By Kelley Muhsemann
Marketing Manager

The National Retail Federation estimates that 52% of American’s plan to celebrate Valentine’s Day this year, and the average consumer will spend $192.80, totaling nearly $25.9 billion in gifts.

When you think about romance, personal finance is rarely what comes to mind. But whether you celebrate or not, Valentine’s Day is a great reminder to make sure your money lasts as long as your love for one another does.

Here are some key questions and items to discuss with your partner surrounding personal finance.

Facilitate Open Communication. As with relationships, open communication regarding your finances is key. Be sure to discuss things like:

  • Should you combine your assets?
  • Do you or your significant other carry debt, and if so, how will you tackle paying it off?
  • Will you file your taxes separately or jointly?
  • Do you have specific feelings or emotions towards money that your partner should know about?
  • Are you a “saver” or a “spender?”

Set Goals. As a couple, it can be fun to think about the future – will you get married, buy a house, have children, travel the world? But it’s also important to set specific goals surrounding your finances together. Ask each other questions like:

  • What does retirement look like to you?
  • What kind of money habits do you want to instill on your children?
  • Where do you see yourself living?
  • When it comes to investing, do you prefer to take risks, or play it safe?

Consider Every Aspect. Remember that financial planning is not just about numbers or money. A true comprehensive financial plan takes a holistic approach, looks at your entire financial picture, and creates a roadmap towards achieving your goals. The following goals and strategies should be part of your financial plan:

  • Retirement and lifestyle goals
  • Tax planning strategies
  • Healthcare costs and goals
  • Self-development and professional goals
  • Estate planning and wealth transfer goals

Money can be a sensitive and sometimes stressful topic for couples. Download our free Master List of Goals worksheet and fill it out with your partner – or fill it out separately and compare your answers.

It can also be helpful to speak with a professional. Contact our team of knowledgeable CERTIFIED FINANCIAL PLANNERS™ (CFP®) at 631.218.0077 or We would be happy to discuss our process for assisting couples with creating a comprehensive financial plan and answer any questions you may have.

R.W. Rogé & Company, Inc. is a fee-only financial planning and wealth management firm serving clients locally and virtually across the country, with Long Island, New York, Beverly, Massachusetts, and Naples, Florida office locations. We help clients Plan, Achieve, and Live® the life they want since 1986. To learn more about how we do this, click here.

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