual’s. Consider the benefits of life, health, and disability insurance to protect both partners’ assets and provide for their financial needs in the event of misfortune.

Reference
https://www.msn.com/en-us/money/retirement/6-things-couples-need-to-consider-when-financial-planning-for-the-new-year/ar-AA16jDzi.