Got Engaged Recently? Mark This on Your To-Do List

If you got engaged on Valentine’s Day, congratulations! Even if you got engage in recent months and are in the process of deciding all the details of your wedding, from flowers to keepsakes and everything in between, make sure you remember to cover one of the most important things before the Big Day––your and your intended’s money compatibility.

Of course, a successful marriage is one that allows enough room to accommodate each other’s individual opinions, tastes and style. Just because you like to blast Pink in the car while your fiancé prefers to relax to Michael Bublé doesn't mean your marriage will be headed for trouble. However, when it comes to how you handle money––both individually and as a couple––compatibility is critical if your marriage is to thrive.

When you commit to a marriage, like it or not, you also commit to a lifelong dialogue about money. Experts say that differing attitudes about money––not just how much you have––are often at the root of many serious marital conflicts. The following quiz from Money Magazine can give you some insight into your and your future spouse's financial values. Take a moment to answer them individually.

1. Are you proud of how your fiancé handles money?
2. Do the two of you agree about your financial goals?
3. Do you both agree on an investment strategy?
4. When you make financial decisions, does the same person always have the last word?
5. Do you fight about the monthly bills?
6. Have you and your fiancé agreed to consult each other about major purchases or investments? Does the word "major" have a specific dollar amount attached?
7. Do you both know your net worth without having to dig through statements?
8. If one of you lost your job, could you adjust your budget without extended arguments?

Experts say the answers to all questions except 4 and 5 should be "yes." If you answered three or more of the questions with a “no,” or your fiancé gave answers different from yours on three or more questions, it's time to have a serious discussion about your finances before you potentially run into marital bumps down the road.

Some couples do have a hard time bringing up the topic of money or coming to an agreement on certain points. If you're one of those couples who find it difficult to agree on your financial goals, speak to a financial counselor who can help guide a discussion. Vantage offers free financial counseling through Accel. We can also help with investment and insurance options.

No matter what your plans, make sure you check off your money compatibility discussion as you work your way down your to-do list and get closer to the rest of your lives together.