An article in the Wall Street Journal on marriage and money addresses the problems that arise when a spendthrift marries a saver. Can you have the best of both worlds? Yes, it’s called budgeting. More on that later.

The article says that while couples share basic values, they often differ on financial decision-making. Much of what the writer shares, Nicki and I have experienced. Tiffany Smith, a Navy chaplain, says finances top the list of problems in many of her couples-counseling sessions.

Communication is vital when it comes to family financial planning. The article by Julia Carpenter points out that one partner often takes charge of the finances. The self-appointed “Household CFO” may not be the better qualified but may have more time or more of an interest. She urges not to shut the other person out of the decision-making even though they may seem relieved of the responsibility. Joint decisions are the best for the future of the relationship.

It is a good policy to have regular finance meetings, which shouldn’t turn into gripe sessions about one or the other’s habits. Instead, budget for regularly occurring bills, groceries, entertainment and disposable income. Dave Ramsey recommends cash in envelopes, but it can also be managed in pooled checking accounts.

It takes commitment to long-term goals because denial is not a river in Egypt. Disposable income is important and each person should have their share. It’s okay to have great hair and nails as long as you still plan for the future.