Managing your finances with your newly blended family You’ve gotten a second chance at love. You dated, you swooned, and you’re hooked. Now that you’re deciding to merge your lives, there are some kinks that need to be worked out. First of all, blending families with children and ex-spouses can be complicated. With all the emotional stressors you will have, don't let money and finances add to the stress. Here are a few things to address when creating a new happily ever after.Figure out your approach Before you decide to make the big step of moving in together or getting married, talk about your financial philosophy. Decide who will be paying the bills and whether or not you plan to merge your accounts . Discuss if your kids will receive an allowance and how they can earn it. Examine whether or not you want to invest and your long term savings goals. You want to try and be on the same page when you become a unit as to ensure smooth transition for other parts of your life.Plan for the future More love means more responsibility. Now that you have extra people in the picture, you are at a higher risk for unforeseen disasters. Continue to think about your emergency fund and consider opting for automatic payments from your paycheck . This means you should also update your will to include your new dependents. And don't forget about your retirement. It can be easy to neglect your retirement savings when other people are pulling at your bank account, but continue trying to save.Embrace the fresh start Going into a new relationship, you will be carrying scars. Learn from previous mistakes, but also be aware that you are in a new place. Communicate with your partner and find what works for the both of you. Avoid conflict by discussing tough topics early on. Learn each other's opinions and ideologies and embrace them. And take your time, no one is rushing you to do anything . Overall, just remember to relax and enjoy the process-being in love is supposed to be fun. Blended-Family Finance: Tips Every Modern 'Brady Bunch' Should Consider, Aol Blending Families and Your Finances, U.S. News Blended family, tangled finances, CNN The information provided in these articles is intended for informational purposes only. It is not to be construed as the opinion of Central Bancompany, Inc., and/or its affiliates and does not imply endorsement or support of any of the mentioned information, products, services, or providers. All information presented is without any representation, guaranty, or warranty regarding the accuracy, relevance, or completeness of the information.