Maybe thinking about a bank account doesn’t evoke the same kind of flutter you get when you look into the eyes of your darling. But here’s an idea that can rev up your chemistry and your bottom line as a couple:
Open a romance account—a special savings fund that both you and your sweetie pay into and withdraw from…under one condition: It’s just for the two of you. In other words, if Junior needs braces or the car needs a new transmission, use another account.
Why? A joint savings account is a warmer way to get into the habit of making financial decisions together—something most couples struggle with. The stakes are low and the rewards high.
Plus, it’s easy to get motivated to save when you know the result will be lolling on a beach with your spouse. Here's how to merge love and money:
Don't even think about it. It’s easier to save when you don’t have to make much effort. Earmark a small amount from every paycheck (say, $100 from each of you) to go to your shared stash. In a few months, you’ll have put enough away for a long weekend in a posh hotel.
Tap your romance fund regularly to pay for the aforementioned vacation, a superspecial dinner out, or maybe a new love seat, where you two can curl up and watch The Walking Dead.
Take turns deciding what you’ll use the money for. The more you can master the art of compromise when it comes to your fun money, the better you’ll do when the inevitable major expenses come up.