March 2025
Financial Planning

Financial Tips for Couples

By Dee Kerr, CFP®

With the conclusion of the wedding proposal season, which typically begins around Thanksgiving and concludes around Valentine’s Day, I thought it appropriate to offer a few tips that all couples, regardless of marital status, or length of the marriage, might benefit from.

First is communication. Talking about your individual, as well as collective financial goals, is essential to make sure both of you are on the same page. Agreeing on your short-term and long-term financial goals, and then developing a plan to achieve them, can strengthen the partnership.

Part of establishing a financial plan may mean creating a budget, i.e., a spending plan, for both of you to stick to. A spending plan may provide opportunities to reduce debt, build an emergency fund and increase your net worth. Net worth is derived from what you own and what you owe. It is the foundation of your financial house.

Couples can also benefit from setting a minimum threshold for big expenses. Agreeing in advance to large expenditures can mean avoiding unnecessary friction in the relationship. Sharing the financial decision-making means both partners can feel heard and be committed to the goal.

It is important for the couple to discuss finances on a periodic and ongoing basis. Agreeing on the initial plan is just the first step. As with most things in life, our situations often change. What we once thought was important may no longer be the priority. The financial plan should be reviewed, updated, and revised periodically.

Lastly, it is important to remember that demonstrating love, trust, and honesty, especially when discussing finances, can produce a more harmonious relationship.

At Copperwynd Financial we collaborate with our clients to help them work through critical financial decisions and build financial plans to help keep them on course for financial success.

If you have questions about your financial plan, we invite you to reach out to one of our advisors. We are here to help.

MARKET UPDATE
401(K) ALLOCATION

To download the March 2025 Newsletter: CLICK HERE

Copperwynd Financial, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Copperwynd Financial, LLC and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Copperwynd Financial, LLC unless a client service agreement is in place.

Copperwynd Financial, LLC provides links for your convenience to websites produced by other providers of industry related material. Accessing websites through links directs you away from our website. Users who gain access to third party websites may be subject to the copyright and other restrictions on use imposed by those providers and assume responsibility and risk from use of those websites.

This commentary reflects the personal opinions, viewpoints and analyses of the Copperwynd Financial, LLC employees providing such comments and should not be regarded as a description of advisory services provided by Copperwynd Financial, LLC or performance returns of any Copperwynd Financial, LLC client. Investments in securities involve the risk of loss. Past performance is no guarantee of future returns.

The S&P 500 Index or the Standard & Poor’s 500 Index is a market-capitalization-weighted index of the 500 largest U.S. publicly traded companies. The S&P 500 is a float-weighted index, meaning company market capitalizations are adjusted by the number of shares available for public trading. Note: Investors cannot invest directly in an index. These unmanaged indices do not reflect management fees and transaction costs that are associated with most investments.