1. Sit with your partner over a cup of coffee and ask, “what are your financial goals for the next year? 5 years? 10 years?” It may be hard at first, but the more you practice it, the easier it will be. Take a few minutes and each write down two financial goals that you’d love to achieve in the next 12 months. Are you on the same page? Even in the same book? Honesty and communication is the key to a healthy financial relationship.
2. Update your beneficiary information for your investment accounts, bank accounts and retirement accounts. This is the kind of task that doesn’t take long, but can cause years of anguish and financial upheaval if it’s not properly updated. This is especially true for unmarried couples, or couples with children from multiple parents. While you’re at it, make sure your life insurance is up-to-date, and have a serious talk with your partner about what you’d like to happen if one of you dies unexpectedly.
3. Go check your credit. With sites like creditkarma.com and quizzle.com making it simple and free to get a credit report, it’s amazing how many people avoid seeing their score. Just like with any financial situation, knowledge is power. You can’t fix bad credit if you don’t know what’s going wrong. And if your score is higher than you realized, you might be able to get better interest rates, or qualify for better credit cards.