Step 1 – Common Myths

• Working together compounds results; not doing so compounds mistakes
• Love doesn’t remove financial conflict
• Wealth-building requires discipline and patience
• Investing is accessible at many income levels
• Taxes and inflation fluctuate and must be planned for
• Avoiding money conversations often creates bigger long-term problems

Step 2 – Determine Money’s Purpose

• Life values should guide financial decisions
• Core values tend to stay stable even as circumstances change
• Focus on identity: who you want to be, not just what you want to get
• Identify top 5 core values (freedom, security, family, growth, service, etc)
• Evaluate spending based on alignment with those values

Step 3 – Know Your Starting Point

• Organize financial documents into clear folders
• Track liabilities and other debts 
• Maintain insurance records and estate planning documents
• Define shared goals aligned with couple’s values
• Make goals specific, detailed, and time-bound
• Write goals down clearly
• Begin action within 48 hours
• Estimate costs needed to achieve each goal
• Seek help or guidance when needed

Step 4 – The Latte Factor 

• The real financial issue is spending, not income
• Small daily expenses accumulate significantly over time
• Even modest amounts ($5/day) compound into large sums long-term
• Consumer culture encourages constant consumption
• Many “needs” are actually wants
• The core problem is awareness and habit, not ability to save

Step 5  – Your Retirement Basket

I will substitute here Retire Before Mom & Dad by Rob Berger.

Step 6 – Your Security Basket 

• Safeguard 1 — set aside a cushion of cash 
• Safeguard 2 — both of you must write a will or set up a living trust 
• Safeguard 3 — buy the best health coverage you can afford 
• Safeguard 4 — protect those who depend on you with life insurance 
• Safeguard 5 — protect your income with disability insurance 
• Safeguard 6 — if in your 60s, consider long-term care coverage

Step 7 – Your Dream Basket 

• Avoid the “I don’t have a dream” mindset by intentionally designing your life
• Build a meaningful life with clear direction and enjoyment
• Align goals with time horizons and appropriate investment strategies
• Short-term goals (≤ 2 years): money market or cash equivalents
• Mid-term goals (2–4 years): bond funds or balanced funds
• Long-term goals (4–10+ years): growth investments like index funds

Step 8 – Avoid the Mistakes

I will substitute here The Dumb Things Smart People Do With Their Money by Jill Schlesinger.

Step 9 – Plan a Money Date 

• A “money date” is a scheduled time to review finances together
• It should be low-stress and ideally enjoyable
• Purpose is to assess current position and track progress toward goals
• The first money date includes organizing and cleaning financial documents
• This task is often delayed but highly valuable once completed