Financial Fitness with Alan Akina - 3 Money topics every newlywed should discuss

5 Dec 2013 · 1 min

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1:24

In this short Wake Up Today segment, financial advisor Alan Akina offers newlyweds three essential money topics to discuss immediately. He urges couples to commit to weekly money talks, emphasizing openness, honesty, and emotional composure. He advises creating a plan to aggressively pay off all debt, focusing joint effort on eliminating wedding‑related liabilities rather than assigning blame. Finally, he recommends using a joint checking account in most cases, arguing that shared accounts foster collaboration and reduce the risk of financial disputes, which he notes are the leading cause of divorce. The segment underscores the importance of proactive communication and disciplined financial habits for marital stability.

Now, lots of people getting married this past weekend, and newlyweds face a lot of challenges. Maybe the biggest among them, shared finances. Alan Akina has some tips for couples looking to make it work.
Good morning, gang. You know, summer is a time of love. This is when many choose to tie the knot. Now, if you are a newlywed, here are 3 money topics you should discuss with your spouse right away. First, Make a commitment to having weekly money talks with each other. Be open, honest, and willing to discuss all financial matters. And remember to always maintain your cool. Make a plan to pay off all your debt as quickly as possible. So instead of blaming each other or worrying about how you're going to pay off your recent wedding, focus your time and energy on knocking out your debt. This is a common question I get. Should we combine our checking accounts or keep them separate? Now, my recommendation is to go with a joint account and work together. There are very few situations where it'd be beneficial to go solo. Remember this, financial issues are the number one cause of divorce, so take your money seriously. For Wake Up Today, I'm Alan Akina. See you on Wednesday.
Thank you, Alan. Good advice. Well, what works for some might not work for others, so at least talk about it.