Continuing our “Marrying Your Finances” and wedding budget tip series with Judi Rosenthal of Ameriprise Financial, here is tip #2:

Know Your Role: You and your fiancé would never fight about the grocery bill. Or would you? It’s not uncommon for new couples to split household tasks, and in many cases, its ideal. However conflicts can arise when one partner doesn’t understand how much it costs to fulfill a particular obligation. Take time to discuss your household’s day-to-day expenses, and then trust each other to spend wisely. If conflicts arise over small stuff consider keeping separate accounts for personal expenses. Maintaining some independence is okay, especially if it helps you focus on bigger things, like savings and retirement goals.

Wedding Budget Tip: When meeting with potential vendors, be upfront as to what you want to spend. Some vendors may ask you before you schedule a meeting how much you plan on spending. By knowing before you schedule a meeting whether or not you can afford a vendor you will save time by not meeting with someone you cannot afford. When you are asked what your budget is by a vendor, it’s better to give them a range not a set price. For example, if you want to spend up to $5000 on your photography budget, tell the photographer that your budget is $4-5,000. This way they know whether or not you can afford them, and you have some wiggle room.