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Getting Married

July 4, 2025

Sharing Finances as a Couple
 

When you decide to share your life with a partner, your finances inevitably become part of the conversation. Many couples work with an attorney to develop a prenuptial agreement. This can help to ensure both your and your partner’s wishes are carried out and provide transparency going forward. Answering a few questions, both individually and with your partner, can help ensure you are on the same page, and some of your answers may inform a prenuptial agreement. 

To start:

  • Do you plan to share your income and expenses?
  • How will you determine who covers which expenses?
  • What are your financial priorities for the future?

As you navigate this complex process, consult with an attorney and your Goldman Sachs team to review the specifics of your personal circumstances. Keep in mind: If you do not develop a prenuptial agreement, the division of your assets in the event of divorce would be determined by the laws of your home state.


Considerations of combining your finances

The decision of whether—or to what extent—to combine your finances is something every couple faces.

Some choose to merge everything (income, assets, expenses, debt, savings, investments, etc.). Some choose to create a joint account for shared expenses and to keep individual income and expenses separate. Others choose to keep their financial accounts completely separate.

Here are a few questions to think about:

  • As a couple, how do you look at your financial resources as a whole?
  • Do you envision pooling all your assets and income, or just what’s needed to cover shared expenses?
  • Do either of you have trusts or inheritances that could impact your finances in the future?
  • Have you updated your beneficiary designations and other estate documents, including a healthy care proxy and/or living will, to reflect your married status?

How you decide to navigate your finances is up to you—the key is to be clear about expectations and agree on how each partner will contribute.


Have an open conversation about money

Even couples who maintain their finances independently will likely have shared goals and need to make some financial decisions together. The goal of open financial discussions is to build a clear picture and shared understanding of your family’s overall financial picture, goals, and values.

As you discuss, consider how you envision managing your day-to-day financial decisions:

  • What is your ideal monthly spending budget?
  • What is your monthly cash flow?
  • How can you leverage your debt in the best way?
  • What is your current savings approach?
  • Are you optimizing your investment portfolio?
  • How will you file your taxes (Married Filing Jointly or Married Filing Separately?) and who’s resources will cover any tax liability?

It’s also important to align on the big picture for you and your partner:

  • What are you looking forward to accomplishing individually and together?
  • Are you considering growing your family?
  • How, if at all, will extended family factor into your finances?
  • Where do you plan to live?
  • Are there any causes or organizations you are involved with that you currently—or plan to— support?
  • What kind of legacy do you want to build?


Continue the conversations

40% of U.S. adults who are in committed relationships haven’t fully disclosed their spending, debt, or bank accounts with their current partner although, nearly half of those Americans (45 percent) believe that keeping financial secrets is harmful1. Research shows that couple who regularly communicate about their finances enjoy healthier and happier relationships through the newlywed phase and beyond2.

Conversations about your finances should be ongoing. Regular check-ins can help uncover what is working and what might need adjustment. These check-ins can also be a good time to connect on any updates you’d like to make or any financial milestones to celebrate.

You may also want to include your Goldman Sachs team in these conversations or set up separate time to discuss with them.


Managing your finances

Your approach to managing your finances is up to you. You and your partner may choose to work together on everything, or you may decide to have areas of responsibility. There are a variety of tools that can help couples manage finances together, whether fully combined, fuller separate, or somewhere in between. Regardless of your chosen approach, it’s important to have an open dialogue with each other and with your advisor.

Footnotes
 

1  https://www.bankrate.com/credit-cards/news/financial-infidelity-survey/

2  Common Cents: Bank Account Structure and Couples’ Relationship Dynamics, Journal of Consumer Research, Volume 50, Issue 4, December 2023)

Setting Financial Goals as a Couple
 

As you prepare to start your married life together, you and your partner may have a number of priorities and goals in mind. And for most goals, a financial plan can help you achieve them. 


Align your goals with your partner’s

Discuss your financial goals with your partner to help ensure you are on the same page—some will likely be shared goals you can work toward together.

These questions can help jumpstart your conversation:

  • How will you fund your goals?
  • How much will you budget for each goal?
  • Have you earmarked some of your savings or investments for particular goals

If you do not combine your finances, it’s important to also discuss:

  • Will you share costs? If so, how will you split them?
  • Who will take on debt (e.g., a mortgage), if relevant?

For your individual goals, you can talk through a coordinated approach, ensuring you can both work toward what’s important to you.

  • How will you balance your individual goals with your partner’s?
  • What do the different timelines look like for your goals? Will you be working on them simultaneously, or do you plan to stagger them?

If you maintain separate finances, also consider:

  • Will you contribute to your partner’s goals financially in any way (and vice versa)?
  • How will you balance your individual goals with your shared goals?


Common financial goals

Your Goldman Sachs team can help you review your options when it comes to building toward a variety of goals.

  • Home buying. There are a number of options you may want to consider based on your unique circumstances.
    • Financing—Will you make a cash purchase or consider strategically leveraging debt?
    • Ownership structures—How you title your assets is equally important as how you finance your purchase
  • Education funding. If you choose to have children, consider planning early to maximize some of the financial opportunities tied to education funding.
    • Tax efficient investment opportunities are available through 529 Plans and education trusts.
    • Wealth transfer opportunities: contributions to an annual exclusion gift trust or education trust are generally subject to gift tax limits. If grandparents are looking for efficient ways to transfer wealth during their lifetimes, they can also consider paying directly for education, which is not subject to gift tax limits.
  • Philanthropic pursuits. Supporting the causes that matter most to you can be built directly into your financial plan. Your advisor can help you balance the needs of the organization, your personal giving goals, and potential tax-saving strategies.

  • Estate planning. Designating beneficiaries for your assets, updating your will and trust(s), and establishing health care proxies and powers of attorney can help make your wishes clear. Your estate planning attorney can help you review options specific to your circumstances (e.g., marital deduction trusts, spousal lifetime access trusts (SLATs), etc.).

As you embark on this exciting new chapter of your life together, the foundation of a strong financial partnership is built on open communication, shared understanding, and a well-thought-out plan. By aligning your financial goals and discussing the practical steps to achieve them, you can create a solid framework for a prosperous and harmonious future.

Remember, the path to financial success is a collaborative one. By leveraging your advisor’s guidance, you can make informed decisions that align with your values and aspirations.

 

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