Myvesta News Release

ROCKVILLE, Md. — As thousands of couples tie the knot this wedding season they may feel that they know each other inside and out. But while a husband and wife may know each other's favorite color, shoe size, or favorite movie, it's more important for them to know each other's money habits.

"As a society we are much more open to talking about topics like sex and drugs than we are about money," said Steve Rhode, president and co-founder of Myvesta.org, a nonprofit financial management organization. "For newlyweds just starting out or for a couple who just got engaged, discussing finances should be a top priority."

According to Rhode one of the first things that a young couple should do is compare spending habits.

"Every person has a different spending style," Rhode said. "We see a lot of couples where one person is a spender and the other is a saver. It's best to discuss these differences and find out how each person handles their money. This keeps things honest and open, which will help to avoid surprises later on."

When discussing the types of spending patterns that each partner has, it's a good idea to discuss lifestyle, too. According to Rhode some of the best topics to discuss are:

• How much of your income do you want to put in savings?
• How will you decide how much spending money each of you should have?
• What kind of financial risks are you and your partner comfortable taking when investing?
• How will you handle the money and debts you both bring into the marriage?

To help newlyweds and soon-to-be-weds plan their financial union, Myvesta.org has released a publication called "Marriage and Money: How to talk to your new spouse about finances." It can be downloaded from Myvesta.org online.

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Myvesta^SM is dedicated to helping people create healthy financial lives. The organization provides a wide range of materials to inspire and inform people so that they can break down their barriers to financial and personal success. For more information visit Myvesta.org online.